a3850j

6-K 1 a3850j.htm 3RD QUARTER RESULTS a3850j

美国

证券交易委员会

华盛顿特区20549

表格6-K

外国私人发行人报告

根据第13A-16或15D-16条规定

根据1934年证券交易所法案

2024年10月24日

巴克莱银行 PLC

（申请人姓名）

1 圣丘吉尔广场

伦敦 E14 5HP

英格兰

(主要行政办公地址)

在选框内表示，登记资本管制投资名单项目之申请者正在或将要进行年度报告的申报

根据20-F表格或40-F表格的覆盖。

申报表 20-F x 40-F 表格

这份6-k表格的报告由巴克莱银行提交。

这份报告包括:

提供给伦敦证券交易所并根据要求提供的信息

一般指示b 至第六季表格的一般说明。

展览指数

签名

根据1934年证券交易法的要求，申报人已经授权本人在其授权的情况下代表其签署此报告。

	巴克莱银行 PLC
	（注册者）

日期: 2024年10月24日

	作者：/s/ 加思特·莱特 --------------------------------
	加思特莱特
	助理秘书

巴克莱银行 PLC

2024年第三季度业绩公布

2024年9月30日

笔记

巴克莱银行和集团一词指的是与其附属公司一起的巴克莱 PLC。除非另有说明，收入表分析比较了2024年9月30日结束的九个月与2023年相应的九个月，资产负债表分析则比较了2024年9月30日与2013年12月31日和2013年9月30日相关的数据。缩写“£m”和“£bn”分别表示英磅的百万和千兆；缩写“$m”和“$bn”分别表示美元的百万和千兆；缩写“€m”和“€bn”分别表示欧元的百万和千兆。

有许多关键判断领域，例如减损计算，这些都是基于模型并且不断地受到调整和修改。报告的数字反映出特定时间点上的最佳估计和判断。

本文件中使用的相关术语若未在适用监管指导或国际财务报告准则（IFRS）下定义，请参考结果术语表进行解释，可在该处访问。 home.巴克莱银行/投资者关系.

此公告的资讯已于2024年10月23日获董事会批准，不属于根据2006年公司法第434条的法定帐目。根据2006年公司法第495条，在2023年12月31日结束的年度的法定帐目已根据2006年公司法第441条的规定提交给公司注册处，其中包含经根据2006年公司法第495条进行未经修改的审计报告（该报告未根据2006年公司法第498条做出任何声明）。

这些结果将尽快在本文件发布后提交6-k表格给美国证券交易委员会（SEC）。提交给SEC后，6-k表格的副本将可从SEC的网站上获得在 www.sec.gov.

巴克莱银行是资本市场中频繁发行人，并定期通过正式路演和其他临时会议与投资者会面。与其通常作法一致，巴克莱银行预计在未来一季会定期与全球投资者会面，讨论这些结果和其他关于该集团的事项。 .

非IFRS绩效指标

巴克莱银行的管理层认为，本文件中包含的非IFRS绩效指标可为基本报表的读者提供有价值的资讯，因为这些指标使读者能够识别更一致的基准来比较业务在各财务期间的表现，并提供更多有关这些业务管理者最直接能够影响或对集团评估相关的绩效要素的详细资讯。它们也反映了巴克莱银行管理层定义运营目标的方式的重要方面以及绩效如何受控。尽管如此，在本文件中的任何非IFRS绩效指标均不能取代IFRS指标，读者也应考虑IFRS指标。有关本文件中沿用的非IFRS绩效指标之定义和计算，以及与最直接可比IFRS指标的调和，请参阅附件第42至47页。

前瞻性陈述

本文件包含Barclays Group 相关的一些前瞻性陈述，根据经修改的1934年美国证券交易法第21E条及1933年美国证券法第27A条解释，与该集团有关。巴克莱银行提醒读者，任何前瞻性陈述都不是对未来业绩的保证，实际结果或其他财务状况或绩效指标可能与前瞻性陈述中所包含的内容有实质差异。前瞻性陈述可透过其不仅与历史或当前事实有关来识别。前瞻性陈述有时候使用「可能」、「将会」、「寻求」、「继续」、「旨在」、「预计」、「目标」、「预计的」、「期望」、「估计」、「打算」、「目标」、「相信」、「实现」或其他具有相似含义的词语。前瞻性陈述可以书面发表，也可能由该文件所述该集团的董事、高管和员工口头发表（包括在管理报告中）。前瞻性陈述的示例包括有关或涉及该集团未来财政状况、业务策略、收入水平、成本、资产和负债、减损损失、提供、资本杠杆及其他监管比率、资本分配（包括分红政策和股份回购政策）、有形股本回报、银行和金融市场增长水平、行业趋势、任何承诺和目标（包括环境、社会和治理（esg）承诺和目标）、未来营运计划和目标、国际财务报告准则（“ifrs”）和其他非历史或当前事实的陈述。鉴于其特性，前瞻性陈述涉及风险和不确定性，因为它们涉及未来事件和情况。前瞻性陈述仅反映其发表日期上的情况。前瞻性陈述受许多因素的影响，包括但不限于：法律、法规、政府和监管政策的变化、期望和行动、自愿实践守则及其解释、ifrs和其他会计准则的变化，包括对其解释和应用的惯例，以及新兴和发展中的esg报告标准；当前和未来法律程序和监管调查的结果；集团以及政府和其他利益相关者有效测量、管理和减轻气候变化对其影响的能力；集团无法控制的环境、社会和地缘政治风险和事件以及类似事件的影响；银行和金融服务行业竞争的影响；过去、现在和未来时期适用的资本、流动性、杠杆和其他监管规则和要求；英国、美国、欧元区和全球宏观经济和商业状况，包括通胀；信用和资本市场的波动性；市场相关风险，如利率和汇率变化、利率和指数改革；资产估值的升高或降低；集团或其发行的任何实体的信用评级变化；交易对手风险的变化；消费者行为的变化；乌克兰和中东冲突对欧洲和全球宏观经济环境、政治稳定和金融市场的直接和间接影响；政治选举，包括2024年英国、欧洲和美国选举对的影响；英国与欧盟关系的发展；网络攻击、信息或安全漏洞、技术故障或运营中断的风险以及对集团声誉、业务或运营的任何后果；集团取得资金的能力；以及收购、处置和其他战略交易的成功与否。其中许多因素超出了该集团的控制范围。因此，该集团的实际财务状况、结果、财务和非财务指标或绩效指标，以及其能力达成承诺和目标，可能与该集团前瞻性陈述所设定的陈述或指导有实质差异。在为2024-2026年间制定其目标和展望时，巴克莱已对宏观环境进行了一些假设，包括但不限于通货膨胀率、利率和失业率、巴克莱活动市场和竞争条件以及其增长特定业务、实现成本节省和其他构造行动的能力。可能影响该集团未来财务状况和业绩的其他风险和因素，已在巴克莱银行PLC向美国证券交易委员会（“sec”）提交的文件中确定（包括但不限于，巴克莱银行PLC于2023年12月31日结束的财政年度的20-f表格年度报告），该报告可在sec网站上获得。 www.sec.gov.

根据巴克莱银行在任何相关司法管辖区（包括但不限于英国和美国）的适用法律和法规所负的义务，就披露和持续信息而言，我们不承担向公众更新或修订任何前瞻性陈述的义务，无论是出于新资讯、未来事件或其他原因。

表现亮点

巴克莱银行在2024年和2026年的目标中，Q324的有形权益回报率（RoTE）为12.3％，Q324至今的有形权益回报率为11.5％，持续朝目标迈进。

C. S. Venkatakrishnan集团首席执行官评论

"我们继续专注于执行我们的三年计划，并对迄今为止的进展感到鼓舞。虽然还有更多工作要做，但集团正朝著在2026年实现12%以上的RoTE目标迈进。在Barclays的第324季度，RoTE达到12.3%，支持我们在2024年达到10%以上的目标。每股有形净资产价值(TNAV)增加至351便士，较上一季度增加11便士，较去年同期增加35便士。预计于2024年11月1日完成的Tesco Bank收购，是我们投资英国的承诺的一部分。我们继续实行成本纪律，并且在季度结束时具有足够的资本，Common Equity Tier 1 (CET1)比率为13.8%。"

●

集团2024年第3季单季法定RoTE为12.3％，截至第3季的年度法定RoTE为11.5％，2024年集团RoTE目标保持不变。

●

2024年集团净利息收入(NII)指引，不包括投资银行(IB)和总部，在约£11.0十亿英镑增加至超过£11.0十亿英镑。在这之中，巴克莱银行英国的NII指引从约£6.3十亿英镑增加至约£6.5十亿英镑。1

●

2024年第三季度和截至2024年第三季度的集团成本收入比率为61%，2024年集团成本收入比率目标约63%仍然不变。

在Q324进一步实现了30亿英镑的毛成本效益节省，使得Q324年至今的节省金额达到70亿英镑，有望在2024年实现约10亿英镑的毛成本效益节省。

●

Q324贷款损失率谨慎管理，37个基本点（bps）以及 Q324年初至今的贷款损失率为42个基本点（bps），低于通过整个周期的目标区间50-60个基本点（bps），预计FY24将处于这个区间底部，包括Tesco银行并购的首日影响

●

财务状况强劲，CET1比率为13.8%，在13-14%的目标区间内。

●

截至H124公布的每股等值总派息为2.9美分：现时已支付股息，并且75000万英镑的股票回购进展顺利

●

每股TNAV为351便士（2023年12月：331便士）

重要财务指标:

法定										不包括无机活动2
	收入	利润盈利之前税收	归属利润	成本：收入比率	LLR	RoTE	每股收益	TNAV 每股收益分享	CET1 比率	RoTE
Q324	£6.5十亿英镑	£2.2十亿英镑	1.6十亿英镑	61%	37个基点	12.3%	10.7p	351p	13.8%	12.3%
第三季度到第四季度累计	十九十八十亿英镑	六十四十亿英镑	四十四十亿英镑	61%	42个基点	11.5%	29.3p	351p	13.8%	12.1%

Q324 绩效亮点:

●

集团法定RoTE为12.3％（Q323：11.0％），税前盈利为22亿英镑（Q323：19亿英镑）

Q324 没有进行任何无形资产交易。2

●

集团收入为65亿英镑，较去年同期增长5%。，其中不包括Ib和总部在内的集团NII为28亿英镑，其中巴克莱银行的英国NII为17亿英镑。

巴克莱银行英国收入增加4％，由于结构性对冲收入较高，部分抵消了按揭利差压力以及存款中不利的产品动态，这在整个2024年已经稳定。

巴克莱银行英国企业银行（UKCB）的收入增长了1%，这是由于更高的平均存款余额推动的

巴克莱银行私人银行和财富管理(PBWM)收入下降了3%，因为客户余额的增长被Q323的一次性因素的非重复所抵消

巴克莱银行投资银行（IB）收入增长了6%。全球货币市场收入增长了3%，其中FICC和股票分别上涨了3%。投资银行收入增长了13%，因顾问和债务股权资本市场中更高的费收入部分抵消了国际公司银行收入的下降

巴克莱银行美元指数消费银行（USCB）收入下降了2％，主要是由于英镑对美元汇率上升，部分抵消了更高的余额

●

集团总营业费用稳定在40亿英镑，通过30亿英镑的成本效益节省超过通货膨胀，促进投资支出和业务增长

●

信用减值损失为 40亿英镑（Q323：40亿英镑） LLR为37个基点（Q323：42个基点）

1	这不包括2024年对乐购银行零售银行业务的收购对净利息收入的影响，预计将于2024年11月1日完成，初始年化净利息收入约为40000万英镑。有关收购的详细信息，请参阅第7页的其他事项。
2	非内部活动是指作为FY23投资者更新的一部分宣布的某些非内部交易，旨在提高2024年以后的集团RoTE。在Q324 YTD中，这包括对表现良好的意大利零售按揭组合的2.2亿英镑损失，以及对德国消费金融业务的2千万英镑处置损失，均发生在H124。在Q324中没有发生非内部交易。

Q324年度表现亮点：

●

集团法定RoTE为11.5％（Q323 YTD：12.5％），税前利润为64亿英镑（Q323 YTD：64亿英镑）

不考虑无机活动的影响1，群体RoTE为12.1%

●

集团收入为198亿英镑，同比持平，集团NII不包括Ib和总部为82亿英镑为82亿英镑其中巴克莱银行英国NII为48亿英镑

●

集团总营业费用为121亿英镑，同比增长1%, 包括银行英格兰银行（BoE）征税计划的影响9300万英镑2

集团运营成本稳定在 120亿英镑, 其中7亿英镑的成本效率节省超过通货膨胀，从而实现投资支出和业务增长

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信贷减值费为13亿英镑（截至Q323年初至今：13亿英镑） LLR率为42个基点（截至Q323年初至今：43个基点）

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资本充足率为13.8%（2023年12月 2023年：13.8%）, 风险加权资产（RWAs）为340.4亿英镑（2023年12月： 342.7亿英镑），每股净资产为351便士（2023年12月： 331便士）

财务目标和展望：

2024

●

收益：针对RoTE高于10%和约10.5% 不包括非有机活动1

所有无机活动对FY24集团RoTE的累积影响目前预计将基本上是中立的，在Q424完成Tesco银行收购后预计会有净收益，与我们意大利零售抵押贷款组合以及德国消费业务出售所造成的损失基本上会相互抵消。

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收入：针对巴克莱集团不包括国际银行和总部的净利息收入目标超过110亿英镑（先前的目标约为110亿英镑），其中巴克莱英国的净利息收入现在约为65亿英镑（比先前的目标约为63亿英镑高）3

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成本：目标集团成本：收入比率约为63％，其中包括2024年约10亿英镑的毛效率节约。

●

减值：预计在整个周期中的LLR为50-60个基点

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资本：预计将在CET1比率目标区间13-14%内运营

2026

●

怀旧口味"橙子片"回归目标为大于12%的RoTE

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资本回报：计划在2024年至2026年之间至少向股东返还100亿英镑的资本，通过分红和股票回购，并继续偏爱回购。

计划将总股息绝对数保持稳定在2023年水平，通过股份的减少实现每股股息的逐步增长，因为回购数量的增加导致股份减少

分红派息将继续每半年支付。这个跨年度计划将根据监管和董事会批准、预期的财务表现以及我们公布的CET1比率目标区间为13-14%。

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收入：以总收入为目标的集团，约30亿英镑

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成本：目标是将集团总营业费用控制在约170亿英镑，并以50%以上的集团成本收入比率为目标。其中包括到2026年实现的约20亿英镑的总净效益节约。

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减值损失预计在整个周期内LLR为50-60个基点

●

资本预期在核心一级资本比率目标区间内运营，即13-14%

2026年，目标是将Ib RWAs定为集团RWAs的约50%。

监管变化对风险加权资产的影响符合我们之前的指引，预计将在集团风险加权资产的5-10%的下限范围内。4

之前估计的由于USCb转向内部评级模型(IRB)预计会产生约160亿英镑的风险加权资产(RWAs)影响与先前的指导保持一致，但会改变时间，而且还取决于模型构建和投资组合变化。其中约50亿英镑将在2026年实施巴塞尔3.1时反映出来，其余部分将在此之后跟随。

2025年某个时间点开始，Pillar 2A可能会适度增加，在模型实施前生效

1	无机活动指的是作为FY23投资者更新的一部分宣布的特定无机交易，旨在改善2024年之后集团RoTE。2021年第四季度至今，其中包括出售意大利零售抵押贷款组合导致的2.20亿英镑亏损，以及在H124发生的德国消费信贷业务的2,000万英镑处置亏损。2021年第四季度没有发生无机交易。对于2024财年，预计还将包括出售意大利不良抵押贷款组合导致的亏损，以及对乐购银行收购的影响。
2	2024年8月，巴克莱银行在2024/2025财年的BoE征税计划最终收费确认为9300万英镑，低于在Q124中确认的12000万英镑估计收费。因此，在2024年第三季度确认了2700万英镑的减少。请参阅第7页的其他事项。
3	这不包括对乐购银行零售银行业务的2024年影响，预计将于2024年11月1日完成，预期初始年化NII约4亿英镑。有关收购的更多详情，请参阅第7页的其他事项。
4	基于3427亿英镑的2023年12月风险加权资产。

巴克莱银行集团业绩	截至九个月的时间			截至三个月的时间
	30.09.24	30.09.23		30.09.24	30.09.23
	£百万	£百万	% 变化	£百万	£百万	% 变化
巴克莱银行英国	5,659	5,795	(2)	1,946	1,873	4
巴克莱银行英国企业银行	1,322	1,375	(4)	445	440	1
巴克莱银行私人银行和财富管理	958	895	7	326	337	(3)
巴克莱银行投资银行	9,198	8,998	2	2,851	2,686	6
巴克莱银行美国消费银行	2,469	2,402	3	791	809	(2)
总部	218	315	(31)	188	113	66
总收入	19,824	19,780	—	6,547	6,258	5
公司运营成本主要包括（i）开发会员、商家和广告商的营销和促销费用，（ii）升级、优化和维护其网站和移动应用的网站和设施维护费用，（iii）员工薪酬和福利费用，（iv）专业和商务咨询费用，以及（v）进行公司业务的其他一般办公费用。运营成本在发生时作为费用。需要判断是否分别呈现收入成本、销售费用和一般和行政费用。公司考虑实质性问题、运营成本可以单独识别的方式以及对财务报表用户最有用的方式，并选择将所有成本和运营成本显示为一项“成本、销售、一般和行政费用”，如在未经审计的简明合并利润表中反映的一样。管理层认为这样的呈现方式在考虑公司运营性质和公司管理业务的方式时是有意义的。	(11,951)	(11,979)	—	(3,954)	(3,949)	—
英国监管费用1	(93)	—	除数为0！	27	—	除数为0！
诉讼及合规	(99)	(32)		(35)	—	除数为0！
总营业费用	(12,143)	(12,011)	(1)	(3,962)	(3,949)	—
其他净利润	37	7		21	9
减值前利润	7,718	7,776	(1)	2,606	2,318	12
信用减值损失	(1,271)	(1,329)	4	(374)	(433)	14
税前利润	6,447	6,447	—	2,232	1,885	18
税收费用	(1,304)	(1,257)	(4)	(412)	(343)	(20)
税后利润	5,143	5,190	(1)	1,820	1,542	18
非控股权益	(29)	(39)	26	(3)	(9)	67
其他股本工具持有人	(763)	(766)	—	(253)	(259)	2
可归属利润	4,351	4,385	(1)	1,564	1,274	23

绩效衡量指标
普通股东权益的平均回报率	11.5%	12.5%		12.3%	11.0%
普通股东权益的平均价值(十亿英镑)	50.4	47.0		51.0	46.5
成本:收益比	61%	61%		61%	63%
贷款损失率(基础点)	42	43		37	42
每股普通股基本收益	29.3p	28.2p		10.7p	8.3p
每股普通股基本加权平均股数(百万)	14,863	15,564	(5)	14,648	15,405	(5)
期末股份数(百万)	14,571	15,239	(4)
期末有形股东权益（十亿英镑）	51.1	48.2

	截至 30.09.24	截至 31.12.23	截至 30.09.23
资产负债表和资本管理2	十亿英镑	十亿英镑	十亿英镑
按摊销成本计提的贷款和垫款	399.2	399.5	405.4
按摊销成本计量的贷款和存放准备率	1.3%	1.4%	1.4%
总资产	1,531.1	1,477.5	1,591.7
按摊销成本计量的存入资金	542.8	538.8	561.3
每股有形资产净值	351p	331p	316p
普通股一级资本比率	13.8%	13.8%	14.0%
普通股一级资本	47.0	47.3	48.0
风险加权资产	340.4	342.7	341.9
英国杠杆比率	4.9%	5.2%	5.0%
英国杠杆暴露	1,197.4	1,168.3	1,202.4

资金和流动性
集团流动性池（十亿英镑）	311.7	298.1	335.0
流动性覆盖比率	170.1%	161.4%	158.7%
净稳定资金比率3	135.6%	138.0%	138.2%
贷款：存入资金比率	74%	74%	72%

1	包括英国银行征税计划和英国银行征税的影响。
2	有关资本、风险加权资产和杠杆率如何计算的更多信息，请参阅第34至38页。
3	代表最近四个实时季度末数据的平均值。

财务结果的调解不包括非有机活动1

九个月结束了	30.09.24			30.09.23
	法定的	非有机的活动	不包括非有机的活动	法定的
	£百万	£百万	£百万	£百万	% 变化
巴克莱银行英国	5,659	—	5,659	5,795	(2)
巴克莱银行英国企业银行	1,322	—	1,322	1,375	(4)
巴克莱银行私人银行和财富管理	958	—	958	895	7
巴克莱银行投资银行	9,198	—	9,198	8,998	2
巴克莱银行美国消费银行	2,469	—	2,469	2,402	3
总部	218	(240)	458	315	45
总收入	19,824	(240)	20,064	19,780	1
公司运营成本主要包括（i）开发会员、商家和广告商的营销和促销费用，（ii）升级、优化和维护其网站和移动应用的网站和设施维护费用，（iii）员工薪酬和福利费用，（iv）专业和商务咨询费用，以及（v）进行公司业务的其他一般办公费用。运营成本在发生时作为费用。需要判断是否分别呈现收入成本、销售费用和一般和行政费用。公司考虑实质性问题、运营成本可以单独识别的方式以及对财务报表用户最有用的方式，并选择将所有成本和运营成本显示为一项“成本、销售、一般和行政费用”，如在未经审计的简明合并利润表中反映的一样。管理层认为这样的呈现方式在考虑公司运营性质和公司管理业务的方式时是有意义的。	(11,951)	—	(11,951)	(11,979)	—
英国监管费用	(93)	—	(93)	—	DIV/0!
诉讼和行为	(99)	—	(99)	(32)
总营业费用	(12,143)	—	(12,143)	(12,011)	(1)
其他净利润	37	—	37	7
减少减值前利润	7,718	(240)	7,958	7,776	2
信用减值损失	(1,271)	—	(1,271)	(1,329)	4
税前利润	6,447	(240)	6,687	6,447	4
归属利润	4,351	(233)	4,584	4,385	5

平均有形股东权益（十亿英镑）	50.4		50.4	47.0
平均有形股东权益回报率	11.5%		12.1%	12.5%
成本: 收入比率	61%		61%	61%

三个月结束了	30.09.24			30.09.23
	法定	无机活动	不包括无机的活动	法定
	m 英镑	m 英镑	m 英镑	m 英镑	% 改变
巴克莱英国	1,946	—	1,946	1,873	4
巴克莱英国企业银行	445	—	445	440	1
巴克莱私人银行和财富管理	326	—	326	337	(3)
巴克莱投资银行	2,851	—	2,851	2,686	6
巴克莱美国消费者银行	791	—	791	809	(2)
头办公室	188	—	188	113	66
总收入	6,547	—	6,547	6,258	5
运营成本	(3,954)	—	(3,954)	(3,949)	—
英国监管税	27	—	27	—	DIV/0！
诉讼并进行	(35)	—	(35)	—	DIV/0！
运营费用总额	(3,962)	—	(3,962)	(3,949)	—
其他净收入	21	—	21	9
减值前利润	2,606	—	2,606	2,318	12
信用减值费用	(374)	—	(374)	(433)	14
税前利润	2,232	—	2,232	1,885	18
应占利润	1,564	—	1,564	1,274	23

平均值有形股东权益（十亿英镑）	51.0		51.0	46.5
平均有形股东权益回报率	12.3%		12.3%	11.0%
成本：收入比率	61%		61%	63%

1	无机活动指特定的无机交易，作为FY23投资者更新的一部分宣布，旨在改善2024年之后的集团RoTE。在截至Q324的YTD中，这包括卖出表现不佳的意大利零售抵押贷款组合导致的2.2亿英镑亏损，以及德国消费金融业务的2千万英镑处置亏损，均产生于H124。Q324中没有发生无机交易。对于FY24，预计还将包括出售非表现不佳的意大利抵押贷款组合所导致的亏损，以及Tesco银行收购的影响。

财团董事财务总监审查

Q324集团整体表现

●

巴克莱银行在税前利润中获得了644700万英镑（Q323 YTD: 6,447百万英镑），RoTE为11.5%（Q323 YTD: 12.5%），每股收益（EPS）为29.3便士（Q323 YTD: 28.2便士）

●

集团在美国及其他地区的业务和地理位置多样，不同来源的收入占比较大。英镑对美元的升值对收入和利润产生了负面影响，但对信贷减值损失、总营业费用和风险加权资产带来了积极影响。

●

集团法定收入稳定在1982400万英镑，包括非有机活动的影响1

除去非自然增长影响外，集团收入增长1%，主要由于结构对冲收入增加、投资银行手续费增加、股票收入增加以及美元业务余额增长部分抵消了FICC收入下降以及巴克莱银行英国存款和房屋抵押品的不利产品动态。

●

集团总营业费用增至1,214,300万英镑（截至第三季度底：120.11亿英镑），其中包括英国银行业协会征费方案所产生的9300万英镑影响2

集团运营成本稳定在1195100万英镑，0.7亿英镑的成本效率节省超过通货膨胀，从而实现投资支出和业务增长

●

信贷减值损失额为£127100万（Q323 YTD: £1,329亿），由于美国信用卡逾期情况预计较高，部分弥补信用风险管理措施和方法改进的影响，以及跨投资组合的宏观经济前景改善。总体覆盖率为1.3%（2023年12月：1.4%）

●

有效税率(ETR)为20.2% (截至Q323年截止到日期为 19.5%)

●

归属于股东的利润为£435100万（Q323 YTD: £4,385亿）

●

总资产增加至1,531.1亿英镑 (2023年12月：1,477.5亿英镑), 受交易证券增加和投资银行相对于FY23季节性增加的驱动，部分抵消英镑对美元升值

●

每股净资产值增至 351便士（2023年12月：331便士）其中包括每股收益29.3便士，现金流对冲储备带来的9便士收益，以及由于宣布股票回购项目的完成以及在H124业绩公布后宣布的持续股票回购项目导致股数减少带来的大约6便士的收益。这些部分抵消了 Q324截至目前已支付的每股8便士的分红带来的减少以及净负面其他储备变动

资本和杠杆组

●

CET1比率保持稳定在13.8% （2023年12月：13.8%），因风险加权资产减少23亿英镑至340.4亿英镑，抵消了CET1资本减少3亿英镑至47.0亿英镑。

c.130个基点来自归属利润的增长

净利率下降约80个基点，其中包括股东分配，包括宣布的与FY23和H124业绩相关的18亿英镑的股份回购以及FY24股息的预提。

c.20bps decrease from other capital movements

c.20bps decrease as a result of a £5.2bn increase in RWAs, excluding the impact of foreign exchange movements, which includes regulatory model changes in Barclays UK

A £1.3bn decrease in CET1 capital due to a decrease in the currency translation reserve was primarily offset by a £7.5bn decrease in RWAs as a result of foreign exchange movements

●

The UK leverage ratio decreased to 4.9% (December 2023: 5.2%) due to a reduction in Tier 1 Capital of £1.7bn and increase in exposure of £29.2bn to £1,197.4bn (December 2023: £1,168.3bn). The decrease in capital was driven by the redemption of an AT1 instrument during the period. The increase in exposure was largely driven by an increase in trading securities and secured lending in IB, partially offset by the strengthening of GBP against USD

Group funding and liquidity

●

The liquidity metrics remain well above regulatory requirements, underpinned by well-diversified sources of funding, a stable global deposit franchise and a highly liquid balance sheet

●

The liquidity pool was £311.7bn (December 2023: £298.1bn). The increase in the liquidity pool was primarily driven by deposit growth in International Corporate Bank within the IB and in term wholesale funding

●

The average3 Liquidity Coverage Ratio (LCR) increased to 170.1% (December 2023: 161.4%), equivalent to a surplus of £126.0bn (December 2023: £117.7bn)

●

Total deposits increased by £4.0bn to £542.8bn (December 2023: £538.8bn)

●

The average4 Net Stable Funding Ratio (NSFR) was 135.6% (December 2023: 138.0%), which represents a £164.0bn (December 2023: £167.1bn) surplus above the 100% regulatory requirement

●

Wholesale funding outstanding, excluding repurchase agreements, was £178.9bn (December 2023: £176.8bn)

1	Inorganic activity refers to certain inorganic transactions announced as part of the FY23 Investor Update designed to improve Group RoTE beyond 2024. In Q324 YTD this included the £220m loss on sale of the performing Italian retail mortgage portfolio and the £20m loss on disposal from the German consumer finance business, both incurred in H124. There were no inorganic transactions in Q324. For FY24 this is expected to also include the loss on sale of the non-performing Italian mortgage portfolio and the impact of the Tesco Bank acquisition.
2	In August 2024, Barclays' final charge for the BoE levy scheme in the 2024/2025 financial year was confirmed at £93m, lower than the estimated charge of £120m recognised in Q124. As a result, a £27m release has been recognised in Q324. See Other Matters on page 7.
3	Represents average of the last 12 spot month end ratios.
4	Represents average of the last four spot quarter end ratios.

Group funding and liquidity (continued)

●

The Group issued £12.8bn equivalent of minimum requirement for own funds and eligible liabilities (MREL) instruments from Barclays PLC (the Parent company) in H124. The Group has a strong MREL position with a ratio of 34.9%, which is in excess of the regulatory requirement of 30.1% plus a confidential, institution specific, Prudential Regulation Authority (PRA) buffer

Other matters

●

The cumulative impact of all inorganic activity in 2024 is currently expected to reduce the Group’s CET1 ratio by c.10bps, and have a broadly neutral impact on FY24 Group RoTE as the estimated net gain upon the completion of the Tesco Bank acquisition in Q424 should broadly offset the losses on disposals from the Italian retail mortgage portfolios as well as from the disposal of the German consumer finance business:

●

Acquisition of Tesco Bank's retail banking business: on 9 February 2024, Barclays entered into an agreement with Tesco Personal Finance plc to acquire certain assets and liabilities of its retail banking business (including credit cards, unsecured loans and deposits) conducted under the "Tesco Bank" brand. The High Court approved the transfer on 17 October 2024, and it is expected to become effective on 1 November 2024

The acquisition is expected to generate an income gain of c.£0.5bn as a result of consideration payable for the net assets being lower than fair value, partially offset by an expected post-acquisition impairment charge from IFRS 9 recognition of c.£0.2bn, generating a day 1 net profit before tax impact of c.£0.3bn, and c.50bps increase to the FY24 Group RoTE. Including the day 1 profit before tax impact, Barclays Group’s CET1 ratio is now estimated to reduce by c.20bps (previously c.30bps) on completion primarily as a result of the addition of c.£7bn RWAs. These impacts will be confirmed as part of Barclays' FY24 Results

●

Disposal of Italian retail mortgages: on 24 April 2024, Barclays announced a transaction under which Barclays Bank Ireland PLC intended to dispose of its performing Italian retail mortgage portfolio, held in Head Office. The sale completed in Q224, generating a loss on disposal of £220m and reduced RWAs by £0.8bn. The transaction was broadly neutral to Barclays’ CET1 ratio and will reduce FY24 Group RoTE by c.40bps

On 22 October 2024 Barclays agreed the sale of its non-performing Italian retail mortgage portfolio. The sale of the majority of loans within this portfolio has now completed, with the sale of the remainder expected to complete later in Q424. The transaction is expected to generate a small pre-tax loss of approximately €30m, and reduce RWAs by c.€125m. As a result, the transaction is expected to be broadly neutral to Barclays’ CET1 ratio

Barclays remains in discussion with respect to the disposal of the remaining Swiss-Franc linked Italian retail mortgage portfolio. Should the sale occur, it is expected to generate a further small loss on sale, but be broadly neutral to Barclays’ CET1 ratio

●

Disposal of German consumer finance business: on 4 July 2024, Barclays Bank Ireland PLC agreed the sale of its German consumer finance business (comprising credit cards, unsecured personal loans and deposits) to BAWAG P.S.K., a wholly-owned subsidiary of BAWAG Group AG, for a small premium to net assets. When including disposal costs and accounting adjustments as required by IFRS 5 (Non-current Assets Held for Sale and Discontinued Operations), Barclays has recorded a £20m loss for the disposal group within Head Office in Q224, with an expected c.5bps reduction to FY24 Group RoTE. Completion of the sale, which is subject to certain conditions, including regulatory approvals and the sanction of the relevant courts, is expected to occur in Q424 or Q125. Once complete, the sale is expected to release c.£3.4bn of RWAs, increasing Barclays' CET1 ratio by c.10bps

●

FCA motor finance review: in January 2024, the UK Financial Conduct Authority (FCA) announced that it was appointing a skilled person to undertake a review of the historical use of discretionary commission arrangements and sales in the motor finance market across several firms. This follows two final decisions by the UK Financial Ombudsman Service (FOS), including one upholding a complaint against Clydesdale Financial Services Limited (CFS) (a subsidiary of Barclays PLC) in relation to commission arrangements and disclosure in the sale of motor finance products and a number of complaints and court claims, including some against CFS. We have commenced a judicial review challenge against the FOS in the High Court in relation to this decision. Barclays will co-operate fully with the FCA’s skilled person review, the outcome of which is unknown, including any potential financial impact. The FCA currently plans to set out next steps on this matter in May 2025. Barclays ceased operating in the motor finance market in late 2019 whilst CFS was a subsidiary of the Barclays Bank group

●

BoE levy scheme: following parliamentary approval, the new levy process commenced in Q124 replacing the Cash Ratio Deposit scheme as a means of funding the BoE's monetary policy and financial stability operations moving the charge from negative income to an operating expense. In August 2024, Barclays' final charge in the 2024/2025 financial year was confirmed at £93m, lower than the estimated charge of £120m recognised in Q124. As a result, a £27m release has been recognised in Q324. The £93m charge will be partially offset by increased income of c.£75m through lower funding costs during 2024

Anna Cross, Group Finance Director

Results by Business

Barclays UK	Nine months ended			Three months ended
	30.09.24	30.09.23		30.09.24	30.09.23
Income statement information	£m	£m	% Change	£m	£m	% Change
Net interest income	4,812	4,856	(1)	1,666	1,578	6
Net fee, commission and other income	847	939	(10)	280	295	(5)
Total income	5,659	5,795	(2)	1,946	1,873	4
Operating costs	(3,065)	(3,240)	5	(1,017)	(1,058)	4
UK regulatory levies	(42)	—	DIV/0!	12	—	DIV/0!
Litigation and conduct	(7)	12		(1)	9
Total operating expenses	(3,114)	(3,228)	4	(1,006)	(1,049)	4
Other net income	—	—		—	—	DIV/0!
Profit before impairment	2,545	2,567	(1)	940	824	14
Credit impairment charges	(82)	(267)	69	(16)	(59)	73
Profit before tax	2,463	2,300	7	924	765	21
Attributable profit	1,684	1,580	7	621	531	17

Performance measures
Return on average allocated tangible equity	21.4%	20.6%		23.4%	21.0%
Average allocated tangible equity (£bn)	10.5	10.2		10.6	10.1
Cost: income ratio	55%	56%		52%	56%
Loan loss rate (bps)	5	16		3	10
Net interest margin	3.21%	3.15%		3.34%	3.04%

	As at 30.09.24	As at 31.12.23	As at 30.09.23
Balance sheet information	£bn	£bn	£bn
Loans and advances to customers at amortised cost	199.3	202.8	204.9
Total assets	292.2	293.1	299.9
Customer deposits at amortised cost	236.3	241.1	243.2
Loan: deposit ratio	92%	92%	92%
Risk weighted assets	77.5	73.5	73.2
Period end allocated tangible equity	10.7	10.2	10.1

Analysis of Barclays UK	Nine months ended			Three months ended
Analysis of Barclays UK	30.09.24	30.09.23		30.09.24	30.09.23
Analysis of total income	£m	£m	% Change	£m	£m	% Change
Personal Banking	3,486	3,662	(5)	1,184	1,165	2
Barclaycard Consumer UK	706	722	(2)	249	238	5
Business Banking	1,467	1,411	4	513	470	9
Total income	5,659	5,795	(2)	1,946	1,873	4

Analysis of credit impairment (charges)/releases
Personal Banking	(37)	(205)	82	3	(85)
Barclaycard Consumer UK	(78)	(89)	12	(15)	29
Business Banking	33	27	22	(4)	(3)	(33)
Total credit impairment charges	(82)	(267)	69	(16)	(59)	73

	As at 30.09.24	As at 31.12.23	As at 30.09.23
Analysis of loans and advances to customers at amortised cost	£bn	£bn	£bn
Personal Banking	168.1	170.1	172.3
Barclaycard Consumer UK	10.6	9.7	9.6
Business Banking	20.6	23.0	23.0
Total loans and advances to customers at amortised cost	199.3	202.8	204.9

Analysis of customer deposits at amortised cost
Personal Banking	182.9	185.4	186.1
Barclaycard Consumer UK	—	—	—
Business Banking	53.4	55.7	57.1
Total customer deposits at amortised cost	236.3	241.1	243.2

Barclays UK delivered a RoTE of 21.4% (Q323 YTD: 20.6%) supported by robust income, strong asset quality and disciplined cost management, with continued investment in our transformation into a simpler, better and more balanced retail bank.

Income statement - Q324 YTD compared to Q323 YTD

●

Profit before tax increased 7% to £2,463m with a RoTE of 21.4% (Q323 YTD: 20.6%)

●

Total income decreased 2% to £5,659m. NII decreased 1% to £4,812m, as continued structural hedge momentum was more than offset by mortgage margin pressure and adverse product dynamics in deposits, which have stabilised throughout 2024. Net fee, commission and other income decreased 10% to £847m primarily from the impact of the transfer of Wealth Management & Investments (WM&I) to PBWM1

●

Total operating expenses decreased 4% to £3,114m, driven by the transfer of WM&I to PBWM1 partially offset by the impact of inflation. Ongoing efficiency savings continue to be reinvested, which includes investment in our transformation programme to drive sustainable improvement to the cost: income ratio

●

Credit impairment charges were £82m (Q323 YTD: £267m), driven by low delinquencies in UK cards, high quality mortgage lending portfolio and the improved macroeconomic outlook. UK cards 30 and 90 day arrears remained low at 0.7% (Q323: 0.9%) and 0.2% (Q323: 0.2%) respectively. The UK cards total coverage ratio reduced to 5.6% (December 2023: 6.8%) driven by release of the affordability linked adjustments, supported by a resilient credit performance

Balance sheet - 30 September 2024 compared to 31 December 2023

●

Loans and advances to customers at amortised cost decreased by £3.5bn to £199.3bn, driven by subdued mortgage lending reflecting wider market factors and continued repayment of government scheme lending in Business Banking

●

Customer deposits at amortised cost decreased £4.8bn to £236.3bn, driven by reduced Business Banking and retail current account balances, reflecting broader market trends. The loan: deposit ratio remained stable at 92% (December 2023: 92%)

●

RWAs increased to £77.5bn (December 2023: £73.5bn), primarily driven by regulatory model changes

1	WM&I was transferred in May 2023.

Barclays UK Corporate Bank	Nine months ended			Three months ended
	30.09.24	30.09.23		30.09.24	30.09.23
Income statement information	£m	£m	% Change	£m	£m	% Change
Net interest income	882	913	(3)	309	304	2
Net fee, commission, trading and other income	440	462	(5)	136	136	—
Total income	1,322	1,375	(4)	445	440	1
Operating costs	(685)	(647)	(6)	(229)	(224)	(2)
UK regulatory levies	(23)	—	DIV/0!	7	—	DIV/0!
Litigation and conduct	—	2		—	2
Total operating expenses	(708)	(645)	(10)	(222)	(222)	—
Other net income	—	2		—	—	DIV/0!
Profit before impairment	614	732	(16)	223	218	2
Credit impairment (charges)/releases	(36)	45		(13)	(15)	13
Profit before tax	578	777	(26)	210	203	3
Attributable profit	392	525	(25)	144	129	12

Performance measures
Return on average allocated tangible equity	17.3%	24.4%		18.8%	18.3%
Average allocated tangible equity (£bn)	3.0	2.9		3.1	2.8
Cost: income ratio	54%	47%		50%	50%
Loan loss rate (bps)	19	(22)		21	21

	As at 30.09.24	As At 31.12.23	As at 30.09.23
Balance sheet information	£bn	£bn	£bn
Loans and advances to customers at amortised cost	24.8	26.4	26.9
Deposits at amortised cost	82.3	84.9	82.7
Risk weighted assets	22.1	20.9	19.5
Period end allocated tangible equity	3.0	3.0	2.8

	Nine months ended			Three months ended
	30.09.24	30.09.23		30.09.24	30.09.23
Analysis of total income	£m	£m	% Change	£m	£m	% Change
Corporate lending	196	198	(1)	67	69	(3)
Transaction banking	1,126	1,177	(4)	378	371	2
Total income	1,322	1,375	(4)	445	440	1

UKCB delivered a RoTE of 17.3% (Q323 YTD: 24.4%), as income from increased average deposits is offset by lower liquidity pool income, the year-to-date impact of continuing investment to support future growth ambitions and the BoE levy scheme.

Income statement - Q324 YTD compared to Q323 YTD

●

Profit before tax decreased 26% to £578m (Q323 YTD: £777m)

●

Total income decreased 4% to £1,322m as increased deposit income from higher average balances in the higher interest rate environment was more than offset by lower liquidity pool income

●

Total operating expenses increased 10% to £708m, reflecting higher ongoing spend to support growth ambitions and the year-to-date impact of the BoE levy scheme

●

Credit impairment charges were £36m (Q323 YTD: £45m release), driven by resilient underlying credit performance and limited single name charges. The release in the prior period was driven by the improved macroeconomic outlook

Balance sheet - 30 September 2024 compared to 31 December 2023

●

Loans and advances to customers at amortised cost decreased by £1.6bn to £24.8bn (December 2023: £26.4bn) with underlying growth more than offset by a c.£2bn reduction from refinements to the perimeter with the International Corporate Bank within IB

●

Customer deposits at amortised cost decreased by £2.6bn at £82.3bn (December 2023: £84.9bn) primarily driven by a c.£2bn reduction from refinements to the perimeter with the International Corporate Bank within IB

●

RWAs increased to £22.1bn (December 2023: £20.9bn) reflecting higher client lending limits, supporting future lending growth

Barclays Private Bank and Wealth Management	Nine months ended				Three months ended
	30.09.24	30.09.23			30.09.24	30.09.23
Income statement information	£m	£m	% Change		£m	£m	% Change
Net interest income	551	586	(6)		189	219	(14)
Net fee, commission and other income	407	309	32		137	118	16
Total income	958	895	7		326	337	(3)
Operating costs	(656)	(540)	(21)		(222)	(214)	(4)
UK regulatory levies	(2)	—	DIV/0!		1	—	DIV/0!
Litigation and conduct	1	—			—	—
Total operating expenses	(657)	(540)	(22)		(221)	(214)	(3)
Other net income	—	—	DIV/0!	`	—	—	DIV/0!
Profit before impairment	301	355	(15)		105	123	(15)
Credit impairment (charges)/releases	(4)	(8)	50		(7)	2
Profit before tax	297	347	(14)		98	125	(22)
Attributable profit	225	283	(20)		74	102	(27)

Performance measures
Return on average allocated tangible equity	29.5%	37.1%			29.0%	41.2%
Average allocated tangible equity (£bn)	1.0	1.0			1.0	1.0
Cost: income ratio	69%	60%			68%	63%
Loan loss rate (bps)	4	7			19	(7)

Key facts	£bn	£bn
Invested assets1	122.4	105.4
Clients assets and liabilities2	201.5	178.7

	As at 30.09.24	As At 31.12.23	As at 30.09.23
Balance sheet information	£bn	£bn	£bn
Loans and advances to customers at amortised cost	14.0	13.6	13.4
Deposits at amortised cost	64.8	60.3	59.7
Risk weighted assets	7.3	7.2	7.2
Period end allocated tangible equity	1.0	1.0	1.0

PBWM delivered a RoTE of 29.5% (Q323 YTD: 37.1%), supported by 13% growth year-on-year in client balances to £201.5bn, which is predominantly driven by invested assets1 as a result of market movements and underlying growth.

Income statement - Q324 YTD compared to Q323 YTD

●

Profit before tax decreased 14% to £297m with a RoTE of 29.5% (Q323 YTD: 37.1%)

●

Total income increased 7% to £958m reflecting the transfer of WM&I from Barclays UK3 and higher client assets and liabilities balances, partially offset by lower liquidity pool income

●

Total operating expenses increased 22% to £657m, reflecting the transfer of WM&I from Barclays UK and higher ongoing spend, including hiring, to support business growth

Balance sheet - 30 September 2024 compared to 31 December 2023

●

Client assets and liabilities increased £18.6bn to £201.5bn, driven by £13.6bn increase in invested assets as a result of market movements and underlying growth, as well as £4.5bn increase in deposits and £0.5bn increase in gross loans to clients

●

Deposits at amortised cost increased £4.5bn to £64.8bn, driven by underlying growth from client inflows

●

RWAs were stable at £7.3bn (December 2023: £7.2bn)

1	Invested assets represent assets under management and supervision.
2	Client assets and liabilities refers to customer deposits, lending and invested assets.
3	WM&I was transferred in May 2023.

Barclays Investment Bank	Nine months ended			Three months ended
	30.09.24	30.09.23		30.09.24	30.09.23
Income statement information	£m	£m	% Change	£m	£m	% Change
Net interest income	747	1,111	(33)	282	397	(29)
Net trading income	4,979	5,283	(6)	1,512	1,497	1
Net fee, commission and other income	3,472	2,604	33	1,057	792	33
Total income	9,198	8,998	2	2,851	2,686	6
Operating costs	(5,763)	(5,685)	(1)	(1,906)	(1,840)	(4)
UK regulatory levies	(26)	—	DIV/0!	7	—	DIV/0!
Litigation and conduct	(29)	7		(17)	6
Total operating expenses	(5,818)	(5,678)	(2)	(1,916)	(1,834)	(4)
Other net income	—	1		—	2
Profit before impairment	3,380	3,321	2	935	854	9
Credit impairment (charges)/releases	(77)	(79)	3	(43)	23
Profit before tax	3,303	3,242	2	892	877	2
Attributable profit	2,266	2,190	3	652	580	12

Performance measures
Return on average allocated tangible equity	10.1%	10.1%		8.8%	8.0%
Average allocated tangible equity (£bn)	29.8	29.0		29.5	28.8
Cost: income ratio	63%	63%		67%	68%
Loan loss rate (bps)	9	10		15	(8)

	As at 30.09.24	As at 31.12.23	As at 30.09.23
Balance sheet information	£bn	£bn	£bn
Loans and advances to customers at amortised cost	64.5	62.7	62.3
Loans and advances to banks at amortised cost	6.7	7.3	9.5
Debt securities at amortised cost	44.8	38.9	36.3
Loans and advances at amortised cost	116.0	108.9	108.1
Trading portfolio assets	185.8	174.5	155.3
Derivative financial instrument assets	256.7	255.1	280.4
Financial assets at fair value through the income statement	210.8	202.5	237.2
Cash collateral and settlement balances	134.7	102.3	134.6
Deposits at amortised cost	139.8	132.7	154.2
Derivative financial instrument liabilities	249.4	249.7	268.3
Risk weighted assets	194.2	197.3	201.1
Period end allocated tangible equity	28.4	29.0	29.0

	Nine months ended			Three months ended
	30.09.24	30.09.23		30.09.24	30.09.23
Analysis of total income	£m	£m	% Change	£m	£m	% Change
FICC	3,733	4,121	(9)	1,180	1,147	3
Equities	2,271	1,942	17	692	675	3
Global Markets	6,004	6,063	(1)	1,872	1,822	3
Advisory	472	422	12	186	80
Equity capital markets	253	181	40	64	62	3
Debt capital markets	1,165	847	38	344	233	48
Banking fees and underwriting	1,890	1,450	30	594	375	58
Corporate lending	108	236	(54)	(21)	103
Transaction banking	1,196	1,249	(4)	406	386	5
International Corporate Bank	1,304	1,485	(12)	385	489	(21)
Investment Banking	3,194	2,935	9	979	864	13
Total income	9,198	8,998	2	2,851	2,686	6

IB delivered a RoTE of 10.1% (Q323 YTD: 10.1%) reflecting the benefit of diversified income streams across businesses and geographies. An increase in Banking fees and underwriting and Equities income was partially offset by a decrease in FICC and International Corporate Bank income. Costs were marginally up while impairment remained below prior year.

Income statement - Q324 YTD compared to Q323 YTD

●

IB has a diverse income profile across businesses and geographies including a significant presence in the US. The appreciation of GBP against USD adversely impacted income and profits, and positively impacted credit impairment charges, total operating expenses and RWAs

●

Profit before tax increased to £3,303m (Q323 YTD: £3,242m)

●

Total income increased 2% to £9,198m

Global Markets income decreased 1% to £6,004m as increased income in Equities was more than offset by lower income in FICC

Equities income increased 17% to £2,271m, reflecting increased client activity in Derivatives and Cash products, additionally supported by a £125m fair value gain on Visa B shares in Q124

FICC income decreased 9% to £3,733m, reflecting lower client activity in Macro and the non-repeat of the inflation benefit from prior year, partially offset by strong performance in securitised products

Investment Banking income increased 9% to £3,194m

Banking fees and underwriting income increased 30% to £1,890m. Equity capital markets fees increased 40% driven by increased deal activity including fees booked on a large UK rights issue completed in Q224. Debt capital markets fees increased 38% driven by increased activity in leverage finance and investment grade issuance. Advisory fee income increased 12% to £472m

International Corporate Bank income decreased 12% to £1,304m, including the £85m impact of fair value losses on leverage finance lending in Q324, which decreased Corporate lending income. Transaction banking income decreased 4% to £1,196m driven by margin compression as customers continue to migrate to higher interest returning products and lower liquidity pool income

●

Total operating expenses increased 2% to £5,818m reflecting the impact of inflation, Q224 structural cost actions and the estimated impact of the BoE levy scheme, partially offset by efficiency savings

●

Credit impairment charges were £77m (Q323 YTD: £79m), driven by single name charges, partially offset by the benefit of credit protection and the improved macroeconomic outlook

Balance sheet - 30 September 2024 compared to 31 December 2023

●

Loans and advances at amortised costs increased £7.1bn to £116.0bn driven by increased investment in debt securities and c.£2bn from refinements to the perimeter with UKCB

●

Trading portfolio assets increased £11.3bn to £185.8bn driven by increased trading in debt securities to facilitate client demand in Global Markets

●

Derivative assets increased £1.6bn to £256.7bn and liabilities remained broadly stable at £249.4bn, reflecting increased client activity in Equities, offset by a decrease in Macro due to lower market volatility

●

Financial assets at fair value through the income statement increased £8.3bn to £210.8bn driven by increased secured lending balances

●

Deposits at amortised cost increased £7.1bn to £139.8bn driven by growth in deposits, primarily in International Corporate Bank and c.£2bn from refinements to the perimeter with UKCB

●

RWAs decreased to £194.2bn (December 2023: £197.3bn) driven by the strengthening of GBP against USD

Barclays US Consumer Bank	Nine months ended			Three months ended
	30.09.24	30.09.23		30.09.24	30.09.23
Income statement information	£m	£m	% Change	£m	£m	% Change
Net interest income	1,981	1,918	3	647	662	(2)
Net fee, commission and other income	488	484	1	144	147	(2)
Total income	2,469	2,402	3	791	809	(2)
Operating costs	(1,179)	(1,232)	4	(384)	(404)	5
UK regulatory levies	—	—	DIV/0!	—	—	DIV/0!
Litigation and conduct	(14)	(4)		(9)	—	DIV/0!
Total operating expenses	(1,193)	(1,236)	3	(393)	(404)	3
Other net income	—	—	DIV/0!	—	—	DIV/0!
Profit before impairment	1,276	1,166	9	398	405	(2)
Credit impairment charges	(995)	(989)	(1)	(276)	(404)	32
Profit before tax	281	177	59	122	1
Attributable profit	208	134	55	89	3

Performance measures
Return on average allocated tangible equity	8.4%	5.7%		10.9%	0.4%
Average allocated tangible equity (£bn)	3.3	3.2		3.3	3.1
Cost: income ratio	48%	51%		50%	50%
Loan loss rate (bps)	497	480		411	582
Net interest margin	10.64%	10.84%		10.38%	10.88%

	As at 30.09.24	As at 31.12.23	As at 30.09.23
Balance sheet information	£bn	£bn	£bn
Loans and advances to customers at amortised cost	23.2	24.2	24.3
Deposits at amortised cost	19.4	19.7	19.3
Risk weighted assets	23.2	24.8	24.1
Period end allocated tangible equity	3.2	3.4	3.3

USCB delivered a RoTE of 8.4% (Q323 YTD: 5.7%) with underlying growth in cards balances driving higher income, partially offset by the strengthening of GBP against USD. c.£0.9bn ($1.1bn) of the outstanding credit card receivables were sold to Blackstone in Q124, providing a benefit from reduced RWAs.

Income statement - Q324 YTD compared to Q323 YTD

●

The appreciation of GBP against USD adversely impacted income and profits, and positively impacted credit impairment charges, total operating expenses and RWAs

●

Profit before tax was £281m (Q323 YTD: £177m)

●

Total income increased 3% to £2,469m. NII increased 3% to £1,981m reflecting underlying growth in cards balances, partially offset by the strengthening of GBP against USD. Net fee, commission and other income increased 1% to £488m driven by higher purchases and account growth1

●

Total operating expenses decreased 3% to £1,193m, driven by efficiency savings and the strengthening of GBP against USD

●

Credit impairment charges were £995m (Q323 YTD: £989m), driven by anticipated higher delinquencies in US cards, which led to higher coverage ratios, partially offset by the impact of credit risk management actions and methodology enhancements. 30 and 90 day arrears for US cards were 3.0% (Q323: 2.7%) and 1.6% (Q323: 1.3%) respectively. The USCB total coverage ratio was 10.3% (December 2023: 10.1%) as ongoing reserve build was partially offset by the impact of a debt sale in Q324

Balance sheet - 30 September 2024 compared to 31 December 2023

●

Loans and advances to customers at amortised cost remained broadly stable at £23.2bn (December 2023: £24.2bn) with underlying growth in cards balances more than offset by the strengthening of GBP against USD

●

Customer deposits at amortised cost were broadly stable at £19.4bn (December 2023: £19.7bn), with underlying deposit growth, in line with USCB's ambition to grow core deposits, more than offset by the strengthening of GBP against USD

●

RWAs decreased to £23.2bn (December 2023: £24.8bn), reflecting the sale of receivables to Blackstone in Q124 and strengthening of GBP against USD

1	Includes Barclays accounts and those serviced for third parties.

Head Office	Nine months ended			Three months ended
	30.09.24	30.09.23		30.09.24	30.09.23
Income statement information	£m	£m	% Change	£m	£m	% Change
Net interest income	463	185		215	87
Net fee, commission and other income	(245)	130		(27)	26
Total income	218	315	(31)	188	113	66
Operating costs	(603)	(635)	5	(197)	(210)	6
UK regulatory levies	—	—	DIV/0!	—	—	DIV/0!
Litigation and conduct	(50)	(49)	(2)	(7)	(16)	56
Total operating expenses	(653)	(684)	5	(204)	(226)	10
Other net income	37	4		21	7
(Loss)/profit before impairment	(398)	(365)	(9)	5	(106)
Credit impairment (charges)/releases	(77)	(31)		(19)	20
Loss before tax	(475)	(396)	(20)	(14)	(86)	84
Attributable loss	(424)	(327)	(30)	(16)	(71)	77

Performance measures
Average allocated tangible equity (£bn)	2.8	0.7		3.5	0.7

	As at 30.09.24	As at 31.12.23	As at 30.09.23
Balance sheet information	£bn	£bn	£bn
Risk weighted assets	16.1	19.0	16.8
Period end allocated tangible equity	4.9	3.6	2.0

Income statement - Q324 YTD compared to Q323 YTD

●

Loss before tax was £475m (Q323 YTD: £396m)

●

Total income decreased to £218m (Q323 YTD: £315m) mainly driven by the loss on sale of the performing Italian retail mortgage portfolio and the impact of the disposal of the German consumer finance business. These were partially offset by a gain on disposal of a legacy investment and hedge accounting

●

Total operating expenses decreased to £653m (Q323 YTD: £684m)

●

Credit impairment charges were £77m (Q323 YTD: £31m), reflecting stable credit performance. The lower charge in the prior period was influenced by easing inflationary pressure in the modelled German consumer finance business

Balance sheet - 30 September 2024 compared to 31 December 2023

●

RWAs decreased to £16.1bn (December 2023: £19.0bn) mainly from the sale of the performing Italian retail mortgage portfolio and a decrease in relation to merchant acquiring cash in transit settlement balances

Quarterly Results Summary

Barclays Group
	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Income statement information	£m	£m	£m	£m	£m	£m	£m	£m
Net interest income	3,308	3,056	3,072	3,139	3,247	3,270	3,053	2,741
Net fee, commission and other income	3,239	3,268	3,881	2,459	3,011	3,015	4,184	3,060
Total income	6,547	6,324	6,953	5,598	6,258	6,285	7,237	5,801
Operating costs	(3,954)	(3,999)	(3,998)	(4,735)	(3,949)	(3,919)	(4,111)	(3,748)
UK regulatory levies1	27	—	(120)	(180)	—	—	—	(176)
Litigation and conduct	(35)	(7)	(57)	(5)	—	(33)	1	(79)
Total operating expenses	(3,962)	(4,006)	(4,175)	(4,920)	(3,949)	(3,952)	(4,110)	(4,003)
Other net income/(expenses)	21	4	12	(16)	9	3	(5)	10
Profit before impairment	2,606	2,322	2,790	662	2,318	2,336	3,122	1,808
Credit impairment charges	(374)	(384)	(513)	(552)	(433)	(372)	(524)	(498)
Profit before tax	2,232	1,938	2,277	110	1,885	1,964	2,598	1,310
Tax (charges)/credit	(412)	(427)	(465)	23	(343)	(353)	(561)	33
Profit after tax	1,820	1,511	1,812	133	1,542	1,611	2,037	1,343
Non-controlling interests	(3)	(23)	(3)	(25)	(9)	(22)	(8)	(22)
Other equity instrument holders	(253)	(251)	(259)	(219)	(259)	(261)	(246)	(285)
Attributable profit/(loss)	1,564	1,237	1,550	(111)	1,274	1,328	1,783	1,036

Performance measures
Return on average tangible shareholders' equity	12.3%	9.9%	12.3%	(0.9)%	11.0%	11.4%	15.0%	8.9%
Average tangible shareholders' equity (£bn)	51.0	49.8	50.5	48.9	46.5	46.7	47.6	46.7
Cost: income ratio	61%	63%	60%	88%	63%	63%	57%	69%
Loan loss rate (bps)	37	38	51	54	42	37	52	49
Basic earnings per ordinary share	10.7p	8.3p	10.3p	(0.7)p	8.3p	8.6p	11.3p	6.5p
Basic weighted average number of shares (m)	14,648	14,915	14,983	15,092	15,405	15,523	15,770	15,828
Period end number of shares (m)	14,571	14,826	15,091	15,155	15,239	15,556	15,701	15,871
Period end tangible shareholders' equity (£bn)	51.1	50.4	50.6	50.2	48.2	45.3	47.3	46.8

Balance sheet and capital management2	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Loans and advances to customers at amortised cost	326.5	329.8	332.1	333.3	339.6	337.4	343.6	343.3
Loans and advances to banks at amortised cost	8.1	8.0	8.5	9.5	11.5	10.9	11.0	10.0
Debt securities at amortised cost	64.6	61.7	57.4	56.7	54.3	53.1	48.9	45.5
Loans and advances at amortised cost	399.2	399.5	397.9	399.5	405.4	401.4	403.5	398.8
Loans and advances at amortised cost impairment coverage ratio	1.3%	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%
Total assets	1,531.1	1,576.6	1,577.1	1,477.5	1,591.7	1,549.7	1,539.1	1,513.7
Deposits at amortised cost	542.8	557.5	552.3	538.8	561.3	554.7	555.7	545.8
Tangible net asset value per share	351p	340p	335p	331p	316p	291p	301p	295p
Common equity tier 1 ratio	13.8%	13.6%	13.5%	13.8%	14.0%	13.8%	13.6%	13.9%
Common equity tier 1 capital	47.0	47.7	47.1	47.3	48.0	46.6	46.0	46.9
Risk weighted assets	340.4	351.4	349.6	342.7	341.9	336.9	338.4	336.5
UK leverage ratio	4.9%	5.0%	4.9%	5.2%	5.0%	5.1%	5.1%	5.3%
UK leverage exposure	1,197.4	1,222.7	1,226.5	1,168.3	1,202.4	1,183.7	1,168.9	1,130.0

Funding and liquidity
Group liquidity pool (£bn)	311.7	328.7	323.5	298.1	335.0	330.7	333.0	318.0
Liquidity coverage ratio	170.1%	167.0%	163.2%	161.4%	158.7%	157.2%	156.6%	155.5%
Net stable funding ratio	135.6%	136.4%	135.7%	138.0%	138.2%	138.8%	139.2%	137.0%
Loan: deposit ratio	74%	72%	72%	74%	72%	72%	73%	73%

1	Comprises the impact of the BoE levy scheme and the UK bank levy.
2	Refer to pages 34 to 38 for further information on how capital, RWAs and leverage are calculated.

Barclays UK
	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Income statement information	£m	£m	£m	£m	£m	£m	£m	£m
Net interest income	1,666	1,597	1,549	1,575	1,578	1,660	1,618	1,600
Net fee, commission and other income	280	290	277	217	295	301	343	370
Total income	1,946	1,887	1,826	1,792	1,873	1,961	1,961	1,970
Operating costs	(1,017)	(1,041)	(1,007)	(1,153)	(1,058)	(1,090)	(1,092)	(1,108)
UK regulatory levies	12	—	(54)	(30)	—	—	—	(26)
Litigation and conduct	(1)	(4)	(2)	(4)	9	5	(2)	(13)
Total operating expenses	(1,006)	(1,045)	(1,063)	(1,187)	(1,049)	(1,085)	(1,094)	(1,147)
Other net income	—	—	—	—	—	—	—	1
Profit before impairment	940	842	763	605	824	876	867	824
Credit impairment charges	(16)	(8)	(58)	(37)	(59)	(95)	(113)	(157)
Profit before tax	924	834	705	568	765	781	754	667
Attributable profit	621	584	479	382	531	534	515	474

Balance sheet information	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Loans and advances to customers at amortised cost	199.3	198.7	200.8	202.8	204.9	206.8	208.2	205.1
Customer deposits at amortised cost	236.3	236.8	237.2	241.1	243.2	249.8	254.3	258.0
Loan: deposit ratio	92%	91%	92%	92%	92%	90%	90%	87%
Risk weighted assets	77.5	76.5	76.5	73.5	73.2	73.0	74.6	73.1
Period end allocated tangible equity	10.7	10.6	10.7	10.2	10.1	10.1	10.3	10.1

Performance measures
Return on average allocated tangible equity	23.4%	22.3%	18.5%	14.9%	21.0%	20.9%	20.0%	18.7%
Average allocated tangible equity (£bn)	10.6	10.5	10.4	10.2	10.1	10.2	10.3	10.2
Cost: income ratio	52%	55%	58%	66%	56%	55%	56%	58%
Loan loss rate (bps)	3	1	11	7	10	17	20	27
Net interest margin	3.34%	3.22%	3.09%	3.07%	3.04%	3.22%	3.18%	3.10%

Analysis of Barclays UK	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Analysis of total income	£m	£m	£m	£m	£m	£m	£m	£m
Personal Banking	1,184	1,174	1,128	1,067	1,165	1,244	1,253	1,229
Barclaycard Consumer UK	249	228	229	242	238	237	247	269
Business Banking	513	485	469	483	470	480	461	472
Total income	1,946	1,887	1,826	1,792	1,873	1,961	1,961	1,970

Analysis of credit impairment (charges)/releases
Personal Banking	3	(26)	(14)	35	(85)	(92)	(28)	(120)
Barclaycard Consumer UK	(15)	(25)	(38)	(73)	29	(35)	(83)	(12)
Business Banking	(4)	43	(6)	1	(3)	32	(2)	(25)
Total credit impairment charges	(16)	(8)	(58)	(37)	(59)	(95)	(113)	(157)

Analysis of loans and advances to customers at amortised cost	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Personal Banking	168.1	167.3	169.0	170.1	172.3	173.3	173.6	169.7
Barclaycard Consumer UK	10.6	10.2	9.8	9.7	9.6	9.3	9.0	9.2
Business Banking	20.6	21.2	22.0	23.0	23.0	24.2	25.6	26.2
Total loans and advances to customers at amortised cost	199.3	198.7	200.8	202.8	204.9	206.8	208.2	205.1

Analysis of customer deposits at amortised cost
Personal Banking	182.9	183.3	183.4	185.4	186.1	191.1	194.3	195.6
Barclaycard Consumer UK	—	—	—	—	—	—	—	—
Business Banking	53.4	53.5	53.8	55.7	57.1	58.7	60.0	62.4
Total customer deposits at amortised cost	236.3	236.8	237.2	241.1	243.2	249.8	254.3	258.0

Barclays UK Corporate Bank
	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Income statement information	£m	£m	£m	£m	£m	£m	£m	£m
Net interest income	309	296	277	247	304	299	310	324
Net fee, commission, trading and other income	136	147	157	148	136	173	153	153
Total income	445	443	434	395	440	472	463	477
Operating costs	(229)	(235)	(221)	(258)	(224)	(213)	(210)	(213)
UK regulatory levies	7	—	(30)	(8)	—	—	—	(7)
Litigation and conduct	—	—	—	(1)	2	—	—	—
Total operating expenses	(222)	(235)	(251)	(267)	(222)	(213)	(210)	(220)
Other net (expenses)/income	—	—	—	(5)	—	1	1	1
Profit before impairment	223	208	183	123	218	260	254	258
Credit impairment (charges)/releases	(13)	(8)	(15)	(18)	(15)	84	(24)	(52)
Profit before tax	210	200	168	105	203	344	230	206
Attributable profit	144	135	113	59	129	239	157	131

Balance sheet information	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Loans and advances to customers at amortised cost	24.8	25.7	25.7	26.4	26.9	26.9	27.2	26.9
Deposits at amortised cost	82.3	84.9	81.7	84.9	82.7	82.6	83.6	84.4
Risk weighted assets	22.1	21.9	21.4	20.9	19.5	20.6	20.2	21.1
Period end allocated tangible equity	3.0	3.0	3.0	3.0	2.8	2.9	2.9	3.0

Performance measures
Return on average allocated tangible equity	18.8%	18.0%	15.2%	8.4%	18.3%	32.9%	21.7%	17.8%
Average allocated tangible equity (£bn)	3.1	3.0	3.0	2.8	2.8	2.9	2.9	2.9
Cost: income ratio	50%	53%	58%	68%	50%	45%	45%	46%
Loan loss rate (bps)	21	12	23	27	21	(123)	36	74

Analysis of total income	£m	£m	£m	£m	£m	£m	£m	£m
Corporate lending	67	57	72	64	69	68	61	66
Transaction banking	378	386	362	331	371	404	402	411
Total income	445	443	434	395	440	472	463	477

Barclays Private Bank and Wealth Management
	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Income statement information	£m	£m	£m	£m	£m	£m	£m	£m
Net interest income	189	187	175	182	219	186	181	205
Net fee, commission and other income	137	133	137	131	118	113	78	81
Total income	326	320	312	313	337	299	259	286
Operating costs	(222)	(220)	(214)	(255)	(214)	(182)	(144)	(153)
UK regulatory levies	1	—	(3)	(4)	—	—	—	(4)
Litigation and conduct	—	1	—	2	—	—	—	—
Total operating expenses	(221)	(219)	(217)	(257)	(214)	(182)	(144)	(157)
Other net income	—	—	—	—	—	—	—	—
Profit before impairment	105	101	95	56	123	117	115	129
Credit impairment (charges)/releases	(7)	3	—	4	2	(7)	(3)	(10)
Profit before tax	98	104	95	60	125	110	112	119
Attributable profit	74	77	74	47	102	91	90	92

Balance sheet information	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Loans and advances to customers at amortised cost	14.0	13.9	13.7	13.6	13.4	13.8	14.3	14.4
Deposits at amortised cost	64.8	64.6	61.9	60.3	59.7	59.2	60.8	62.3
Risk weighted assets	7.3	7.0	7.2	7.2	7.2	7.2	7.5	7.8
Period end allocated tangible equity	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.1
Client assets and liabilities1	201.5	198.5	189.1	182.9	178.7	174.1	141.5	139.4

Performance measures
Return on average allocated tangible equity	29.0%	30.8%	28.7%	19.1%	41.2%	35.9%	34.5%	34.9%
Average allocated tangible equity (£bn)	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.1
Cost: income ratio	68%	68%	70%	82%	63%	61%	56%	55%
Loan loss rate (bps)	19	(9)	—	(10)	(7)	20	7	26

1	Client assets and liabilities refers to customer deposits, lending and invested assets.

Barclays Investment Bank
	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Income statement information	£m	£m	£m	£m	£m	£m	£m	£m
Net interest income	282	268	197	282	397	555	159	228
Net trading income	1,512	1,485	1,982	757	1,497	1,351	2,435	1,197
Net fee, commission and other income	1,057	1,266	1,149	998	792	837	975	731
Total income	2,851	3,019	3,328	2,037	2,686	2,743	3,569	2,156
Operating costs	(1,906)	(1,900)	(1,957)	(1,934)	(1,840)	(1,813)	(2,032)	(1,619)
UK regulatory levies	7	—	(33)	(123)	—	—	—	(119)
Litigation and conduct	(17)	(3)	(9)	(2)	6	(1)	2	(55)
Total operating expenses	(1,916)	(1,903)	(1,999)	(2,059)	(1,834)	(1,814)	(2,030)	(1,793)
Other net (expenses)/income	—	—	—	(1)	2	—	(1)	1
Profit/(loss) before impairment	935	1,116	1,329	(23)	854	929	1,538	364
Credit impairment (charges)/releases	(43)	(44)	10	(23)	23	(77)	(25)	(22)
Profit/(loss) before tax	892	1,072	1,339	(46)	877	852	1,513	342
Attributable profit/(loss)	652	715	899	(149)	580	562	1,048	313

Balance sheet information	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Loans and advances to customers at amortised cost	64.5	66.6	64.6	62.7	62.3	59.1	63.1	64.6
Loans and advances to banks at amortised cost	6.7	6.6	7.6	7.3	9.5	9.0	9.1	8.1
Debt securities at amortised cost	44.8	41.7	40.4	38.9	36.3	35.1	30.7	27.2
Loans and advances at amortised cost	116.0	114.9	112.6	108.9	108.1	103.2	102.9	99.9
Trading portfolio assets	185.8	197.2	195.3	174.5	155.3	165.0	137.6	133.7
Derivative financial instrument assets	256.7	251.4	248.9	255.1	280.4	264.8	256.5	301.6
Financial assets at fair value through the income statement	210.8	211.7	225.1	202.5	237.2	231.1	243.8	209.4
Cash collateral and settlement balances	134.7	139.8	129.8	102.3	134.6	122.1	124.3	106.2
Deposits at amortised cost	139.8	151.3	151.1	132.7	154.2	142.9	137.3	121.5
Derivative financial instrument liabilities	249.4	241.8	241.5	249.7	268.3	254.5	246.7	288.9
Risk weighted assets	194.2	203.3	200.4	197.3	201.1	197.2	198.0	195.9
Period end allocated tangible equity	28.4	29.7	29.6	29.0	29.0	28.7	28.9	28.6

Performance measures
Return on average allocated tangible equity	8.8%	9.6%	12.0%	(2.1)%	8.0%	7.7%	14.4%	4.0%
Average allocated tangible equity (£bn)	29.5	29.9	30.0	28.9	28.8	29.0	29.1	30.9
Cost: income ratio	67%	63%	60%	101%	68%	66%	57%	83%
Loan loss rate (bps)	15	15	(4)	8	(8)	30	10	9

Analysis of total income	£m	£m	£m	£m	£m	£m	£m	£m
FICC	1,180	1,149	1,404	724	1,147	1,186	1,788	976
Equities	692	696	883	431	675	563	704	440
Global Markets	1,872	1,845	2,287	1,155	1,822	1,749	2,492	1,416
Advisory	186	138	148	171	80	130	212	197
Equity capital markets	64	121	68	38	62	69	50	40
Debt capital markets	344	420	401	301	233	273	341	243
Banking Fees and Underwriting	594	679	617	510	375	472	603	480
Corporate lending	(21)	87	42	(23)	103	100	33	(194)
Transaction banking	406	408	382	395	386	422	441	454
International Corporate Banking	385	495	424	372	489	522	474	260
Investment Banking	979	1,174	1,041	882	864	994	1,077	740
Total income	2,851	3,019	3,328	2,037	2,686	2,743	3,569	2,156

Barclays US Consumer Bank
	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Income statement information	£m	£m	£m	£m	£m	£m	£m	£m
Net interest income	647	646	688	686	662	622	634	639
Net fee, commission, trading and other income	144	173	171	180	147	145	192	149
Total income	791	819	859	866	809	767	826	788
Operating costs	(384)	(408)	(387)	(418)	(404)	(401)	(427)	(425)
UK regulatory levies	—	—	—	—	—	—	—	—
Litigation and conduct	(9)	(2)	(3)	(2)	—	(4)	—	(3)
Total operating expenses	(393)	(410)	(390)	(420)	(404)	(405)	(427)	(428)
Other net income	—	—	—	—	—	—	—	—
Profit before impairment	398	409	469	446	405	362	399	360
Credit impairment charges	(276)	(309)	(410)	(449)	(404)	(264)	(321)	(224)
Profit/(loss) before tax	122	100	59	(3)	1	98	78	136
Attributable profit/(loss)	89	75	44	(3)	3	72	59	101

Balance sheet information	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Loans and advances to customers at amortised cost	23.2	24.3	23.6	24.2	24.3	22.9	22.5	23.6
Deposits at amortised cost	19.4	20.0	20.3	19.7	19.3	17.9	18.1	18.3
Risk weighted assets	23.2	24.4	23.9	24.8	24.1	22.5	22.5	23.9
Period end allocated tangible equity	3.2	3.3	3.3	3.4	3.3	3.1	3.1	3.3

Performance measures
Return on average allocated tangible equity	10.9%	9.2%	5.3%	(0.3)%	0.4%	9.3%	7.5%	12.6%
Average allocated tangible equity (£bn)	3.3	3.3	3.3	3.3	3.1	3.1	3.1	3.2
Cost: income ratio	50%	50%	46%	48%	50%	53%	52%	54%
Loan loss rate (bps)	411	438	610	636	582	411	515	337
Net interest margin	10.38%	10.43%	11.12%	10.88%	10.88%	10.66%	10.97%	10.64%

Head Office
	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Income statement information	£m	£m	£m	£m	£m	£m	£m	£m
Net interest income	215	62	186	167	87	(52)	151	(255)
Net fee, commission and other income	(27)	(226)	8	28	26	95	8	379
Total income	188	(164)	194	195	113	43	159	124
Operating costs	(197)	(195)	(211)	(717)	(210)	(221)	(204)	(229)
UK regulatory levies	—	—	—	(14)	—	—	—	(20)
Litigation and conduct	(7)	1	(44)	1	(16)	(32)	(1)	(9)
Total operating expenses	(204)	(194)	(255)	(730)	(226)	(253)	(205)	(258)
Other net income/(expenses)	21	4	12	(10)	7	2	(5)	7
Profit/(loss) before impairment	5	(354)	(49)	(545)	(106)	(208)	(51)	(127)
Credit impairment (charges)/releases	(19)	(18)	(40)	(29)	20	(13)	(38)	(33)
Loss before tax	(14)	(372)	(89)	(574)	(86)	(221)	(89)	(160)
Attributable loss	(16)	(349)	(59)	(447)	(71)	(170)	(86)	(75)

Balance sheet information	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Risk weighted assets	16.1	18.3	20.2	19.0	16.8	16.4	15.6	14.7
Period end allocated tangible equity	4.9	2.7	3.0	3.6	2.0	(0.5)	1.1	0.7

Performance measures
Average allocated tangible equity (£bn)	3.5	2.1	2.8	2.7	0.7	0.5	1.2	(1.6)

Performance Management

Margins and balances
	Nine months ended 30.09.24			Nine months ended 30.09.23
	Net interest income	Average customer assets	Net interest margin	Net interest income	Average customer assets	Net interest margin
	£m	£m	%	£m	£m	%
Barclays UK	4,812	199,938	3.21	4,856	206,338	3.15
Barclays UK Corporate Bank	882	22,552	5.22	913	23,157	5.27
Barclays Private Bank and Wealth Management	551	13,862	5.31	586	14,071	5.57
Barclays US Consumer Bank	1,981	24,864	10.64	1,918	23,661	10.84
Group excluding IB and Head Office	8,226	261,216	4.21	8,273	267,227	4.14
Barclays Investment Bank	747			1,111
Head Office	463			185
Total Barclays Group net interest income	9,436			9,570

The Group excluding IB and Head Office net interest margin (NIM) increased by 7bps from 4.14% in Q323 to 4.21% in Q324, due to continued structural hedge momentum and higher cards balances in USCB, partially offset by mortgage margin pressure in Barclays UK and adverse product dynamics in deposits.

Quarterly analysis
	Q324	Q224	Q124	Q423	Q323
Net interest income	£m	£m	£m	£m	£m
Barclays UK	1,666	1,597	1,549	1,575	1,578
Barclays UK Corporate Bank	309	296	277	247	304
Barclays Private Bank and Wealth Management	189	187	175	182	219
Barclays US Consumer Bank	647	646	688	686	662
Group excluding IB and Head Office	2,811	2,726	2,689	2,690	2,763

Average customer assets	£m	£m	£m	£m	£m
Barclays UK	198,616	199,529	201,669	203,646	205,693
Barclays UK Corporate Bank	23,049	22,474	22,257	23,354	23,225
Barclays Private Bank and Wealth Management	14,061	13,931	13,593	13,525	13,594
Barclays US Consumer Bank	24,798	24,899	24,880	25,012	24,128
Group excluding IB and Head Office	260,524	260,833	262,399	265,537	266,640

Net interest margin	%	%	%	%	%
Barclays UK	3.34	3.22	3.09	3.07	3.04
Barclays UK Corporate Bank	5.33	5.30	5.00	4.19	5.19
Barclays Private Bank and Wealth Management	5.35	5.40	5.17	5.33	6.40
Barclays US Consumer Bank	10.38	10.43	11.12	10.88	10.88
Group excluding IB and Head Office	4.29	4.20	4.12	4.02	4.11

Structural hedge

The Group employs a structural hedge programme designed to stabilise NIM on fixed rate non-maturity balance sheet items that are behaviourally stable. As interest rates move, such balances would otherwise drive material income volatility where there is a re-pricing mismatch with floating rate assets.

The structural hedge predominantly covers non-interest-bearing current accounts and the fixed portion of instant access savings accounts as well as equity, which are invested into either floating rate customer assets or balances at central banks, creating an exposure to changes in interest rates. The structural hedge is executed via a portfolio of receive fixed, pay variable interest rate swaps, with an amortising structure so that a small portion matures and is reinvested each month at prevailing market rates. The pay-floating leg of the interest rate swaps nets down a proportion of the receive-floating income from the customer assets, leaving a receive-fixed income stream from the structural hedge.

The purpose of the structural hedge is to smooth the Group NII through time. The floating leg of the swap will re-price immediately, whereas the fixed rate yield on the portfolio reprices gradually, as a portion of the swap portfolio matures and the roll is re-invested onto new market rates.

When interest rates are higher than our structural hedge yield, the pay floating rate will typically be higher than our average receive fixed rate. In this scenario, when viewed in isolation, the structural hedge will be a net drag to Group NII. When floating rates are lower than our structural hedge yield, the hedge in isolation will be a net benefit.

Since the receive-fixed swaps are booked for a specific term, an element of NII is ‘locked in’. The income stabilising feature of the structural hedge provides greater net interest income certainty through the interest rate cycle.

The structural hedge is one component of a larger portfolio of interest rate risk management activities that includes non-structural hedging (e.g. pay fixed and receive variable flows for asset hedging), and other offsetting flows. The net risk of these positions is executed externally through interest rate swaps and managed for accounting risk (i.e. income volatility arising from the accounting mismatch of swaps at fair value through profit and loss and underlying hedged items at amortised cost) within the cash flow hedge reserve. Overall the Group has external derivatives designated as cash flow hedges that hedge interest rate risk with a notional £98bn (December 2023: £128bn) which reflects the structural hedge notional of £234bn (December 2023: £246bn) netted with non-structural hedging positions of £136bn (December 2023: £118bn). The majority of these interest rate swaps are cleared with Central Clearing Counterparties and margined daily with an average duration of between 2.5 years and 3 years.

Gross structural hedge contributions were £3,430m (Q323: £2,609m). Gross structural hedge contributions represent the absolute interest income earned on the fixed legs of the swaps in the structural hedge as the floating leg is offset by the base rate funding of the deposits.

Credit Risk

Loans and advances at amortised cost by geography

Total loans and advances at amortised cost in the credit risk performance section includes loans and advances at amortised cost to banks and loans and advances at amortised cost to customers.

The table below presents a product and geographical breakdown by stages of loans and advances at amortised cost and the impairment allowance. Also included are stage allocation of debt securities and off-balance sheet loan commitments and financial guarantee contracts by gross exposure, impairment allowance and coverage ratio.

Impairment allowance under IFRS 9 considers both the drawn and the undrawn counterparty exposure. For retail portfolios, the total impairment allowance is allocated to gross loans and advances to the extent allowance does not exceed the drawn exposure and any excess is reported on the liabilities side of the balance sheet as a provision. For corporate portfolios, impairment allowance on undrawn exposure is reported on the liability side of the balance sheet as a provision.

	Gross exposure				Impairment allowance
	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
As at 30.09.24	£m	£m	£m	£m	£m	£m	£m	£m
Retail mortgages	145,587	18,026	1,692	165,305	31	60	105	196
Retail credit cards	9,080	1,993	186	11,259	107	429	95	631
Retail other	6,605	1,202	221	8,028	56	104	141	301
Corporate loans1	52,404	7,156	1,789	61,349	155	168	379	702
Total UK	213,676	28,377	3,888	245,941	349	761	720	1,830
Retail mortgages	1,701	29	494	2,224	2	—	278	280
Retail credit cards	20,427	3,448	1,652	25,527	358	960	1,338	2,656
Retail other	1,624	148	130	1,902	2	1	26	29
Corporate loans	59,315	3,895	982	64,192	78	141	225	444
Total Rest of the World	83,067	7,520	3,258	93,845	440	1,102	1,867	3,409
Total loans and advances at amortised cost	296,743	35,897	7,146	339,786	789	1,863	2,587	5,239
Debt securities at amortised cost	61,342	3,316	—	64,658	10	11	—	21
Total loans and advances at amortised cost including debt securities	358,085	39,213	7,146	404,444	799	1,874	2,587	5,260
Off-balance sheet loan commitments and financial guarantee contracts2	378,879	17,441	1,046	397,366	171	231	28	430
Total3,4	736,964	56,654	8,192	801,810	970	2,105	2,615	5,690

	Net exposure				Coverage ratio
	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
As at 30.09.24	£m	£m	£m	£m	%	%	%	%
Retail mortgages	145,556	17,966	1,587	165,109	—	0.3	6.2	0.1
Retail credit cards	8,973	1,564	91	10,628	1.2	21.5	51.1	5.6
Retail other	6,549	1,098	80	7,727	0.8	8.7	63.8	3.7
Corporate loans1	52,249	6,988	1,410	60,647	0.3	2.3	21.2	1.1
Total UK	213,327	27,616	3,168	244,111	0.2	2.7	18.5	0.7
Retail mortgages	1,699	29	216	1,944	0.1	—	56.3	12.6
Retail credit cards	20,069	2,488	314	22,871	1.8	27.8	81.0	10.4
Retail other	1,622	147	104	1,873	0.1	0.7	20.0	1.5
Corporate loans	59,237	3,754	757	63,748	0.1	3.6	22.9	0.7
Total Rest of the World	82,627	6,418	1,391	90,436	0.5	14.7	57.3	3.6
Total loans and advances at amortised cost	295,954	34,034	4,559	334,547	0.3	5.2	36.2	1.5
Debt securities at amortised cost	61,332	3,305	—	64,637	—	0.3	—	—
Total loans and advances at amortised cost including debt securities	357,286	37,339	4,559	399,184	0.2	4.8	36.2	1.3
Off-balance sheet loan commitments and financial guarantee contracts2	378,708	17,210	1,018	396,936	—	1.3	2.7	0.1
Total3,4	735,994	54,549	5,577	796,120	0.1	3.7	31.9	0.7

1	Includes Business Banking, which has a gross exposure of £13.6bn and an impairment allowance of £365m. This comprises £80m impairment allowance on £9.5bn Stage 1 exposure, £56m on £3.0bn Stage 2 exposure and £229m on £1.1bn Stage 3 exposure. Excluding this, total coverage for corporate loans in UK is 0.7%.
2	Excludes loan commitments and financial guarantees of £20.7bn carried at fair value and includes exposures relating to financial assets classified as assets held for sale.
3	Other financial assets subject to impairment excluded in the table above include cash collateral and settlement balances, financial assets at fair value through other comprehensive income and other assets. These have a total gross exposure of £224.0bn and an impairment allowance of £139m. This comprises £13m impairment allowance on £222.8bn Stage 1 exposure, £3m on £1.1bn Stage 2 exposure and £123m on £129m Stage 3 exposure.
4	The annualised loan loss rate is 42bps after applying the total impairment charge of £1,271m.

	Gross exposure				Impairment allowance
	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
As at 31.12.23	£m	£m	£m	£m	£m	£m	£m	£m
Retail mortgages	146,001	19,123	1,812	166,936	43	77	112	232
Retail credit cards	8,094	2,128	198	10,420	111	492	107	710
Retail other	6,832	1,252	264	8,348	56	117	144	317
Corporate loans1	54,257	8,673	1,692	64,622	191	214	346	751
Total UK	215,184	31,176	3,966	250,326	401	900	709	2,010
Retail mortgages	4,201	346	612	5,159	7	28	316	351
Retail credit cards	22,315	3,450	1,522	27,287	412	1,138	1,226	2,776
Retail other	1,637	91	229	1,957	3	1	32	36
Corporate loans	58,248	4,629	862	63,739	96	200	252	548
Total Rest of the World	86,401	8,516	3,225	98,142	518	1,367	1,826	3,711
Total loans and advances at amortised cost	301,585	39,692	7,191	348,468	919	2,267	2,535	5,721
Debt securities	52,869	3,907	—	56,776	11	16	—	27
Total loans and advances at amortised cost including debt securities	354,454	43,599	7,191	405,244	930	2,283	2,535	5,748
Off-balance sheet loan commitments and financial guarantee contracts2	374,063	24,208	1,037	399,308	173	287	44	504
Total3,4	728,517	67,807	8,228	804,552	1,103	2,570	2,579	6,252


	Net exposure				Coverage ratio
	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
As at 31.12.23	£m	£m	£m	£m	%	%	%	%
Retail mortgages	145,958	19,046	1,700	166,704	—	0.4	6.2	0.1
Retail credit cards	7,983	1,636	91	9,710	1.4	23.1	54.0	6.8
Retail other	6,776	1,135	120	8,031	0.8	9.3	54.5	3.8
Corporate loans1	54,066	8,459	1,346	63,871	0.4	2.5	20.4	1.2
Total UK	214,783	30,276	3,257	248,316	0.2	2.9	17.9	0.8
Retail mortgages	4,194	318	296	4,808	0.2	8.1	51.6	6.8
Retail credit cards	21,903	2,312	296	24,511	1.8	33.0	80.6	10.2
Retail other	1,634	90	197	1,921	0.2	1.1	14.0	1.8
Corporate loans	58,152	4,429	610	63,191	0.2	4.3	29.2	0.9
Total Rest of the World	85,883	7,149	1,399	94,431	0.6	16.1	56.6	3.8
Total loans and advances at amortised cost	300,666	37,425	4,656	342,747	0.3	5.7	35.3	1.6
Debt securities	52,858	3,891	—	56,749	—	0.4	—	—
Total loans and advances at amortised cost including debt securities	353,524	41,316	4,656	399,496	0.3	5.2	35.3	1.4
Off-balance sheet loan commitments and financial guarantee contracts2	373,890	23,921	993	398,804	—	1.2	4.2	0.1
Total3,4	727,414	65,237	5,649	798,300	0.2	3.8	31.3	0.8

1	Includes Business Banking, which has a gross exposure of £15.2bn and an impairment allowance of £431m. This comprises £99m impairment allowance on £9.8bn Stage 1 exposure, £81m on £4.1bn Stage 2 exposure and £251m on £1.3bn Stage 3 exposure. Excluding this, total coverage for corporate loans in UK is 0.6%.
2	Excludes loan commitments and financial guarantees of £16.5bn carried at fair value and includes exposures relating to financial assets classified as assets held for sale.
3	Other financial assets subject to impairment excluded in the table above include cash collateral and settlement balances, financial assets at fair value through other comprehensive income and other assets. These have a total gross exposure of £183.6bn and impairment allowance of £151m. This comprises £16m impairment allowance on £182.8bn Stage 1 exposure, £2m on £0.6bn Stage 2 exposure and £133m on £140m Stage 3 exposure.
4	The annualised loan loss rate is 46bps after applying the total impairment charge of £1,881m

Assets held for sale

During 2023, gross loans and advances and related impairment allowances for the German consumer finance business portfolio were reclassified from loans and advances to customers to assets held for sale in the balance sheet.

Loans and advances to customers classified as assets held for sale
	Stage 1			Stage 2			Stage 3			Total
	Gross	ECL	Coverage	Gross	ECL	Coverage	Gross	ECL	Coverage	Gross	ECL	Coverage
As at 30.09.24	£m	£m	%	£m	£m	%	£m	£m	%	£m	£m	%
Retail credit cards	1,779	18	1.0	412	37	9.0	91	66	72.5	2,282	121	5.3
Retail other	1,290	18	1.4	254	36	14.2	74	50	67.6	1,618	104	6.4
Total Rest of the World	3,069	36	1.2	666	73	11.0	165	116	70.3	3,900	225	5.8

As at 31.12.23
Retail credit cards	1,621	15	0.9	445	41	9.2	92	68	73.9	2,158	124	5.7
Retail other	1,561	20	1.3	288	32	11.1	84	60	71.4	1,933	112	5.8
Total Rest of the World	3,182	35	1.1	733	73	10.0	176	128	72.7	4,091	236	5.8

Loans and advances at amortised cost by product

The table below presents a product breakdown by stages of loans and advances at amortised cost. Also included is a breakdown of Stage 2 past due balances.

		Stage 2
As at 30.09.24	Stage 1	Not past due	<=30 days past due	>30 days past due	Total	Stage 3	Total
Gross exposure	£m	£m	£m	£m	£m	£m	£m
Retail mortgages	147,288	15,123	2,071	861	18,055	2,186	167,529
Retail credit cards	29,507	4,768	370	303	5,441	1,838	36,786
Retail other	8,229	1,006	165	179	1,350	351	9,930
Corporate loans	111,719	10,855	64	132	11,051	2,771	125,541
Total	296,743	31,752	2,670	1,475	35,897	7,146	339,786

Impairment allowance
Retail mortgages	33	30	12	18	60	383	476
Retail credit cards	465	1,060	150	179	1,389	1,433	3,287
Retail other	58	70	16	19	105	167	330
Corporate loans	233	295	5	9	309	604	1,146
Total	789	1,455	183	225	1,863	2,587	5,239

Net exposure
Retail mortgages	147,255	15,093	2,059	843	17,995	1,803	167,053
Retail credit cards	29,042	3,708	220	124	4,052	405	33,499
Retail other	8,171	936	149	160	1,245	184	9,600
Corporate loans	111,486	10,560	59	123	10,742	2,167	124,395
Total	295,954	30,297	2,487	1,250	34,034	4,559	334,547

Coverage ratio	%	%	%	%	%	%	%
Retail mortgages	—	0.2	0.6	2.1	0.3	17.5	0.3
Retail credit cards	1.6	22.2	40.5	59.1	25.5	78.0	8.9
Retail other	0.7	7.0	9.7	10.6	7.8	47.6	3.3
Corporate loans	0.2	2.7	7.8	6.8	2.8	21.8	0.9
Total	0.3	4.6	6.9	15.3	5.2	36.2	1.5

As at 31.12.23
Gross exposure	£m	£m	£m	£m	£m	£m	£m
Retail mortgages	150,202	16,834	1,971	664	19,469	2,424	172,095
Retail credit cards	30,409	4,858	392	328	5,578	1,720	37,707
Retail other	8,469	1,094	126	123	1,343	493	10,305
Corporate loans	112,505	12,960	179	163	13,302	2,554	128,361
Total	301,585	35,746	2,668	1,278	39,692	7,191	348,468

Impairment allowance
Retail mortgages	50	73	20	12	105	428	583
Retail credit cards	523	1,257	166	207	1,630	1,333	3,486
Retail other	59	82	18	18	118	176	353
Corporate loans	287	399	8	7	414	598	1,299
Total	919	1,811	212	244	2,267	2,535	5,721

Net exposure
Retail mortgages	150,152	16,761	1,951	652	19,364	1,996	171,512
Retail credit cards	29,886	3,601	226	121	3,948	387	34,221
Retail other	8,410	1,012	108	105	1,225	317	9,952
Corporate loans	112,218	12,561	171	156	12,888	1,956	127,062
Total	300,666	33,935	2,456	1,034	37,425	4,656	342,747

Coverage ratio	%	%	%	%	%	%	%
Retail mortgages	—	0.4	1.0	1.8	0.5	17.7	0.3
Retail credit cards	1.7	25.9	42.3	63.1	29.2	77.5	9.2
Retail other	0.7	7.5	14.3	14.6	8.8	35.7	3.4
Corporate loans	0.3	3.1	4.5	4.3	3.1	23.4	1.0
Total	0.3	5.1	7.9	19.1	5.7	35.3	1.6

Measurement uncertainty

Scenarios used to calculate the Group’s expected credit losses charge were refreshed in Q324 with the Baseline scenario reflecting the latest consensus macroeconomic forecasts available at the time of the scenario refresh. In the Baseline scenario, the UK economy is gradually recovering and is further stimulated as restrictive monetary policy continues loosening. US GDP growth falls to 1.8% in 2025 but then stabilises at 2.0%. Labour markets remain broadly resilient. The UK unemployment rate peaks at 4.6% during 2025 before stabilising at 4.4%. US unemployment increases slightly to 4.2% at end of 2024 where it remains for the rest of the projection period. With the significant decline in inflationary pressures, major central banks continue to cut rates throughout 2025. UK house prices keep falling in 2024 before stabilising and resuming the upward trend from 2025. The housing market in the US remains more resilient, with house prices continuing to grow.

In the Downside 2 scenario, inflationary pressures are assumed to intensify again, mainly driven by strong wage growth. Central banks raise rates further, with the UK bank rate and the US federal funds rate each reaching 8.5% in Q225. Major economies experience a rapid tightening of financial conditions alongside a significant increase in market volatility resulting in a sharp repricing of assets and higher credit losses. Central banks are forced to cut interest rates aggressively. Falling demand reduces UK and US GDP and headline inflation drops significantly following a temporary surge. In the Upside 2 scenario, a rise in labour force participation and higher productivity contribute to accelerated economic growth without creating new inflationary pressures. With inflation continuing to fall, central banks lower interest rates, further stimulating aggregate demand, leading to reduced unemployment and healthy GDP growth.

The methodology for estimating scenario probability weights involves simulating a range of future paths for UK and US GDP using historical data with the five scenarios mapped against the distribution of these future paths. The median is centred around the Baseline with scenarios further from the Baseline attracting a lower weighting before the five weights are normalised to total 100%. The increases in the Upside scenario weightings were driven by the improvement in GDP in the Baseline scenario, bringing the Baseline scenario closer to the Upside scenarios. For further details see page 33.

Economic uncertainty adjustments of £102m (30 June 2024: £151m) were applied as overlays to the modelled ECL output. The decrease reflected a release of affordability linked adjustments in the UK unsecured lending portfolio, supported by a resilient credit performance from UK customers, as evidenced by continued low and stable delinquencies.

The following tables show the key macroeconomic variables used in the five scenarios (5-year annual paths) and the probability weights applied to each scenario.

Macroeconomic variables used in the calculation of ECL
As at 30.09.24	2024	2025	2026	2027	2028
Baseline	%	%	%	%	%
UK GDP1	0.9	1.3	1.5	1.7	1.6
UK unemployment2	4.4	4.5	4.4	4.4	4.4
UK HPI3	0.7	2.6	2.6	4.6	3.2
UK bank rate6	5.0	3.9	3.4	3.3	3.3
US GDP1	2.3	1.8	2.0	2.0	2.0
US unemployment4	4.0	4.2	4.2	4.2	4.2
US HPI5	3.2	3.0	3.1	3.1	3.1
US federal funds rate6	5.0	3.4	3.1	3.0	3.3

Downside 2
UK GDP1	0.8	(2.3)	(1.0)	2.3	1.4
UK unemployment2	4.4	5.6	7.4	5.6	4.8
UK HPI3	(0.4)	(18.1)	(6.7)	16.6	8.9
UK bank rate6	5.5	5.5	1.0	1.0	1.0
US GDP1	2.2	(2.1)	(0.4)	3.1	1.7
US unemployment4	4.1	5.6	6.8	5.4	5.0
US HPI5	2.3	(9.4)	(1.7)	7.6	5.6
US federal funds rate6	5.5	5.4	1.5	1.5	1.5

Downside 1
UK GDP1	0.9	(0.5)	0.3	2.0	1.5
UK unemployment2	4.4	5.1	5.9	5.0	4.6
UK HPI3	0.1	(8.1)	(2.1)	10.5	6.0
UK bank rate6	5.3	4.7	2.2	2.1	2.1
US GDP1	2.2	(0.2)	0.8	2.6	1.9
US unemployment4	4.1	4.9	5.5	4.8	4.6
US HPI5	2.7	(3.3)	0.7	5.3	4.4
US federal funds rate6	5.2	4.4	2.3	2.3	2.4

Upside 2
UK GDP1	1.1	3.5	3.4	2.8	2.4
UK unemployment2	4.4	3.7	3.5	3.5	3.5
UK HPI3	2.3	14.0	6.9	4.0	4.3
UK bank rate6	5.0	3.3	2.3	2.3	2.3
US GDP1	2.4	2.9	3.0	2.8	2.8
US unemployment4	4.0	3.6	3.5	3.5	3.5
US HPI5	4.3	4.5	4.9	4.5	4.6
US federal funds rate6	5.0	2.9	2.3	2.3	2.3

Upside 1
UK GDP1	1.0	2.4	2.5	2.2	2.0
UK unemployment2	4.4	4.1	4.0	4.0	4.0
UK HPI3	1.5	8.2	4.8	4.3	3.7
UK bank rate6	5.0	3.6	2.9	2.8	2.8
US GDP1	2.3	2.3	2.5	2.4	2.4
US unemployment4	4.0	3.9	3.9	3.9	3.9
US HPI5	3.8	3.8	4.0	3.8	3.8
US federal funds rate6	5.0	3.2	2.7	2.6	2.8

1	Average Real GDP seasonally adjusted change in year.
2	Average UK unemployment rate 16-year+.
3	Change in year end UK HPI = Halifax All Houses, All Buyers index, relative to prior year end.
4	Average US civilian unemployment rate 16-year+.
5	Change in year end US HPI = FHFA House Price Index, relative to prior year end.
6	Average rate

As at 30.06.24	2024	2025	2026	2027	2028
Baseline	%	%	%	%	%
UK GDP1	0.7	1.2	1.6	1.7	1.6
UK unemployment2	4.3	4.4	4.4	4.4	4.4
UK HPI3	(1.2)	1.6	3.0	4.4	3.2
UK bank rate6	5.0	4.3	3.8	3.6	3.5
US GDP1	2.3	1.7	2.0	2.0	2.0
US unemployment4	4.0	4.1	4.1	4.1	4.1
US HPI5	3.3	3.0	3.3	3.3	3.3
US federal funds rate6	5.3	4.4	4.0	3.8	3.8

Downside 2
UK GDP1	0.2	(3.2)	0.5	2.1	1.3
UK unemployment2	4.4	6.4	6.9	5.3	4.7
UK HPI3	(3.6)	(23.3)	2.8	15.6	7.7
UK bank rate6	5.9	4.0	1.0	1.0	1.0
US GDP1	1.8	(2.9)	1.2	2.8	1.6
US unemployment4	4.2	6.3	6.4	5.3	4.9
US HPI5	0.9	(10.7)	2.0	8.0	5.3
US federal funds rate6	5.9	4.1	1.5	1.5	1.5

Downside 1
UK GDP1	0.4	(1.0)	1.0	1.9	1.5
UK unemployment2	4.3	5.4	5.6	4.9	4.6
UK HPI3	(2.4)	(11.5)	2.9	9.9	5.5
UK bank rate6	5.5	4.1	2.4	2.3	2.3
US GDP1	2.0	(0.6)	1.6	2.4	1.8
US unemployment4	4.1	5.2	5.3	4.7	4.5
US HPI5	2.1	(4.0)	2.7	5.6	4.3
US federal funds rate6	5.6	4.3	2.8	2.6	2.6

Upside 2
UK GDP1	1.1	3.9	3.2	2.6	2.3
UK unemployment2	4.1	3.4	3.4	3.3	3.2
UK HPI3	4.9	14.2	6.8	2.7	3.8
UK bank rate6	4.9	3.4	2.6	2.6	2.5
US GDP1	2.6	3.2	2.9	2.8	2.8
US unemployment4	3.7	3.5	3.4	3.4	3.4
US HPI5	5.3	3.9	5.0	4.6	4.6
US federal funds rate6	5.2	3.7	3.1	2.8	2.8

Upside 1
UK GDP1	0.9	2.5	2.4	2.2	2.0
UK unemployment2	4.2	3.9	3.9	3.9	3.8
UK HPI3	1.8	7.8	4.9	3.6	3.5
UK bank rate6	5.0	3.8	3.2	3.1	3.0
US GDP1	2.4	2.5	2.4	2.4	2.4
US unemployment4	3.8	3.8	3.8	3.8	3.8
US HPI5	4.3	3.5	4.2	3.9	3.9
US federal funds rate6	5.3	4.1	3.5	3.3	3.3

1	Average Real GDP seasonally adjusted change in year.
2	Average UK unemployment rate 16-year+.
3	Change in year end UK HPI = Halifax All Houses, All Buyers index, relative to prior year end.
4	Average US civilian unemployment rate 16-year+.
5	Change in year end US HPI = FHFA House Price Index, relative to prior year end.
6	Average rate.

As at 31.12.23	2023	2024	2025	2026	2027
Baseline	%	%	%	%	%
UK GDP1	0.5	0.3	1.2	1.6	1.6
UK unemployment2	4.2	4.7	4.7	4.8	5.0
UK HPI3	(3.3)	(5.1)	0.7	3.1	5.3
UK bank rate6	4.7	4.9	4.1	3.8	3.5
US GDP1	2.4	1.3	1.7	1.9	1.9
US unemployment4	3.7	4.3	4.3	4.3	4.3
US HPI5	5.4	3.4	3.0	3.3	3.3
US federal funds rate6	5.1	5.0	3.9	3.8	3.8

Downside 2
UK GDP1	0.5	(1.5)	(2.6)	2.4	1.6
UK unemployment2	4.2	5.2	7.9	6.3	5.5
UK HPI3	(3.3)	(19.3)	(16.8)	14.5	12.4
UK bank rate6	4.7	6.6	1.3	1.0	1.0
US GDP1	2.4	(0.6)	(2.0)	3.1	2.0
US unemployment4	3.7	5.2	7.2	5.9	5.2
US HPI5	5.4	(6.5)	(5.7)	7.2	6.4
US federal funds rate6	5.1	6.3	1.8	1.5	1.5

Downside 1
UK GDP1	0.5	(0.6)	(0.7)	2.0	1.6
UK unemployment2	4.2	4.9	6.3	5.6	5.2
UK HPI3	(3.3)	(12.4)	(8.3)	8.7	8.8
UK bank rate6	4.7	5.8	2.7	2.5	2.3
US GDP1	2.4	0.3	(0.2)	2.5	1.9
US unemployment4	3.7	4.7	5.8	5.1	4.8
US HPI5	5.4	(1.7)	(1.4)	5.2	4.8
US federal funds rate6	5.1	5.7	2.9	2.8	2.8

Upside 2
UK GDP1	0.5	2.4	3.7	2.9	2.4
UK unemployment2	4.2	3.9	3.5	3.6	3.6
UK HPI3	(3.3)	7.8	7.6	4.5	5.6
UK bank rate6	4.7	4.3	2.7	2.5	2.5
US GDP1	2.4	2.8	3.1	2.8	2.8
US unemployment4	3.7	3.5	3.6	3.6	3.6
US HPI5	5.4	6.1	4.3	4.5	4.6
US federal funds rate6	5.1	4.3	2.9	2.8	2.8

Upside 1
UK GDP1	0.5	1.4	2.5	2.3	2.0
UK unemployment2	4.2	4.3	4.1	4.2	4.3
UK HPI3	(3.3)	1.2	4.1	3.8	5.4
UK bank rate6	4.7	4.6	3.4	3.3	3.0
US GDP1	2.4	2.0	2.4	2.4	2.4
US unemployment4	3.7	3.9	3.9	4.0	4.0
US HPI5	5.4	4.7	3.7	3.9	3.9
US federal funds rate6	5.1	4.7	3.5	3.3	3.3

1	Average Real GDP seasonally adjusted change in year.
2	Average UK unemployment rate 16-year+.
3	Change in year end UK HPI = Halifax All Houses, All Buyers index, relative to prior year end.
4	Average US civilian unemployment rate 16-year+.
5	Change in year end US HPI = FHFA House Price Index, relative to prior year end.
6	Average rate.

Scenario probability weighting	Upside 2	Upside 1	Baseline	Downside 1	Downside 2
	%	%	%	%	%
As at 30.09.24
Scenario probability weighting	16.8	26.4	32.7	15.9	8.2
As at 30.06.24
Scenario probability weighting	16.5	26.1	32.6	16.2	8.6
As at 31.12.23
Scenario probability weighting	13.8	24.7	32.4	18.3	10.8

Treasury and Capital Risk

Regulatory minimum requirements

Capital

The Group’s Overall Capital Requirement for CET1 remained at 12.0% comprising a 4.5% Pillar 1 minimum, a 2.5% Capital Conservation Buffer (CCB), a 1.5% Global Systemically Important Institution (G-SII) buffer, a 2.6% Pillar 2A requirement and a 1.0% Countercyclical Capital Buffer (CCyB).

The Group’s CCyB is based on the buffer rate applicable for each jurisdiction in which the Group has exposures. The buffer rates set by other national authorities for non-UK exposures are not currently material.

The Group’s Pillar 2A requirement as per the PRA's Individual Capital Requirement is 4.6% of which at least 56.25% needs to be met with CET1 capital, equating to 2.6% of RWAs. The Pillar 2A requirement, based on a point in time assessment, has been set as a proportion of RWAs and is subject to at least annual review.

The Group’s CET1 target ratio of 13-14% takes into account headroom above requirements which includes a confidential institution-specific PRA buffer. The Group remains above its minimum capital regulatory requirements including the PRA buffer.

Leverage

The Group is subject to a UK leverage ratio requirement of 4.1%. This comprises the 3.25% minimum requirement, a G-SII additional leverage ratio buffer (G-SII ALRB) of 0.53% and a countercyclical leverage ratio buffer (CCLB) of 0.3%. The Group is also required to disclose an average UK leverage ratio which is based on capital on the last day of each month in the quarter and an exposure measure for each day in the quarter.

MREL

The Group is required to meet the higher of: (i) two times the sum of 8% Pillar 1 and 4.6% Pillar 2A equating to 25.2% of RWAs; and (ii) 6.75% of leverage exposures. In addition, the higher of regulatory capital and leverage buffers apply. CET1 capital cannot be counted towards both MREL and the buffers, meaning that the buffers, including the above mentioned confidential institution-specific PRA buffer, will effectively be applied above MREL requirements.

Significant regulatory updates in the period

Following its 12 December 2023 publication of ‘Implementation of the Basel 3.1 standards near-final part 1’ (PS12/23), covering Credit Valuation Adjustments, Counterparty Credit Risk, Market Risk and Operational Risk, on 12 September 2024 the PRA published its near-final policy statement ‘Implementation of the Basel 3.1 standards near-final part 2’ (PS9/24) covering the remaining aspects of the Basel 3.1 standards. This covered Credit Risk, Credit Risk Mitigation, the Output Floor, and Reporting and Disclosure requirements. Additionally, the policy statement confirmed that the implementation date for Basel 3.1 within the United Kingdom will be deferred by 6 months to 1 January 2026.

Capital ratios1,2	As at 30.09.24	As at 30.06.24	As at 31.12.23
CET1	13.8%	13.6%	13.8%
T1	17.3%	17.3%	17.7%
Total regulatory capital	19.9%	19.9%	20.1%
MREL ratio as a percentage of total RWAs	34.9%	33.5%	33.6%

Own funds and eligible liabilities	£m	£m	£m
Total equity excluding non-controlling interests per the balance sheet	70,972	71,173	71,204
Less: other equity instruments (recognised as AT1 capital)	(11,739)	(12,959)	(13,259)
Adjustment to retained earnings for foreseeable ordinary share dividends	(493)	(645)	(795)
Adjustment to retained earnings for foreseeable repurchase of shares	(385)	(222)	—
Adjustment to retained earnings for foreseeable other equity coupons	(40)	(41)	(43)

Other regulatory adjustments and deductions
Additional value adjustments (PVA)	(1,850)	(1,887)	(1,901)
Goodwill and intangible assets	(8,111)	(7,835)	(7,790)
Deferred tax assets that rely on future profitability excluding temporary differences	(1,482)	(1,630)	(1,630)
Fair value reserves related to gains or losses on cash flow hedges	2,298	3,799	3,707
Excess of expected losses over impairment	(440)	(324)	(296)
Gains or losses on liabilities at fair value resulting from own credit	656	622	136
Defined benefit pension fund assets	(2,534)	(2,564)	(2,654)
Direct and indirect holdings by an institution of own CET1 instruments	(5)	(5)	(20)
Adjustment under IFRS 9 transitional arrangements	83	123	288
Other regulatory adjustments	100	90	357
CET1 capital	47,030	47,695	47,304

AT1 capital
Capital instruments and related share premium accounts	11,755	13,000	13,263
Other regulatory adjustments and deductions	(16)	(41)	(60)
AT1 capital	11,739	12,959	13,203

T1 capital	58,769	60,654	60,507

T2 capital
Capital instruments and related share premium accounts	8,587	8,836	7,966
Qualifying T2 capital (including minority interests) issued by subsidiaries	379	385	569
Credit risk adjustments (excess of impairment over expected losses)	—	39	—
Other regulatory adjustments and deductions	(19)	(43)	(160)
Total regulatory capital	67,716	69,871	68,882

Less : Ineligible T2 capital (including minority interests) issued by subsidiaries	(379)	(385)	(569)
Eligible liabilities	51,330	48,299	46,995

Total own funds and eligible liabilities3	118,667	117,785	115,308

Total RWAs	340,401	351,433	342,717

1	CET1, T1 and T2 capital, and RWAs are calculated applying the transitional arrangements in accordance with UK CRR. This includes IFRS 9 transitional arrangements and the grandfathering of certain capital instruments until 28 June 2025.
2	The fully loaded CET1 ratio, as is relevant for assessing against the conversion trigger in Barclays PLC AT1 securities, was 13.8%, with £46.9bn of CET1 capital and £340.4bn of RWAs calculated without applying the transitional arrangements in accordance with UK CRR.
3	As at 30 September 2024, the Group's MREL requirement, excluding the PRA buffer, was to hold £102.6bn of own funds and eligible liabilities equating to 30.1% of RWAs. The Group remains above its MREL regulatory requirement including the PRA buffer.

Movement in CET1 capital	Three months ended 30.09.24	Nine months ended 30.09.24
	£m	£m
Opening CET1 capital	47,695	47,304

Profit for the period attributable to equity holders	1,817	5,114
Own credit relating to derivative liabilities	3	27
Ordinary share dividends paid and foreseen	(273)	(918)
Purchased and foreseeable share repurchase	(750)	(1,750)
Other equity coupons paid and foreseen	(252)	(760)
Increase in retained regulatory capital generated from earnings	545	1,713

Net impact of share schemes	164	94
Fair value through other comprehensive income reserve	119	(150)
Currency translation reserve	(1,244)	(1,328)
Other reserves	(8)	(111)
Decrease in other qualifying reserves	(969)	(1,495)

Pension remeasurements within reserves	(30)	(127)
Defined benefit pension fund asset deduction	30	120
Net impact of pensions	—	(7)

Additional value adjustments (PVA)	37	51
Goodwill and intangible assets	(276)	(321)
Deferred tax assets that rely on future profitability excluding those arising from temporary differences	148	148
Excess of expected loss over impairment	(116)	(144)
Direct and indirect holdings by an institution of own CET1 instruments	—	15
Adjustment under IFRS 9 transitional arrangements	(40)	(205)
Other regulatory adjustments	6	(29)
Decrease in regulatory capital due to adjustments and deductions	(241)	(485)

Closing CET1 capital	47,030	47,030

CET1 capital decreased £0.3bn to £47.0bn (December 2023: £47.3bn). Significant movements in the period were:

●

£5.1bn of capital generated from profit partially offset by distributions of £3.4bn comprising:

£1.8bn of share buybacks announced with FY23 and H124 results

£0.9bn accrual towards the FY24 dividend

£0.8bn of equity coupons paid and foreseen

●

£1.5bn decrease in other qualifying reserves including a reduction in the currency translation reserve due to the strengthening of GBP against USD

RWAs by risk type and business
	Credit risk		Counterparty credit risk				Market Risk		Operational risk	Total RWAs
					Settlement
	STD	IRB	STD	IRB	Risk	CVA	STD	IMA
As at 30.09.24	£m	£m	£m	£m	£m	£m	£m	£m	£m	£m
Barclays UK	9,606	55,792	100	13	—	52	199	—	11,715	77,477
Barclays UK Corporate Bank	3,790	14,275	93	389	—	10	5	507	3,024	22,093
Barclays Private Bank & Wealth Management	4,846	482	80	24	—	11	41	305	1,546	7,335
Barclays Investment Bank	38,757	47,864	20,458	23,709	118	2,466	13,087	23,559	24,179	194,197
Barclays US Consumer Bank	18,316	839	—	—	—	—	—	—	4,051	23,206
Head Office	6,488	8,346	1	15	—	3	1	196	1,043	16,093
Barclays Group	81,803	127,598	20,732	24,150	118	2,542	13,333	24,567	45,558	340,401
As at 30.06.24
Barclays UK	9,349	55,055	101	12	—	72	169	—	11,715	76,473
Barclays UK Corporate Bank	4,033	13,881	91	327	—	12	3	487	3,024	21,858
Barclays Private Bank & Wealth Management	4,612	467	85	33	—	13	—	293	1,546	7,049
Barclays Investment Bank	41,151	50,854	20,426	23,636	159	2,897	14,173	25,811	24,179	203,286
Barclays US Consumer Bank	19,462	917	—	—	—	—	—	—	4,051	24,430
Head Office	6,470	10,609	1	21	—	4	1	188	1,043	18,337
Barclays Group	85,077	131,783	20,704	24,029	159	2,998	14,346	26,779	45,558	351,433
As at 31.12.23
Barclays UK	10,472	50,761	178	—	—	94	274	—	11,715	73,494
Barclays UK Corporate Bank	3,458	13,415	262	167	—	14	2	541	3,024	20,883
Barclays Private Bank & Wealth Management	4,611	455	182	27	—	30	1	322	1,546	7,174
Barclays Investment Bank	37,749	52,190	18,512	21,873	159	3,248	14,623	24,749	24,179	197,282
Barclays US Consumer Bank	19,824	966	—	—	—	—	—	—	4,051	24,841
Head Office	6,772	10,951	1	21	—	6	1	248	1,043	19,043
Barclays Group	82,886	128,738	19,135	22,088	159	3,392	14,901	25,860	45,558	342,717

Movement analysis of RWAs	Credit risk	Counterparty credit risk	Market risk	Operational risk	Total RWAs
	£m	£m	£m	£m	£m
Opening RWAs (as at 31.12.23)	211,624	44,774	40,761	45,558	342,717
Book size	(69)	4,115	(2,123)	—	1,923
Acquisitions and disposals	(856)	—	—	—	(856)
Book quality	(1,054)	(245)	—	—	(1,299)
Model updates	196	680	—	—	876
Methodology and policy	4,155	398	—	—	4,553
Foreign exchange movements1	(4,595)	(2,180)	(738)	—	(7,513)
Total RWA movements	(2,223)	2,768	(2,861)	—	(2,316)
Closing RWAs (as at 30.09.24)	209,401	47,542	37,900	45,558	340,401

1	Foreign exchange movements does not include the impact of foreign exchange for modelled market risk or operational risk.

Overall RWAs decreased £2.3bn to £340.4bn (December 2023: £342.7bn).

Credit risk RWAs decreased £2.2bn:

●

A £0.9bn decrease in acquisitions and disposals due to the sale of the performing Italian mortgage portfolio

●

A £1.1bn decrease in book quality RWAs mainly driven by changes in risk parameters primarily within IB

●

A £4.2bn increase in methodology and policy including regulatory model changes in Barclays UK

●

A £4.6bn decrease as a result of foreign exchange movements primarily due to the strengthening of GBP against USD

Counterparty Credit risk RWAs increased £2.8bn:

●

A £4.1bn increase in book size including the seasonal increase relative to FY23

●

A £2.2bn decrease as a result of foreign exchange movements primarily due to the strengthening of GBP against USD

Market risk RWAs decreased £2.9bn:

●

A £2.1bn decrease in book size due to trading activity

Leverage ratios1,2	As at 30.09.24	As at 30.06.24	As at 31.12.23
Leverage ratios1,2	£m	£m	£m
UK leverage ratio3	4.9%	5.0%	5.2%
T1 capital	58,769	60,654	60,507
UK leverage exposure	1,197,445	1,222,722	1,168,275
Average UK leverage ratio	4.6%	4.7%	4.8%
Average T1 capital	59,328	60,617	60,343
Average UK leverage exposure	1,277,714	1,300,424	1,266,880

1	Capital and leverage measures are calculated applying the transitional arrangements in accordance with UK CRR.
2	Fully loaded UK leverage ratio was 4.9%, with £58.7bn of T1 capital and £1,197.4bn of leverage exposure. Fully loaded average UK leverage ratio was 4.6% with £59.2bn of T1 capital and £1,277.6bn of leverage exposure. Fully loaded UK leverage ratios are calculated without applying the transitional arrangements in accordance with UK CRR.
3	Although the leverage ratio is expressed in terms of T1 capital, the leverage ratio buffers and 75% of the minimum requirement must be covered solely with CET1 capital. The CET1 capital held against the 0.53% G-SII ALRB was £6.3bn and against the 0.3% CCLB was £3.6bn.

Condensed Consolidated Financial Statements

Condensed consolidated income statement (unaudited)
	Nine months ended 30.09.24	Nine months ended 30.09.23
	£m	£m
Total income	19,824	19,780
Operating expenses excluding UK regulatory levies & litigation and conduct	(11,951)	(11,979)
UK regulatory levies1	(93)	—
Litigation and conduct	(99)	(32)
Operating expenses	(12,143)	(12,011)
Other net income	37	7
Profit before impairment	7,718	7,776
Credit impairment charges	(1,271)	(1,329)
Profit before tax	6,447	6,447
Tax charge	(1,304)	(1,257)
Profit after tax	5,143	5,190

Attributable to:
Shareholders of the parent	4,351	4,385
Other equity holders	763	766
Equity holders of the parent	5,114	5,151
Non-controlling interests	29	39
Profit after tax	5,143	5,190

Earnings per share
Basic earnings per ordinary share	29.3p	28.2p

1	Comprises the impact of the BoE levy scheme. Please refer to Group Finance Director’s Review, Other matters for details.

Condensed consolidated balance sheet (unaudited)
	As at 30.09.24	As at 31.12.23
Assets	£m	£m
Cash and balances at central banks	215,061	224,634
Cash collateral and settlement balances	141,703	108,889
Debt securities at amortised cost	64,637	56,749
Loans and advances at amortised cost to banks	8,120	9,459
Loans and advances at amortised cost to customers	326,427	333,288
Reverse repurchase agreements and other similar secured lending at amortised cost	3,579	2,594
Trading portfolio assets	187,400	174,605
Financial assets at fair value through the income statement	214,257	206,651
Derivative financial instruments	258,622	256,836
Financial assets at fair value through other comprehensive income	80,778	71,836
Investments in associates and joint ventures	894	879
Goodwill and intangible assets	8,123	7,794
Current tax assets	144	121
Deferred tax assets	5,569	5,960
Other assets	15,821	17,192
Total assets	1,531,135	1,477,487

Liabilities
Deposits at amortised cost from banks	18,037	14,472
Deposits at amortised cost from customers	524,717	524,317
Cash collateral and settlement balances	135,060	94,084
Repurchase agreements and other similar secured borrowings at amortised cost	45,250	41,601
Debt securities in issue	89,424	96,825
Subordinated liabilities	11,322	10,494
Trading portfolio liabilities	64,284	58,669
Financial liabilities designated at fair value	305,328	297,539
Derivative financial instruments	249,861	250,044
Current tax liabilities	625	529
Deferred tax liabilities	22	22
Other liabilities	15,573	17,027
Total liabilities	1,459,503	1,405,623

Equity
Called up share capital and share premium	4,205	4,288
Other reserves	(476)	(77)
Retained earnings	55,504	53,734
Shareholders' equity attributable to ordinary shareholders of the parent	59,233	57,945
Other equity instruments	11,739	13,259
Total equity excluding non-controlling interests	70,972	71,204
Non-controlling interests	660	660
Total equity	71,632	71,864

Total liabilities and equity	1,531,135	1,477,487

Condensed consolidated statement of changes in equity (unaudited)
	Called up share capital and share premium	Other equity instruments	Other reserves	Retained earnings	Total	Non- controlling interests	Total equity
Nine months ended 30.09.2024	£m	£m	£m	£m	£m	£m	£m
Balance as at 1 January 2024	4,288	13,259	(77)	53,734	71,204	660	71,864
Profit after tax	—	763	—	4,351	5,114	29	5,143
Currency translation movements	—	—	(1,328)	—	(1,328)	—	(1,328)
Fair value through other comprehensive income reserve	—	—	(150)	—	(150)	—	(150)
Cash flow hedges	—	—	1,409	—	1,409	—	1,409
Retirement benefit remeasurements	—	—	—	(127)	(127)	—	(127)
Own credit	—	—	(491)	—	(491)	—	(491)
Total comprehensive income for the period	—	763	(560)	4,224	4,427	29	4,456
Employee share schemes and hedging thereof	80	—	—	740	820	—	820
Issue and redemption of other equity instruments	—	(1,508)	—	(97)	(1,605)	—	(1,605)
Other equity instruments coupon paid	—	(763)	—	—	(763)	—	(763)
Vesting of employee share schemes	—	—	(4)	(495)	(499)	—	(499)
Dividends paid	—	—	—	(1,221)	(1,221)	(29)	(1,250)
Repurchase of shares	(163)	—	163	(1,373)	(1,373)	—	(1,373)
Other movements	—	(12)	2	(8)	(18)	—	(18)
Balance as at 30 September 2024	4,205	11,739	(476)	55,504	70,972	660	71,632

Three months ended 30.09.2024	£m	£m	£m	£m	£m	£m	£m
Balance as at 1 July 2024	4,256	12,959	(882)	54,840	71,173	660	71,833
Profit after tax	—	253	—	1,564	1,817	3	1,820
Currency translation movements	—	—	(1,244)	—	(1,244)	—	(1,244)
Fair value through other comprehensive income reserve	—	—	119	—	119	—	119
Cash flow hedges	—	—	1,499	—	1,499	—	1,499
Retirement benefit remeasurements	—	—	—	(30)	(30)	—	(30)
Own credit	—	—	(29)	—	(29)	—	(29)
Total comprehensive income for the period	—	253	345	1,534	2,132	3	2,135
Employee share schemes and hedging thereof	15	—	—	158	173	—	173
Issue and redemption of other equity instruments	—	(1,245)	—	(5)	(1,250)	—	(1,250)
Other equity instruments coupon paid	—	(253)	—	—	(253)	—	(253)
Vesting of employee share schemes	—	—	(7)	(7)	(14)	—	(14)
Dividends paid	—	—	—	(425)	(425)	(3)	(428)
Repurchase of shares	(66)	—	66	(591)	(591)	—	(591)
Other movements	—	25	2	—	27	—	27
Balance as at 30 September 2024	4,205	11,739	(476)	55,504	70,972	660	71,632

	As at 30.09.24	As at 31.12.23
Other Reserves	£m	£m
Currency translation reserve	2,343	3,671
Fair value through other comprehensive income reserve	(1,516)	(1,366)
Cash flow hedging reserve	(2,298)	(3,707)
Own credit reserve	(729)	(240)
Other reserves and treasury shares	1,724	1,565
Total	(476)	(77)

Appendix: Non-IFRS Performance Measures

The Group’s management believes that the non-IFRS performance measures included in this document provide valuable information to the readers of the financial statements, as they enable the reader to identify a more consistent basis for comparing the businesses’ performance between financial periods, and provide more detail concerning the elements of performance which the managers of these businesses are most directly able to influence or are relevant for an assessment of the Group. They also reflect an important aspect of the way in which operating targets are defined and performance is monitored by management.

However, any non-IFRS performance measures in this document are not a substitute for IFRS measures and readers should consider the IFRS measures as well.

Non-IFRS performance measures glossary

Measure	Definition
Loan: deposit ratio	Total loans and advances at amortised cost divided by total deposits at amortised cost.
Attributable profit	Profit after tax attributable to ordinary shareholders of the parent.
Period end tangible equity refers to:
Period end tangible shareholders' equity (for Barclays Group)	Shareholders' equity attributable to ordinary shareholders of the parent, adjusted for the deduction of goodwill and intangible assets.
Period end allocated tangible equity (for businesses)	Allocated tangible equity is calculated as 13.5% (2023: 13.5%) of RWAs for each business, adjusted for capital deductions, excluding goodwill and intangible assets, reflecting the assumptions the Barclays Group uses for capital planning purposes. Head Office allocated tangible equity represents the difference between the Barclays Group’s tangible shareholders’ equity and the amounts allocated to businesses.
Average tangible equity refers to:
Average tangible shareholders’ equity (for Barclays Group)	Calculated as the average of the previous month’s period end tangible shareholders' equity and the current month’s period end tangible shareholders' equity. The average tangible shareholders’ equity for the period is the average of the monthly averages within that period.
Average allocated tangible equity (for businesses)	Calculated as the average of the previous month’s period end allocated tangible equity and the current month’s period end allocated tangible equity. The average allocated tangible equity for the period is the average of the monthly averages within that period.
Return on tangible equity (RoTE) refers to:
Return on average tangible shareholders’ equity (for Barclays Group)	Annualised Group attributable profit, as a proportion of average tangible shareholders’ equity. The components of the calculation have been included on pages 43 to 441.
Return on average allocated tangible equity (for businesses)	Annualised business attributable profit, as a proportion of that business's average allocated tangible equity. The components of the calculation have been included on pages 43 to 45.
Operating expenses excluding litigation and conduct	A measure of total operating expenses excluding litigation and conduct charges.
Operating costs	A measure of total operating expenses excluding litigation and conduct charges and UK regulatory levies.
Cost: income ratio	Total operating expenses divided by total income.
Loan loss rate	Quoted in basis points and represents total impairment charges divided by total gross loans and advances held at amortised cost at the balance sheet date.
Net interest margin	Annualised net interest income divided by the sum of average customer assets. The components of the calculation have been included on page 14.
Tangible net asset value per share	Calculated by dividing shareholders’ equity, excluding non-controlling interests and other equity instruments, less goodwill and intangible assets, by the number of issued ordinary shares. The components of the calculation have been included on page 47.
Profit before impairment	Calculated by excluding credit impairment charges or releases from profit before tax.
Structural cost actions	Cost actions taken to improve future financial performance.
Group net interest income excluding Barclays Investment Bank and Head Office	A measure of Barclays Group net interest income, excluding the net interest income reported in Barclays Investment Bank and Head Office.
Inorganic activity	Inorganic activity refers to certain inorganic transactions announced as part of the FY23 Investor Update designed to improve Group RoTE beyond 2024. In Q324 YTD this included the £220m loss on sale of the performing Italian retail mortgage portfolio and the £20m loss on disposal from the German consumer finance business, both incurred in H124. There were no inorganic transactions in Q324. For FY24 this is expected to also include the loss on sale of the non-performing Italian mortgage portfolio and the impact of the Tesco Bank acquisition.
Performance measures excluding the impact of inorganic activity	Calculated by excluding the impact of inorganic activity from performance measures. The components of the calculations for Barclays Group and businesses have been included on page 5 and on page 46.

Returns

	Nine months ended 30.09.24
	Barclays UK	Barclays UK Corporate Bank	Barclays Private Bank and Wealth Management	Barclays Investment Bank	Barclays US Consumer Bank	Head Office	Barclays Group
Return on average tangible equity	£m	£m	£m	£m	£m	£m	£m
Attributable profit/(loss)	1,684	392	225	2,266	208	(424)	4,351

	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Average equity	14.4	3.0	1.1	29.8	3.7	6.3	58.3
Average goodwill and intangibles	(3.9)	—	(0.1)	—	(0.4)	(3.5)	(7.9)
Average tangible equity	10.5	3.0	1.0	29.8	3.3	2.8	50.4

Return on average tangible equity	21.4%	17.3%	29.5%	10.1%	8.4%	n/m	11.5%

	Nine months ended 30.09.23
	Barclays UK	Barclays UK Corporate Bank	Barclays Private Bank and Wealth Management	Barclays Investment Bank	Barclays US Consumer Bank	Head Office	Barclays Group
Return on average tangible equity	£m	£m	£m	£m	£m	£m	£m
Attributable profit/(loss)	1,580	525	283	2,190	134	(327)	4,385

	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Average equity	14.0	2.9	1.1	29.0	3.9	4.6	55.5
Average goodwill and intangibles	(3.8)	—	(0.1)	—	(0.7)	(3.9)	(8.5)
Average tangible equity	10.2	2.9	1.0	29.0	3.2	0.7	47.0

Return on average tangible equity	20.6%	24.4%	37.1%	10.1%	5.7%	n/m	12.5%

Barclays Group
Return on average tangible shareholders' equity	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Return on average tangible shareholders' equity	£m	£m	£m	£m	£m	£m	£m	£m
Attributable profit/(loss)	1,564	1,237	1,550	(111)	1,274	1,328	1,783	1,036

	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Average shareholders' equity	59.1	57.7	58.3	57.1	55.1	55.4	55.9	54.9
Average goodwill and intangibles	(8.1)	(7.9)	(7.8)	(8.2)	(8.6)	(8.7)	(8.3)	(8.2)
Average tangible shareholders' equity	51.0	49.8	50.5	48.9	46.5	46.7	47.6	46.7

Return on average tangible shareholders' equity	12.3%	9.9%	12.3%	(0.9)%	11.0%	11.4%	15.0%	8.9%

Barclays UK
Return on average allocated tangible equity	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Return on average allocated tangible equity	£m	£m	£m	£m	£m	£m	£m	£m
Attributable profit	621	584	479	382	531	534	515	474

	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Average allocated equity	14.5	14.4	14.3	14.1	14.0	14.2	13.9	13.7
Average goodwill and intangibles	(3.9)	(3.9)	(3.9)	(3.9)	(3.9)	(4.0)	(3.6)	(3.5)
Average allocated tangible equity	10.6	10.5	10.4	10.2	10.1	10.2	10.3	10.2

Return on average allocated tangible equity	23.4%	22.3%	18.5%	14.9%	21.0%	20.9%	20.0%	18.7%

Barclays UK Corporate Bank
Return on average allocated tangible equity	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Return on average allocated tangible equity	£m	£m	£m	£m	£m	£m	£m	£m
Attributable profit	144	135	113	59	129	239	157	131

	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Average allocated equity	3.1	3.0	3.0	2.8	2.8	2.9	2.9	2.9
Average goodwill and intangibles	—	—	—	—	—	—	—	—
Average allocated tangible equity	3.1	3.0	3.0	2.8	2.8	2.9	2.9	2.9

Return on average allocated tangible equity	18.8%	18.0%	15.2%	8.4%	18.3%	32.9%	21.7%	17.8%

Barclays Private Bank and Wealth Management
Return on average allocated tangible equity	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Return on average allocated tangible equity	£m	£m	£m	£m	£m	£m	£m	£m
Attributable profit	74	77	74	47	102	91	90	92

	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Average allocated equity	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.2
Average goodwill and intangibles	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)
Average allocated tangible equity	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.1

Return on average allocated tangible equity	29.0%	30.8%	28.7%	19.1%	41.2%	35.9%	34.5%	34.9%

Barclays Investment Bank
Return on average allocated tangible equity	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Return on average allocated tangible equity	£m	£m	£m	£m	£m	£m	£m	£m
Attributable profit/(loss)	652	715	899	(149)	580	562	1,048	313

	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Average allocated equity	29.5	29.9	30.0	28.9	28.8	29.0	29.1	30.9
Average goodwill and intangibles	—	—	—	—	—	—	—	—
Average allocated tangible equity	29.5	29.9	30.0	28.9	28.8	29.0	29.1	30.9

Return on average allocated tangible equity	8.8%	9.6%	12.0%	(2.1)%	8.0%	7.7%	14.4%	4.0%

Barclays US Consumer Bank
Return on average allocated tangible equity	Q324	Q224	Q124	Q423	Q323	Q223	Q123	Q422
Return on average allocated tangible equity	£m	£m	£m	£m	£m	£m	£m	£m
Attributable profit/(loss)	89	75	44	(3)	3	72	59	101

	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Average allocated equity	3.8	3.6	3.6	3.6	3.8	3.9	3.9	4.1
Average goodwill and intangibles	(0.5)	(0.3)	(0.3)	(0.3)	(0.7)	(0.8)	(0.8)	(0.9)
Average allocated tangible equity	3.3	3.3	3.3	3.3	3.1	3.1	3.1	3.2

Return on average allocated tangible equity	10.9%	9.2%	5.3%	(0.3)%	0.4%	9.3%	7.5%	12.6%

Performance measures excluding the impact of inorganic activity

	Nine months ended 30.09.24
	Barclays UK	Barclays UK Corporate Bank	Barclays Private Bank and Wealth Management	Barclays Investment Bank	Barclays US Consumer Bank	Head Office	Barclays Group
	£m	£m	£m	£m	£m	£m	£m
Total income	5,659	1,322	958	9,198	2,469	218	19,824
Inorganic activity	—	—	—	—	—	(240)	(240)
Total income excluding inorganic activity	5,659	1,322	958	9,198	2,469	458	20,064

Total operating expenses	(3,114)	(708)	(657)	(5,818)	(1,193)	(653)	(12,143)

Cost: income ratio excluding inorganic activity	55%	54%	69%	63%	48%	n/a	61%

Attributable profit/(loss)	1,684	392	225	2,266	208	(424)	4,351
Post-tax impact of inorganic activity	—	—	—	—	—	(233)	(233)
Attributable profit/(loss) excluding inorganic activity	1,684	392	225	2,266	208	(191)	4,584

Average tangible equity (£bn)	10.5	3.0	1.0	29.8	3.3	2.8	50.4

Return on average tangible equity excluding inorganic activity	21.4%	17.3%	29.5%	10.1%	8.4%	n/a	12.1%

	Three months ended 30.09.24
	Barclays UK	Barclays UK Corporate Bank	Barclays Private Bank and Wealth Management	Barclays Investment Bank	Barclays US C onsumer Bank	Head Office	Barclays Group
	£m	£m	£m	£m	£m	£m	£m
Total income	1,946	445	326	2,851	791	188	6,547
Inorganic activity	—	—	—	—	—	—	—
Total income excluding inorganic activity	1,946	445	326	2,851	791	188	6,547

Total operating expenses	(1,006)	(222)	(221)	(1,916)	(393)	(204)	(3,962)

Cost: income ratio excluding inorganic activity	52%	50%	68%	67%	50%	n/a	61%

Attributable profit/(loss)	621	144	74	652	89	(16)	1,564
Post-tax impact of inorganic activity	—	—	—	—	—	—	—
Attributable profit/(loss) excluding inorganic activity	621	144	74	652	89	(16)	1,564

Average tangible equity (£bn)	10.6	3.1	1.0	29.5	3.3	3.5	51.0

Return on average tangible equity excluding inorganic activity	23.4%	18.8%	29.0%	8.8%	10.9%	n/a	12.3%

Tangible net asset value per share	As at 30.09.24	As at 31.12.23	As at 30.09.23
	£m	£m	£m
Total equity excluding non-controlling interests	70,972	71,204	68,315
Other equity instruments	(11,739)	(13,259)	(11,857)
Goodwill and intangibles	(8,123)	(7,794)	(8,265)
Tangible shareholders' equity attributable to ordinary shareholders of the parent	51,110	50,151	48,193

	m	m	m
Shares in issue	14,571	15,155	15,239

	p	p	p
Tangible net asset value per share	351	331	316

Shareholder Information

Results timetable1					Date
2024 Full Year Results and Annual Report					13 February 2025


						% Change3
Exchange rates2	30.09.24	30.06.24	31.12.23	30.09.23		30.06.24	31.12.23	30.09.23
Period end - USD/GBP	1.34	1.26	1.28	1.22		6%	5%	10%
YTD average - USD/GBP	1.28	1.30	1.24	1.24		(2)%	3%	3%
3 month average - USD/GBP	1.30	1.26	1.24	1.27		3%	5%	2%
Period end - EUR/GBP	1.20	1.18	1.15	1.15		2%	4%	4%
YTD average - EUR/GBP	1.17	1.19	1.15	1.15		(2)%	2%	2%
3 month average - EUR/GBP	1.18	1.18	1.15	1.16		—%	3%	2%

Share price data
Barclays PLC (p)	224.55	208.90	153.78	158.94
Barclays PLC number of shares (m)4	14,571	14,826	15,155	15,239

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1	Note that this date is provisional and subject to change.
2	The average rates shown above are derived from daily spot rates during the year.
3	The change is the impact to GBP reported information.
4	The number of shares of 14,571m as at 30 September 2024 is different from the 14,561m quoted in the 1 October 2024 announcement entitled “Total Voting Rights” because the share buyback transactions executed on 27 and 30 September 2024 did not settle until 1 and 2 October 2024 respectively.
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