Group Reporting Changes in 20

RNS Number : 5626Z
Barclays PLC
22 July 2008
 



   22nd July 2008

BARCLAYS PLC


GROUP REPORTING CHANGES IN 2008


Barclays PLC today announces the impact of certain changes in Group structure and reporting on 2007 and 2006 results. The restatements have no impact on the Group Income Statement or Balance Sheet. The 2007 and 2006 results for the businesses impacted are restated on pages 2 to 33 to show the effect of these changes. These changes reflect the adoption of IFRS 8 'Operating Segments' which has been early adopted as at 1st January 2008.


Group structure changes - effective 1st January 2008.


The businesses previously managed and reported as International Retail and Commercial Banking - excluding Absa are now reported and managed separately as Global Retail and Commercial Banking - Western Europe and Global Retail and Commercial Banking - Emerging Markets going forward.


Barclays Commercial Bank. The Marine Finance business, previously part of Barclaycard, is now managed and reported within Barclays Commercial Bank.


Barclaycard. The Absa credit card portfolio, previously part of International Retail and Commercial Banking - Absa is now managed and reported within Barclaycard. Certain credit card portfolios previously part of Barclaycard are now managed and reported as part of Global Retail and Commercial Banking - Western Europe. The Marine Finance business, previously part of Barclaycard is now managed and reported within Barclays Commercial Bank.


Global Retail and Commercial Banking Western Europe. Certain credit card portfolios previously part of Barclaycard are now managed and reported as part of Global Retail and Commercial Banking - Western Europe.


International Retail and Commercial Banking - Absa. This business will be known going forward as Global Retail and Commercial Banking - Absa.  The Absa credit card portfolio previously part of Global Retail and Commercial Banking - Absa is now managed and reported within Barclaycard.


Certain expenses, assets and staff previously reported within International Retail and Commercial Banking - excluding Absa have been allocated across UK Retail BankingBarclays Commercial BankBarclaycardGlobal Retail and Commercial Banking - Western EuropeGlobal Retail and Commercial Banking - Emerging Markets and Global Retail and Commercial Banking - Absa.


Certain pension assets and liabilities have been reclassified from Head Office and Other Operations to the other businesses in the Group.


UK Banking which previously reflected UK Retail Banking and Barclays Commercial Bank combined is no longer reported as a separate segment.


The structure remains unchanged for Barclays CapitalBarclays Global Investors, Barclays Wealth and Head Office and Other Operations.


For further information please contact:


Investor Relations

Media Relations

Mark Merson/John McIvor

Alistair Smith/Robin Tozer

+44 (0) 20 7116 5752/2929

+44 (0) 20 7116 6132/6586


The information in this announcement does not comprise statutory accounts within the meaning of Section 240 of the Companies Act 1985 (the 'Act'). Statutory accounts for the years ended 31st December 2007 and 31st December 2006, which also include certain information required for the joint Annual Report on Form 20-F of Barclays PLC and Barclays Bank PLC to the US Securities and Exchange Commission, have been delivered to the Registrar of Companies in accordance with Section 242 of the Act and the group's auditors have reported on those accounts and have given an unqualified report which does not contain a statement under Section 237(2) or (3) of the Act..

  Business analysis of profit before tax net of restatements




Group






    2007 as


structure


2007


2006


published


changes


restated


restated

 

£m


£m


£m


£m

UK Retail Banking 

1,282


(7)


1,275


1,181

Barclays Commercial Bank

1,371


(14)


1,357


1,362

Barclaycard

540


63


603


522

IRCB - ex Absa

246


(246)


-


-

GRCB - Absa

689


(92)


597


609

GRCB - Western Europe

-


196


196


162

GRCB - Emerging Markets

-


100


100


384

Barclays Capital

2,335


-


2,335


2,216

Barclays Global Investors

734


-


734


714

Barclays Wealth

307


-


307


245

Head office functions and other operations

(428)


-


(428)


(259)

Profit before tax

7,076


-


7,076


7,136


















  UK Retail Banking




Group






    2007 as


structure


    2007 as


    2006 as


published


changes


restated


restated


£m


£m


£m


£m

Net interest income   

2,858


-


2,858


2,765

Net fee and commission income

1,183


-


1,183


1,232

Net premiums from insurance contracts

252


-


252


342

Other income

47


-


47


42

Total income

4,340


-


4,340


4,381

Net claims and benefits incurred under insurance contracts

(43)


-


(43)


(35)

Total income net of insurance claims

4,297


-


4,297


4,346

Impairment charges 

(559)


-


(559)


(635)

Net income

3,738


-


3,738


3,711

Operating expenses excluding amortisation of intangible assets

(2,455)


(6)


(2,461)


(2,531)

Amortisation of intangible assets

(8)


(1)


(9)


(1)

Operating expenses 

(2,463)


(7)


(2,470)


(2,532)

Share of post-tax results of associates and joint ventures

7


-


7


2

Profit before tax

1,282


(7)


1,275


1,181









Balance Sheet Information








Loans and advances to customers

£82.0bn




£82.0bn


£74.7bn

Customer accounts

£87.1bn




£87.1bn


£82.3bn

Total assets

£87.8bn




£88.5bn


£81.7bn









Performance Ratios








Return on average economic capital

28%




28%


28%

Cost:income ratio1

57%




57%


58%

Cost:net income ratio2

66%




66%


68%









Other Financial Measures








Risk Tendency

£470m




£470m


£500m

Economic profit

£622m




£617m


£590m

Risk weighted assets (Basel I)

£46.0bn




£46.1bn


£43.0bn

Risk weighted assets (Basel II)

£30.5bn




£30.5bn


-









Staff Numbers

 32,800




32,800


34,500














1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  

Barclays Commercial Bank




Group






    2007 as


structure


    2007 as


    2006 as


published


changes


restated


restated


£m


£m


£m


£m

Net interest income  

1,738


9


1,747


1,710

Net fee and commission income

749


1


750


643

Net trading income

9


-


9


2

Net investment income

47


-


47


28

Principal transactions

56


-


56


30

Other income

11


-


11


21

Total income

2,554


10


2,564


2,404

Impairment charges 

(290)


(2)


(292)


(253)

Net income

2,264


8


2,272


2,151

Operating expenses excluding amortisation of intangible assets

(903)


(21)


(924)


(867)

Amortisation of intangible assets

(4)


(1)


(5)


(1)

Operating expenses 

(907)


(22)


(929)


(868)

Share of post-tax results of associates and joint ventures

-


-


-


3

Profit on disposal of subsidiaries, associates and joint ventures

14


-


14


76

Profit before tax

1,371


(14)


1,357


1,362









Balance Sheet Information








Loans and advances to customers

£63.3bn




£63.7bn


£56.6bn

Customer accounts

£60.8bn




£60.8bn


£57.4bn

Total assets

£73.9bn




£74.6bn


£66.2bn









Performance Ratios








Return on average economic capital

30%




30%


36%

Cost:income ratio1

36%




36%


36%

Cost:net income ratio2

40%




41%


40%









Other Financial Measures








Risk Tendency

£305m




£305m


£300m

Economic profit

£650m




£635m


£729m

Risk weighted assets (Basel I)

£53.8bn




£54.3bn


£50.3bn

Risk weighted assets (Basel II)

£61.7bn




£62.1bn


-









Staff Numbers

8,400




9,200


*8,100


*In the second half of 2007 certain operations personnel were transferred from UK Retail Banking to Barclays Commercial Bank. The Staff numbers of 8,100 as at 31st December 2007 do not include 900 such personnel.








1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Barclaycard




Group






    2007 as


structure


    2007 as


    2006 as


published


changes


restated


restated


£m


£m


£m


£m

Net interest income  

1,394


(20)


1,374


1,363

Net fee and commission income

1,080


63


1,143


1,183

Net investment income

11


-


11


20

Net premiums from insurance contracts

40


-


40


18

Other income

(26)


1


(25)


-

Total income

2,499


44


2,543


2,584

Net claims and benefits incurred under insurance contracts

(13)


-


(13)


(8)

Total income net of insurance claims

2,486


44


2,530


2,576

Impairment charges 

(838)


11


(827)


(1,053)

Net income

1,648


55


1,703


1,523

Operating expenses excluding amortisation of intangible assets

(1,073)


16


(1,057)


(969)

Amortisation of intangible assets

(28)


(8)


(36)


(24)

Operating expenses 

(1,101)


8


(1,093)


(993)

Share of post-tax results of associates and joint ventures

(7)


-


(7)


(8)

Profit before tax

540


63


603


522









Balance Sheet Information








Loans and advances to customers

£20.1bn




£19.7bn


£18.1bn

Total assets

£22.2bn




£22.1bn


£20.0bn









Performance Ratios








Return on average economic capital

19%




20%


19%

Cost:income ratio1

44%




43%


39%

Cost:net income ratio2

67%




64%


65%









Other Financial Measures








Risk Tendency

£945m




£955m


£1,090m

Economic profit

£183m




£213m


£183m

Risk weighted assets (Basel I)

£19.9bn




£19.7bn


£16.9bn

Risk weighted assets (Basel II)

£22.4bn




£22.5bn


-









Staff Numbers

7,800




8,900


9,100




















1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  International Retail and Commercial Banking - excluding Absa




Group






    2007 as


structure


    2007 as


    2006 as


published


changes


restated


restated


£m


£m


£m


£m

Net interest income  

753


(753)


-


-

Net fee and commission income

425


(425)


-


-

Net trading income

68


(68)


-


-

Net investment income

109


(109)


-


-

Principal transactions

177


(177)


-


-

Net premiums from insurance contracts

145


(145)


-


-

Other income

9


(9)


-


-

Total income

1,509


(1,509)


-


-

Net claims and benefits incurred under insurance contracts

(170)


170


-


-

Total income net of insurance claims

1,339


(1,339)


-


-

Impairment charges 

(79)


79


-


-

Net income

1,260


(1,260)


-


-

Operating expenses excluding amortisation of intangible assets

(1,007)


1,007


-


-

Amortisation of intangible assets

(16)


16


-


-

Operating expenses 

(1,023)


1,023


-


-

Share of post-tax results of associates and joint ventures

1


(1)


-


-

Profit on disposal of subsidiaries, associates and joint ventures

8


(8)


-


-

Profit before tax

246


(246)


-


-









Balance Sheet Information








Loans and advances to customers

£39.3bn




-


-

Customer accounts

£15.7bn




-


-

Total assets

£52.2bn




-


-









Performance Ratios








Return on average economic capital

11%




-


-

Cost:income ratio1

76%




-


-

Cost:net income ratio2

81%




-


-









Other Financial Measures








Risk Tendency

£220m




-


-

Economic profit

£20m




-


-

Risk weighted assets (Basel I)

£29.7bn




-


-

Risk weighted assets (Basel II)

£34.6bn




-


-









Staff Numbers

22,100




-


-















1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Global Retail and Commercial Banking - Absa 

 



Group





 

    2007 as


structure


    2007 as


    2006 as

 

published


changes


restated


restated

 

£m


£m


£m


£m

Net interest income  

1,137


(82)


1,055


983

Net fee and commission income

785


(101)


684


754

Net trading income/(loss)

1


(1)


-


(11)

Net investment income

70


-


70


117

Principal transactions

71


(1)


70


106

Net premiums from insurance contracts

227


-


227


240

Other income

78


(1)


77


54

Total income

2,298


(185)


2,113


2,137

Net claims and benefits incurred under insurance contracts

(114)


-


(114)


(106)

Total income net of insurance claims

2,184


(185)


1,999


2,031

Impairment charges 

(173)


27


(146)


(112)

Net income

2,011


(158)


1,853


1,919

Operating expenses excluding amortisation of intangible assets

(1,272)


60


(1,212)


(1,250)

Amortisation of intangible assets

(61)


6


(55)


(69)

Operating expenses 

(1,333)


66


(1,267)


(1,319)

Share of post-tax results of associates and joint ventures

6


-


6


9

Profit on disposal of subsidiaries, associates and joint ventures

5


-


5


-

Profit before tax

689


(92)


597


609

 








Balance Sheet Information








Loans and advances to customers

£30.8bn




£29.9bn


£23.5bn

Customer accounts

£13.1bn




£13.0bn


£10.9bn

Total assets

£37.3bn




£36.4bn


£29.6bn

 








Performance Ratios








Return on average economic capital

23%




20%


29%

Cost:income ratio1

61%




63%


65%

Cost:net income ratio2

66%




68%


69%

 








Other Financial Measures








Risk Tendency

£255m




£190m


£130m

Economic profit

£130m




£98m


£138m

Risk weighted assets (Basel I)

£23.6bn




£22.4bn


£19.8bn

Risk weighted assets (Basel II)

£18.3bn




£17.2bn


-









Staff Numbers

36,200




35,800


33,000








1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Global Retail and Commercial Banking - Western Europe

 



Group





 

    2007 as


structure


    2007 as


    2006 as

 

published


changes


restated


restated

 

£m


£m


£m


£m

Net interest income  

-


527


527


436

Net fee and commission income

-


322


322


248

Net trading income

-


13


13


14

Net investment income

-


93


93


65

Principal transactions

-


106


106


79

Net premiums from insurance contracts

-


145


145


110

Other income

-


7


7


16

Total income

-


1,107


1,107


889

Net claims and benefits incurred under insurance contracts

-


(170)


(170)


(138)

Total income net of insurance claims

-


937


937


751

Impairment charges 

-


(76)


(76)


(38)

Net income

-


861


861


713

Operating expenses excluding amortisation of intangible assets

-


(665)


(665)


(542)

Amortisation of intangible assets

-


(8)


(8)


(8)

Operating expenses 

-


(673)


(673)


(550)

Share of post-tax results of associates and joint ventures

-


-


-


(1)

Profit on disposal of subsidiaries, associates and joint ventures

-


8


8


-

Profit before tax

-


196


196


162

 








Balance Sheet Information








Loans and advances to customers

-




£35.0bn


£26.9bn

Customer accounts

-




£9.4bn


£6.8bn

Total assets

-




£43.7bn


£33.5bn

 








Performance Ratios








Return on average economic capital

-




11%


11%

Cost:income ratio1

-




72%


73%

Cost:net income ratio2

-




78%


77%

 








Other Financial Measures








Risk Tendency

-




£135m


£90m

Economic profit

-




£16m


£9m

Risk weighted assets (Basel I)

-




£24.5bn


£17.6bn

Risk weighted assets (Basel II)





£25.1bn


-









Staff Numbers

-




8,800


6,600

 














    1  The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2  The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  

Global Retail and Commercial Banking - Emerging Markets

 



Group





 

    2007 as


structure


    2007 as


    2006 as

 

published


changes


restated


restated

 

£m


£m


£m


£m

Net interest income  

-


319


319


246

Net fee and commission income

-


140


140


141

Net trading income

-


56


56


3

Net investment income

-


16


16


1

Principal transactions

-


72


72


4

Net premiums from insurance contracts

-


-


-


1

Other income

-


2


2


4

Total income

-


533


533


396

Net claims and benefits incurred under insurance contracts

-


-


-


-

Total income net of insurance claims

-


533


533


396

Impairment charges 

-


(39)


(39)


(30)

Net income

-


494


494


366

Operating expenses excluding amortisation of intangible assets

-


(391)


(391)


(269)

Amortisation of intangible assets

-


(4)


(4)


(1)

Operating expenses 

-


(395)


(395)


(270)

Share of post-tax results of associates and joint ventures

-


1


1


41

Profit on disposal of subsidiaries, associates and joint ventures

-


-


-


247

Profit before tax

-


100


100


384

 








Balance Sheet Information








Loans and advances to customers

-




£5.1bn


£2.7bn

Customer accounts

-




£6.2bn


£4.2bn

Total assets

-




£9.2bn


£5.2bn

 








Performance Ratios








Return on average economic capital

-




15%


103%

Cost:income ratio1

-




74%


68%

Cost:net income ratio2

-




80%


74%

 








Other Financial Measures








Risk Tendency

-




£140m


£35m

Economic profit

-




£26m


£308m

Risk weighted assets (Basel I)

-




£6.1bn


£3.3bn

Risk weighted assets (Basel II)





£10.2bn


-









Staff Numbers

-




11,800


7,600







1  The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2  The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Barclays Capital

 



Group





 

    2007 as


structure


    2007 as


    2006 as

 

published


changes


restated


published

 

£m


£m


£m


£m

Net interest income  

1,179


-


1,179


1,158

Net fee and commission income

1,235


-


1,235


952

Net trading income

3,739


-


3,739


3,562

Net investment income

953


-


953


573

Principal transactions

4,692


-


4,692


4,135

Other income

13


-


13


22

Total income

7,119


-


7,119


6,267

Impairment charges and other credit provisions

(846)


-


(846)


(42)

Net income

6,273


-


6,273


6,225

Operating expenses excluding amortisation of intangible assets

(3,919)


-


(3,919)


(3,996)

Amortisation of intangible assets

(54)


-


(54)


(13)

Operating expenses 

(3,973)


-


(3,973)


(4,009)

Share of post-tax results of associates and joint ventures

35


-


35


-

Profit before tax

2,335


-


2,335


2,216

 








Balance Sheet Information








Total assets

£839.7bn




£839.9bn


£657.9bn









Performance Ratios








Return on average economic capital

33%




33%


41%

Cost:income ratio1

56%




56%


64%

Cost:net income ratio2

63%




63%


64%









Other Financial Measures








Risk Tendency

£140m




£140m


£95m

Economic profit

£1,172m




£1,172m


£1,181m

Risk weighted assets (Basel I)

£169.1bn




£169.1bn


£137.6bn

Risk weighted assets (Basel II)

£173.0bn




£173.0bn


-

Average DVaR

£42.0m




£42.0m


£37.1m

Average net income generated per member of staff ('000)

£466




£466


£575

Corporate lending portfolio

£52.3bn




£52.3bn


£40.6bn









Staff Numbers

16,200




16,200


13,200












1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Barclays Global Investors




Group






    2007 as


structure


    2007 as


    2006 as


published


changes


published


published


£m


£m


£m


£m

Net interest (expense)/income

(8)


-


(8)


10

Net fee and commission income

1,936


-


1,936


1,651

Net trading income

5


-


5


2

Net investment (expense)/income

(9)


-


(9)


2

Principal transactions

(4)


-


(4)


4

Other Income

2


-


2


-

Total income

1,926


-


1,926


1,665

Operating expenses excluding amortisation of intangible assets

(1,184)


-


(1,184)


(946)

Amortisation of intangible assets

(8)


-


(8)


(5)

Operating expenses

(1,192)


-


(1,192)


(951)

Profit before tax

734


-


734


714









Balance Sheet Information








Total assets

£89.2bn




£89.2bn


£80.5bn









Performance Ratios








Return on average economic capital

241%




241%


228%

Cost:income ratio1

62%




62%


57%









Other Financial Measures








Economic profit

£430m




£430m


£376m

Risk weighted assets (Basel I)

£2.0bn




£2.0bn


£1.4bn

Risk weighted assets (Basel II)

£4.3bn




£4.3bn


-

Average income generated per member of staff ('000)

£631




£631


£666









Staff Numbers

3,400




3,400


2,700






















1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

  Barclays Wealth

 



Group





 

    2007 as


structure


    2007 as


    2006 as

 

published


changes


restated


published

 

£m


£m


£m


£m

Net interest income  

431


-


431


392

Net fee and commission income

739


-


739


674

Net trading income

3


-


3


2

Net investment income

52


-


52


154

Principal transactions

55


-


55


156

Net premiums from insurance contracts

195


-


195


210

Other income

19


-


19


16

Total income

1,439


-


1,439


1,448

Net claims and benefits incurred under insurance contracts

(152)


-


(152)


(288)

Total income net of insurance claims

1,287


-


1,287


1,160

Impairment charges 

(7)


-


(7)


(2)

Net income

1,280


-


1,280


1,158

Operating expenses excluding amortisation of intangible assets

(967)


-


(967)


(909)

Amortisation of intangible assets

(6)


-


(6)


(4)

Operating expenses 

(973)


-


(973)


(913)

Profit before tax

307


-


307


245

 








Balance Sheet Information








Loans and advances to customers

£9.0bn




£9.0bn


£6.2bn

Customer accounts

£34.4bn




£34.4bn


£28.3bn

Total assets

£18.0bn




£18.2bn


£15.0bn

 








Performance Ratios








Return on average economic capital

51%




51%


40%

Cost:income ratio1

76%




76%


79%

 








Other Financial Measures








Risk Tendency

£10m




£10m


£10m

Economic profit

£233m




£233m


£130m

Risk weighted assets (Basel I)

£7.7bn




£7.7bn


£6.1bn

Risk weighted assets (Basel II)

£8.0bn




£8.0bn


-

Average income generated per member of staff

£188




£188


£181

 








Staff Numbers

6,900




6,900


6,600












1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Head Office Functions and Other Operations




Group






    2007 as


structure


    2007 as


    2006 as


published


changes


restated


published


£m


£m


£m


£m

Net interest income

128


-


128


80

Net fee and commission income

(424)


-


(424)


(301)

Net trading (loss)/income

(66)


-


(66)


40

Net investment (expense)/income

(17)


-


(17)


2

Principal transactions

(83)


-


(83)


42

Net premiums from insurance contracts

152


-


152


139

Other income

35


-


35


39

Total income

(192)


-


(192)


(1)

Impairment (charges)/releases

(3)


-


(3)


11

Net income

(195)


-


(195)


10

Operating expenses excluding amortisation of intangible assets

(233)


-


(233)


(259)

Amortisation of intangible assets

(1)


-


(1)


(10)

Operating expenses

(234)


-


(234)


(269)

Profit on disposal of associates and joint ventures

1


-


1


-

Loss before tax

(428)


-


(428)


(259)









Balance Sheet Information








Total assets

£7.1bn




£5.7bn


£7.1bn









Performance Ratios








Risk Tendency

£10m




£10m


£10m

Risk weighted assets (Basel I)

£1.6bn




£1.6bn


£1.9bn

Risk weighted assets (Basel II)

£1.1bn




£1.1bn


-









Staff Numbers

1,100




1,100


1,200






















1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Risk Weighted Assets (Basel I)




Group






    2007 as


structure


    2007 as


    2006 as


Published


changes


restated


restated


£m


£m


£m


£m

UK Retail Banking 

45,992


67


46,059


43,020

Barclays Commercial Bank

53,844


481


54,325


50,302

Barclaycard

19,929


(239)


19,690


16,873

IRCB - ex Absa

29,667


(29,667)


-


-

GRCB - Absa

23,602


(1,154)


22,448


19,809

GRCB - Western Europe

-


24,462


24,462


17,567

GRCB - Emerging Markets

-


6,050


6,050


3,255

Barclays Capital

169,124


-


169,124


137,635

Barclays Global Investors

1,994


-


1,994


1,375

Barclays Wealth

7,692


-


7,692


6,077

Head office functions and other operations

1,632


-


1,632


1,920


353,476


-


353,476


297,833



Risk Weighted Assets (Basel II)




Group








structure


    2007 as


    2006 as


2007


changes


restated


restated


£m


£m


£m


£m

UK Retail Banking 

30,469


71


30,540


-

Barclays Commercial Bank

61,665


391


62,056


-

Barclaycard

22,446


11


22,457


-

IRCB - ex Absa

34,649


(34,649)


-


-

GRCB - Absa

18,297


(1,084)


17,213


-

GRCB - Western Europe

-


25,084


25,084


-

GRCB - Emerging Markets

-


10,176


10,176


-

Barclays Capital

172,974


-


172,974


-

Barclays Global Investors

4,266


-


4,266


-

Barclays Wealth

8,011


-


8,011


-

Head office functions and other operations

1,101


-


1,101


-


353,878


-


353,878


-









  

Profit before tax net of restatements




Half-year ended

 

2007


    31.12.07


    30.06.07

 

£m


£m


£m

UK Retail Banking 

1,275


629


646 

Barclays Commercial Bank

1,357


651


706 

Barclaycard

603


304


299 

GRCB - Absa

597


326


271 

GRCB - Western Europe

196


91


105 

GRCB - Emerging Markets

100


40


60 

Barclays Capital

2,335


675


1,660 

Barclays Global Investors

734


346


388 

Barclays Wealth

307


134


173 

Head office functions and other operations

(428)


(221)


(207)

Profit before tax

7,076


2,975


4,101 



  UK Retail Banking




Half-year ended


2007


    31.12.07


    30.06.07


£m


£m


£m

Net interest income   

2,858


1,451


1,407 

Net fee and commission income

1,183


583


600 

Net premiums from insurance contracts

252


165


87 

Other income

47


(2)


49 

Total income

4,340


2,197


2,143 

Net claims and benefits incurred under insurance contracts

(43)


(21)


(22)

Total income net of insurance claims

4,297


2,176


2,121 

Impairment charges 

(559)


(282)


(277)

Net income

3,738


1,894


1,844 

Operating expenses excluding amortisation of intangible assets

(2,461)


(1,266)


(1,195)

Amortisation of intangible assets

(9)


(5)


(4)

Operating expenses 

(2,470)


(1,271)


(1,199)

Share of post-tax results of associates and joint ventures

7


6


Profit before tax

1,275


629


646 







Balance Sheet Information






Loans and advances to customers



£82.0bn


£77.5bn 

Customer accounts



£87.1bn


£84.5bn 

Total assets



£88.5bn


£84.3bn 







Performance Ratios






Return on average economic capital

28%


28%


28% 

Cost:income ratio1

57%


58%


57% 

Cost:net income ratio2

66%


67%


65% 






 

Other Financial Measures






Risk Tendency



£470m


£580m 

Economic profit



£306m


£311m 

Risk weighted assets (Basel I)



£46.1bn


£42.5bn 

Risk weighted assets (Basel II)



£30.5bn








Staff Numbers



32,800


33,900 














1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.


  Barclays Commercial Bank




Half-year ended


2007


    31.12.07


    30.06.07


£m


£m


£m

Net interest income   

1,747


880


867 

Net fee and commission income

750


398


352 

Net trading income

9


7


Net investment income

47


17


30 

Principal transactions

56


24


32 

Other income

11


5


Total income

2,564


1,307


1,257 

Impairment charges 

(292)


(168)


(124)

Net income

2,272


1,139


1,133 

Operating expenses excluding amortisation of intangible assets

(924)


(499)


(425)

Amortisation of intangible assets

(5)


(3)


(2)

Operating expenses 

(929)


(502)


(427)

Share of post-tax results of associates and joint ventures

-


-


Profit on disposal of subsidiaries, associates and joint ventures

14


14


Profit before tax

1,357


651


706 







Balance Sheet Information






Loans and advances to customers



£63.7bn


£60.4bn 

Customer accounts



£60.8bn


£59.8bn 

Total assets



£74.6bn


£69.8bn 







Performance Ratios






Return on average economic capital

30%


29%


31% 

Cost:income ratio1

36%


38%


34% 

Cost:net income ratio2

41%


44%


38% 






 

Other Financial Measures






Risk Tendency



£305m


£290m 

Economic profit



£303m


£332m 

Risk weighted assets (Basel I)



£54.3bn


£51.1bn 

Risk weighted assets (Basel II)



£62.1bn








Staff Numbers*



9,200


7,900 



*In the second half of 2007 certain operations personnel were transferred from UK Retail Banking to Barclays Commercial Bank. The Staff numbers of 7,900 as at 30th June 2007 do not include 1,200 such personnel.










1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  

Barclaycard




Half-year ended


2007


    31.12.07


    30.06.07


£m


£m


£m

Net interest income   

1,374


688


686 

Net fee and commission income

1,143


567


576 

Net trading income

-


(2)


Net investment income

11


11


Net premiums from insurance contracts

40


19


21 

Other income

(25)


(2)


(23)

Total income

2,543


1,281


1,262 

Net claims and benefits incurred under insurance contracts

(13)


(6)


(7)

Total income net of insurance claims

2,530


1,275


1,255 

Impairment charges 

(827)


(392)


(435)

Net income

1,703


883


820 

Operating expenses excluding amortisation of intangible assets

(1,057)


(553)


(504)

Amortisation of intangible assets

(36)


(21)


(15)

Operating expenses 

(1,093)


(574)


(519)

Share of post-tax results of associates and joint ventures

(7)


(5)


(2)

Profit before tax

603


304


299 







Balance Sheet Information






Loans and advances to customers



£19.7bn


£18.2bn 

Total assets



£22.1bn


£20.4bn 







Performance Ratios






Return on average economic capital

20%


20%


21% 

Cost:income ratio1

43%


45%


41% 

Cost:net income ratio2

64%


65%


63% 






 

Other Financial Measures






Risk Tendency



£955m


£975m 

Economic profit



£98m


£115m 

Risk weighted assets (Basel I)



£19.7bn


£16.9bn 

Risk weighted assets (Basel II)



£22.5bn








Staff Numbers



8,900


8,700 














1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Global Retail and Commercial Banking - Absa




Half-year ended


2007


    31.12.07


    30.06.07


£m


£m


£m

Net interest income   

1,055


582


473 

Net fee and commission income

684


344


340 

Net trading income

-


2


(2)

Net investment income

70


23


47 

Principal transactions

70


25


45 

Net premiums from insurance contracts

227


110


117 

Other income

77


40


37 

Total income

2,113


1,101


1,012 

Net claims and benefits incurred under insurance contracts

(114)


(59)


(55)

Total income net of insurance claims

1,999


1,042


957 

Impairment charges 

(146)


(90)


(56)

Net income

1,853


952


901 

Operating expenses excluding amortisation of intangible assets

(1,212)


(605)


(607)

Amortisation of intangible assets

(55)


(30)


(25)

Operating expenses 

(1,267)


(635)


(632)

Share of post-tax results of associates and joint ventures

6


5


Profit on disposal of subsidiaries, associates and joint ventures

5


4


Profit before tax

597


326


271 

 





 

Balance Sheet Information





 

Loans and advances to customers



£29.9bn


£25.4bn 

Customer accounts



£13.0bn


£12.2bn 

Total assets



£36.4bn


£31.9bn 

 





 

Performance Ratios





 

Return on average economic capital

20%


22%


18% 

Cost:income ratio1

63%


61%


66% 

Cost:net income ratio2

68%


67%


70% 

 





 

Other Financial Measures





 

Risk Tendency



£190m


£185m 

Economic profit



£59m


£39m 

Risk weighted assets (Basel I)



£22.4bn


£20.7bn 

Risk weighted assets (Basel II)



£17.2bn








Staff Numbers



35,800


33,100 











1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Global Retail and Commercial Banking - Western Europe

 



Half-year ended

 

2007


    31.12.07


    30.06.07

 

£m


£m


£m

Net interest income   

527


284


243 

Net fee and commission income

322


166


156 

Net trading income

13


7


Net investment income

93


46


47 

Principal transactions

106


53


53 

Net premiums from insurance contracts

145


100


45 

Other income

7


4


Total income

1,107


607


500 

Net claims and benefits incurred under insurance contracts

(170)


(110)


(60)

Total income net of insurance claims

937


497


440 

Impairment charges 

(76)


(44)


(32)

Net income

861


453


408 

Operating expenses excluding amortisation of intangible assets

(665)


(362)


(303)

Amortisation of intangible assets

(8)


(4)


(4)

Operating expenses 

(673)


(366)


(307)

Profit on disposal of subsidiaries, associates and joint ventures

8


4


Profit before tax

196


91


105 

 





 

Balance Sheet Information





 

Loans and advances to customers



£35.0bn


£29.7bn 

Customer accounts



£9.4bn


£7.7bn 

Total assets



£43.7bn


£36.7bn 

 





 

Performance Ratios





 

Return on average economic capital

11%


10%


12% 

Cost:income ratio1

72%


74%


70% 

Cost:net income ratio2

78%


81%


75% 

 





 

Other Financial Measures





 

Risk Tendency



£135m


£105m 

Economic profit



£2m


£14m 

Risk weighted assets (Basel I)



£24.5bn


£20.4bn 

Risk weighted assets (Basel II)



£25.1bn







 

Staff Numbers



8,800


7,600











1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.    

  Global Retail and Commercial Banking - Emerging Markets

 



Half-year ended

 

2007


    31.12.07


    30.06.07

 

£m


£m


£m

Net interest income   

319


181


138 

Net fee and commission income

140


71


69 

Net trading income

56


42


14 

Net investment income

16


13


Principal transactions

72


55


17 

Other income

2


5


(3)

Total income

533


312


221 

Impairment charges 

(39)


(27)


(12)

Net income

494


285


209 

Operating expenses excluding amortisation of intangible assets

(391)


(239)


(152)

Amortisation of intangible assets

(4)


(7)


Operating expenses 

(395)


(246)


(149)

Share of post-tax results of associates and joint ventures

1


1


Profit before tax

100


40


60 

 





 

Balance Sheet Information





 

Loans and advances to customers



£5.1bn


£3.4bn 

Customer accounts



£6.2bn


£4.8bn 

Total assets



£9.2bn


£6.3bn 

 





 

Performance Ratios





 

Return on average economic capital

15%


7%


27% 

Cost:income ratio1

74%


79%


67% 

Cost:net income ratio2

80%


86%


71% 

 






Other Financial Measures






Risk Tendency



£140m


£50m 

Economic profit



£(3m)


£29m 

Risk weighted assets (Basel I)



£6.1bn


£4.0bn 

Risk weighted assets (Basel II)



£10.2bn


-






 

Staff Numbers



11,800


9,600 
















1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.    

  Barclays Capital




Half-year ended


2007


    31.12.07


    30.06.07


£m


£m


£m

Net interest income   

1,179


612


567 

Net fee and commission income

1,235


621


614 

Net trading income

3,739


978


2,761 

Net investment income

953


747


206 

Principal transactions

4,692


1,725


2,967 

Other income

13


8


Total income

7,119


2,966


4,153 

Impairment charges and other credit provisions

(846)


(836)


(10)

Net income

6,273


2,130


4,143 

Operating expenses excluding amortisation of intangible assets

(3,919)


(1,466)


(2,453)

Amortisation of intangible assets

(54)


(24)


(30)

Operating expenses 

(3,973)


(1,490)


(2,483)

Share of post-tax results of associates and joint ventures

35


35


Profit before tax

2,335


675


1,660 

 






Balance Sheet Information





 

Total assets



£839.9bn


£796.4bn 

 





 

Performance Ratios





 

Return on average economic capital

33%


17%


54% 

Cost:income ratio1

56%


50%


60% 

Cost:net income ratio2

63%


70%


60% 

 





 

Other Financial Measures





 

Risk Tendency



£140m


£110m 

Economic profit



£203m


£969m 

Risk weighted assets (Basel I)



£169.1bn


£152.5bn 

Risk weighted assets (Basel II)



£173.0bn


-

Average DVaR



£42.0m


£39.3m 

Average net income generated per member of staff ('000)



£137


£329







Staff Numbers



16,200


15,700 















1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Barclays Global Investors




Half-year ended


2007


    31.12.07


    30.06.07


£m


£m


£m

Net interest (expense)/income

(8)


(6)


(2)

Net fee and commission income

1,936


996


940 

Net trading income

5


4


Net investment income

(9)


(12)


Principal transactions

(4)


(8)


Other Income

2


1


Total income

1,926


983


943 

Operating expenses excluding amortisation of intangible assets

(1,184)


(633)


(551)

Amortisation of intangible assets

(8)


(4)


(4)

Operating expenses

(1,192)


(637)


(555)

Profit before tax

734


346


388 







Balance Sheet Information






Total assets



£89.2bn


£90.4bn 






 

Performance Ratios






Return on average economic capital

241%


244%


238% 

Cost:income ratio

62%


65%


59% 






 

Other Financial Measures






Economic profit



£220m


£210m 

Risk weighted assets (Basel I)



£2.0bn


£1.6bn 

Risk weighted assets (Basel II)



£4.3bn


Average income generated per member of staff ('000)



£306


£325







Staff Numbers



3,400


3,100






















1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.

  Barclays Wealth




Half-year ended


2007


    31.12.07


    30.06.07


£m


£m


£m

Net interest income   

431


226


205 

Net fee and commission income

739


380


359 

Net trading income

3


(4)


Net investment income

52


(7)


59 

Principal transactions

55


(11)


66 

Net premiums from insurance contracts

195


95


100 

Other income

19


10


Total income

1,439


700


739 

Net claims and benefits incurred under insurance contracts

(152)


(48)


(104)

Total income net of insurance claims

1,287


652


635 

Impairment charges 

(7)


(5)


(2)

Net income

1,280


647


633 

Operating expenses excluding amortisation of intangible assets

(967)


(509)


(458)

Amortisation of intangible assets

(6)


(4)


(2)

Operating expenses 

(973)


(513)


(460)

Profit before tax

307


134


173 

 






Balance Sheet Information





 

Loans and advances to customers



£9.0bn


£7.1bn 

Customer accounts



£34.4bn


£30.9bn 

Total assets



£18.2bn


£16.7bn 

 





 

Performance Ratios





 

Return on average economic capital

51%


47%


56% 

Cost:income ratio1

76%


79%


72% 

 





 

Other Financial Measures





 

Risk Tendency



£10m


£10m 

Economic profit



£119m


£114m 

Risk weighted assets (Basel I)



£7.7bn


£6.9bn 

Risk weighted assets (Basel II)



£8.0bn


Average income generated per member of staff



£94


£94 

 





 

Staff Numbers



6,900


6,900 












1    The cost:income ratio is defined as operating expenses compared to total income net of insurance claims.

2    The cost:net income ratio is defined as operating expenses compared to total income net of insurance claims, less impairment charges.


  Head Office Functions and Other Operations    




Half-year ended


2007


    31.12.07


    30.06.07


£m


£m


£m

Net interest income

128


123


5

Net fee and commission expense

(424)


(230)


(194)

Net trading loss

(66)


(86)


20 

Net investment expense

(17)


(18)


Principal transactions

(83)


(104)


21 

Net premiums from insurance contracts

152


80


72 

Other income

35


19


16 

Total income

(192)


(112)


(80)

Impairment charges

(3)


8


(11)

Net loss

(195)


(104)


(91)

Operating expenses excluding amortisation of intangible assets

(233)


(121)


(112)

Amortisation of intangible assets

(1)


3


(4)

Operating expenses

(234)


(118)


(116)

Profit on disposal of associates and joint ventures

1


1


Loss before tax

(428)


(221)


(207)







Balance Sheet Information






Total assets



£5.7bn


£5.4bn 






 

Performance Ratios






Risk Tendency



£10m


£5m 

Risk weighted assets (Basel I)



£1.6bn


£1.5bn 

Risk weighted assets (Basel II)



£1.1bn








Staff Numbers



1,100


1,200 



  Restated Total Assets




As at


    31.12.07


    30.06.07


    31.12.06


£m


£m


£m

UK Retail Banking 

88,477


84,267


81,693 

Barclays Commercial Bank

74,566


69,830


66,224 

Barclaycard

22,121


20,362


20,033 

GRCB - Absa

36,368


31,908


29,590 

GRCB - Western Europe

43,702


36,724


33,487 

GRCB - Emerging Markets

9,188


6,323


5,219 

Barclays Capital

839,850


796,389


657,922 

Barclays Global Investors

89,218


90,440


80,515 

Barclays Wealth

18,188


16,663


15,022 

Head office functions and other operations

5,683


5,356


7,082 

Total assets

1,227,361


1,158,262


996,787 


  Restated Risk Weighted Assets (Basel I)




As at


    31.12.07


    30.06.07


    31.12.06


£m


£m


£m

UK Retail Banking 

46,059


42,498


43,020

Barclays Commercial Bank

54,325


51,106


50,302

Barclaycard

19,690


16,898


16,873

GRCB - Absa

22,448


20,692


19,809

GRCB - Western Europe

24,462


20,370


17,567

GRCB - Emerging Markets

6,050


4,049


3,255

Barclays Capital

169,124


152,467


137,635

Barclays Global Investors

1,994


1,616


1,375

Barclays Wealth

7,692


6,871


6,077

Head office functions and other operations

1,632


1,476


1,920

Profit before tax

353,476


318,043


297,833



Restated Risk Weighted Assets (Basel II)




As at


    31.12.07


    30.06.07


    31.12.06


£m


£m


£m

UK Retail Banking 

30,540


-


-

Barclays Commercial Bank

62,056


-


-

Barclaycard

22,457


-


-

GRCB - Absa

17,213


-


-

GRCB - Western Europe

25,084


-


-

GRCB - Emerging Markets

10,176


-


-

Barclays Capital

172,974


-


-

Barclays Global Investors

4,266


-


-

Barclays Wealth

8,011


-


-

Head office functions and other operations

1,101


-


-

Profit before tax

353,878


-


-

  Restated Business Margins




Half-year


Half-year




Full-year


ended


ended


Full-year


31.12.07


31.12.07


30.06.07


31.12.06

 

%


%


%


%

UK Retail Banking assets

1.20


1.19


1.20


1.32

UK Retail Banking liabilities

2.15


2.16


2.15


2.05

Barclays Commercial Bank assets

1.80


1.75


1.85


1.92

Barclays Commercial Bank liabilities

1.49


1.49


1.50


1.46

Barclaycard assets

6.51


6.27


6.77


7.05

GRCB - ABSA assets

2.70


2.70


2.72


2.81

GRCB - ABSA liabilities

3.21


3.49


2.90


2.87

GRCB - Western Europe assets

1.13


1.13


1.13


1.11

GRCB - Western Europe liabilities

1.64


1.56


1.72


1.70

GRCB - Emerging Markets assets

6.62


6.56


6.67


8.46

GRCB - Emerging Markets liabilities

0.75


0.63


0.91


0.93

Barclays Wealth assets

1.11


1.10


1.12


1.08

Barclays Wealth liabilities

1.03


0.98


1.08


1.10













Restated Average Balances




Half-year


Half-year




Full-year


ended


ended


Full-year


    31.12.07


    31.12.07


    30.06.07


    31.12.06


£m


£m


£m


£m

UK Retail Banking assets

78,502


80,228


76,747


73,593

UK Retail Banking liabilities

81,848


83,456


80,213


76,498

Barclays Commercial Bank assets

53,947


55,232


52,661


52,330

Barclays Commercial Bank liabilities

46,367


46,245


46,489


44,839

Barclaycard assets

18,976


19,372


18,579


17,728

GRCB - Absa assets

25,333


26,583


24,062


23,720

GRCB - Absa liabilities

11,511


11,911


11,106


10,897

GRCB - Western Europe assets

30,145


31,766


28,498


24,812

GRCB - Western Europe liabilities

7,489


7,691


7,284


6,404

GRCB - Emerging Markets assets

3,559


4,164


2,953


2,258

GRCB - Emerging Markets liabilities

5,115


5,686


4,544


4,018

Barclays Wealth assets

7,403


8,332


6,458


5,543

Barclays Wealth liabilities

31,151


33,130


29,140


27,744


  Restated business net interest income 




Half-year


Half-year




Full-year


ended


ended


Full-year


    31.12.07


    31.12.07


    30.06.07


    31.12.06


£m


£m


£m


£m

UK Retail Banking assets

939


483


456


970

UK Retail Banking liabilities

1,763


909


854


1,566

Barclays Commercial Bank assets

970


486


484


1,005

Barclays Commercial Bank liabilities

693


348


345


655

Barclaycard assets

1,236


612


624


1,248

GRCB - Absa assets

686


362


324


664

GRCB - Absa liabilities

369


209


160


313

GRCB - Western Europe assets

341


181


160


274

GRCB - Western Europe liabilities

123


61


62


109

GRCB - Emerging Markets assets

235


137


98


214

GRCB - Emerging Markets liabilities

39


19


20


37

Barclays Wealth assets

82


46


36


60

Barclays Wealth liabilities

320


164


156


306

Business net interest income

7,796


4,017


3,779


7,421



Restated reconciliation of business net interest income to Group net interest income





Half-year


Half-year




Full-year


ended


ended


Full-year


    31.12.07


    31.12.07


    30.06.07


    31.12.06


£m


£m


£m


£m

Business net interest income

7,796


4,017


3,779


7,421

Other:








- Barclays Capital

1,179


612


567


1,158

- Barclays Global Investors

(8)


(6)


(2)


10

- Other

643


398


245


554

Group net interest income

9,610


5,021


4,589


9,143



Business net interest income is derived from the interest rate earned on average assets or paid on average liabilities relative to the average Bank of England base rate, local equivalents for international businesses or the rate managed by the bank using derivatives. The margin is expressed as annualised business interest income over the relevant average balance. Asset and liability margins cannot be added together as they are relative to the average Bank of England base rate, local equivalent for international businesses or the rate managed by the bank using derivatives.


Average balances are calculated on daily averages for most UK banking operations and monthly averages elsewhere. 


Within the reconciliation of Group net interest income, there is an amount captured as Other. This relates to: benefit of capital, including the restatement of Reserve Capital Instruments and other capital instruments; Head office functions and other operations; net funding on non customer assets and liabilities.






  

Restated Risk Tendency


Full-year


Half-year


Full-year


    31.12.07


    30.06.07


    31.12.06


£m


£m


£m

UK Retail Banking 

470


580


500

Barclays Commercial Bank

305


290


300

Barclaycard

955


975


1,090

GRCB - Absa

190


185


130

GRCB - Western Europe

135


105


90

GRCB - Emerging Markets

140


50


35

Barclays Capital

140


110


95

Barclays Wealth

10


10


10

Head office functions and other operations1

10


5


10

Risk Tendency

2,355


2,310


2,260








































1    Includes businesses in transition.

  

Restated economic capital demand1


Full-year


Half-year


Full-year


    31.12.07


    30.06.07


    31.12.06

 

£m


£m


£m

UK Retail Banking 

3,400


3,400


3,300

Barclays Commercial Bank

3,200


3,150


2,750

Barclaycard

2,050


2,000


1,850

GRCB - Absa

900


900


700

GRCB - Western Europe

1,250


1,100


950

GRCB - Emerging Markets

450


300


350

Barclays Capital

5,200


4,400


3,750

Barclays Global Investors

200


200


150

Barclays Wealth

500


500


400

Head office functions and other operations2

250


250


300

Economic capital requirement (excluding goodwill)

17,400


16,200


14,500

Average historic goodwill and intangible assets3

8,400


8,100


7,750

Total economic capital requirement4

25,800


24,300


22,250



































1    Calculated using a five point average over the year and rounded to the nearest £50m for presentation purposes.

2    Includes Transition Businesses and capital for central functional risks.

3    Average goodwill relates to purchased goodwill and intangible assets from business acquisitions. 

4    Total period end economic capital requirement as at 31st December 2007 was £29,650m (31st December 2006: £23,350m). 

  Restated economic profit generated by business


Full-year


Half-year


Full-year


    31.12.07


    30.06.07


    31.12.06

 

£m


£m


£m

UK Retail Banking 

617 


311 


590 

Barclays Commercial Bank

635 


332 


729 

Barclaycard

213 


115 


183 

GRCB - Absa

98 


39 


138 

GRCB - Western Europe

16 


14 


GRCB - Emerging Markets

26 


29 


308 

Barclays Capital

1,172 


969 


1,181 

Barclays Global Investors

430 


210 


376 

Barclays Wealth

233 


114 


130 

Head office functions and other operations

(470)


(185)


(315)


2,970 


1,948 


3,329 

Historic goodwill

(800)


(387)


(739)

Variance to average shareholders' funds 

 


 


 

(excluding minority interest)

120 


48 


114 

Economic profit

2,290 


1,609 


2,704 






  Restated staff numbers


Full-year


Half-year


Full-year


    31.12.07


    30.06.07


    31.12.06

UK Retail Banking 

32,800


33,900


34,500

Barclays Commercial Bank*

9,200


7,900


8,100

Barclaycard

8,900


8,700


9,100

GRCB - Absa

35,800


33,100


33,000

GRCB - Western Europe

8,800


7,600


6,600

GRCB - Emerging Markets

11,800


9,600


7,600

Barclays Capital

16,200


15,700


13,200

Barclays Global Investors

3,400


3,100


2,700

Barclays Wealth

6,900


6,900


6,600

Head office functions and other operations

1,100


1,200


1,200

Total Group permanent and fixed term contract staff worldwide

134,900


127,700


122,600




*In the second half of 2007 certain operations personnel were transferred from UK Retail Banking to Barclays Commercial Bank. The Staff numbers above for Barclays Commercial Bank as at 30th June 2007 and 31st December 2006 as such do not include 1,200 and 900 such personnel respectively which at those points were included within UK Retail Banking.













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