Half-year Financial Report

Summary by AI ^BETAClose X

Barclays PLC reported a strong first half of 2026, with a return on tangible equity (RoTE) of 14.8% and earnings per share of 30.7p, up from 24.7p in the prior year. The bank announced total capital distributions of £2.3bn, including a £1.0bn share buyback and a dividend of 5.9p per share, a significant increase from the previous year's 3.0p. Group income rose 11% year-on-year to £16.5bn, with the Investment Bank showing a 20% income increase driven by Global Markets and Investment Banking fees. The company has also upgraded its 2026 Group income target to approximately £31.5bn. Barclays maintained a robust Common Equity Tier 1 ratio of 14.3%, exceeding its target range.

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Barclays (BARC)

UK 100

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Results Announcement	Page

Notes	1

Performance Highlights	2

Group Finance Director's Review	5

Results by Business

• Barclays UK	7

• Barclays UK Corporate Bank	9

• Barclays Private Bank and Wealth Management	10

• Barclays Investment Bank	11

• Barclays US Consumer Bank	13

• Head Office	15

Quarterly Results Summary	16

Quarterly Results by Business	17

Performance Management

• Margins and Balances	24

Risk Management

• Risk Management and Principal Risks	26

• Credit Risk	27

• Market Risk	48

• Treasury and Capital Risk	49

Statement of Directors' Responsibilities	59

Independent Review Report to Barclays PLC	60

Condensed Consolidated Financial Statements	62

Financial Statement Notes	68

Appendix: Non-IFRS Performance Measures	88

Shareholder Information	97

●	H126 Group RoTE of 14.8% (H125: 13.2%) and Q226 Group RoTE of 16.1% (Q225: 12.3%)
	-	All divisions delivered double-digit RoTE for H126 and Q226
●	H126 EPS of 30.7p (H125: 24.7p) and Q226 EPS of 16.7p (Q225: 11.7p)
●	2026 Group income target increased to c.£31.5bn (from c.£31bn)
	-	2026 Group net interest income (NII) excluding Barclays Investment Bank and Head Office increased to greater than £13.7bn (from greater than £13.5bn)
●	Strong CET1 ratio of 14.3% and announced intention to initiate a share buyback of up to £1.0bn for Q226, and a dividend of 5.9p per share for H126 (H125: 3.0p)
●	5% growth in UK lending balances year-on-year in H126
	-	Delivered £25bn of c.£30bn planned UK risk weighted assets (RWAs) growth since 2024¹ (£3bn in Q226), of which £18bn was organic growth

	Income	Profit before tax	Attributable profit	Cost: income ratio	LLR	RoTE	EPS	TNAV per share	CET1 ratio	Total capital return²
Q226	£8.3bn	£3.3bn	£2.3bn	54%	51bps	16.1%	16.7p	423p	14.3%	£2.3bn
H126	£16.5bn	£6.1bn	£4.2bn	55%	62bps	14.8%	30.7p	423p	14.3%	£2.3bn

●	Group RoTE was 16.1% (Q225: 12.3%) with profit before tax of £3.3bn (Q225: £2.5bn)
●	Group income of £8.3bn increased 16% year-on-year. Group NII excluding IB and Head Office was £3.4bn, up 10% year-on-year
	-	Barclays UK income increased 7%, as higher structural hedge income was partially offset by retail deposit dynamics and mortgage margin compression
	-	Barclays UK Corporate Bank (UKCB) income increased 8%, reflecting higher average deposit and lending balances, and higher structural hedge income
	-	Barclays Private Bank and Wealth Management (PBWM) income increased 5%, reflecting growth in client balances, partially offset by the impact of deposit mix
	-	Barclays Investment Bank (IB) income increased 20%, driven by Global Markets and Investment Banking fees
	-	Barclays US Consumer Bank (USCB) income increased 38%, driven by portfolio changes including a c.£225m gain from the sale of the American Airlines co-branded credit cards portfolio (AA portfolio) and the impact of the Best Egg Inc. (Best Egg) acquisition
●	Group total operating expenses were £4.5bn, up 7% year-on-year
	-	Group operating costs increased to £4.5bn (Q225: £4.1bn), reflecting business growth (including higher performance costs), inflation and further investment spend (including the Best Egg acquisition), partially offset by c.£200m of cost efficiency savings
●	Credit impairment charges were £0.6bn (Q225: £0.5bn) with an LLR of 51bps (Q225: 44bps)

●	Group RoTE was 14.8% (H125: 13.2%) with profit before tax of £6.1bn (H125: £5.2bn)
●	Group income of £16.5bn increased 11% year-on-year. Group NII excluding IB and Head Office was £6.8bn, up 11% year-on-year
●	Group total operating expenses were £9.1bn, up 6% year-on-year
	-	Group operating costs increased 6% to £8.9bn, reflecting business growth (including higher performance costs), inflation, and further investment spend (including the Best Egg acquisition), partially offset by c.£350m of cost efficiency savings and FX movements
	-	Litigation and conduct charges of £0.1bn primarily reflected an increase in the provision for the UK Financial Conduct Authority (FCA) motor finance redress scheme in Q126
●	Credit impairment charges were £1.4bn (H125: £1.1bn) with an LLR of 62bps (H125: 52bps), including a £0.2bn single name charge in the IB in Q126
●	Strong balance sheet with CET1 ratio of 14.3% (December 2025: 14.3%), with RWAs of £364.8bn (December 2025: £356.8bn)
	-	Taking into account the impact of the £1.0bn share buyback announced today, the CET1 ratio as of 30 June 2026 would be reduced to 14.0%, at the top-end of the 13-14% range
●	Tangible net asset value (TNAV) per share of 423p (December 2025: 409p)

1	Represents RWAs from business growth in Barclays UK, UK Corporate Bank and Private Bank and Wealth Management since January 2024, excluding the effects of securitisations, model updates and other methodological changes. Also excludes additional Operational Risk RWAs related to organic growth.
2	H126 total capital return: includes the £500m buyback announced at Q126 Results in addition to the £1.0bn buyback and c.£0.8bn dividend announced at H126 Results.

●	Returns: Group RoTE of greater than 12%
●	Capital returns²: plan to return at least £10bn of capital to shareholders between 2024 and 2026, through dividends and share buybacks, with a continued preference for buybacks
	-			Progressive increase in total capital returns versus 2025
	-			Share buybacks announced quarterly
	-			Dividends to be paid semi-annually, including planned £2bn dividend for 2026
●	Income: Group total income of c.£31.5bn
	-			Group NII excluding IB and Head Office greater than £13.7bn and Barclays UK NII around the middle of the £8.1bn - £8.3bn guided range
●	Costs: Group cost: income ratio of high 50s in percentage terms
●	Impairment: expect Group LLR to be around the top of the 50-60bps through the cycle range
●	Capital: CET1 ratio target range of 13-14%
	-			IB RWAs mid 50s% of Group RWAs
	-			Impact of regulatory change on RWAs in line with our prior guidance of c.£19-26bn
			-	c.£8-15bn RWAs from Basel 3.1, with implementation expected from 1 January 2027³
		-		c.£11bn RWAs from USCB moving to an Internal Ratings Based (IRB) model, subject to portfolio changes and regulatory approval, expected in H2 2027
	-			Expect Pillar 2A capital to reduce upon implementation of Basel 3.1 and USCB IRB

●	Returns: Group RoTE of greater than 14%
●	Capital returns²: plan to return greater than £15bn of capital to shareholders between 2026 and 2028, through dividends and share buybacks. This provides capacity for additional investment and growth, exceeding the level of investment in the current plan
●	Income: greater than 5% compound annual growth rate (CAGR) 2025-2028
●	Costs: Group cost: income ratio of low 50s in percentage terms. Cost target includes total gross efficiency savings of greater than £2bn in 2026-2028
●	Impairment: expect Group LLR of 50-60bps through the cycle
●	Capital: CET1 ratio target range of 13-14%
	-	IB RWAs of c.50% of Group RWAs

1	Our targets and guidance are based on management's current expectations as to the macroeconomic environment and the business and may be subject to change.
2	This multi-year plan is subject to supervisory and Board approvals, anticipated financial performance and our published CET1 ratio target range of 13-14%.
3	Fundamental review of the trading book (FRTB) impact mostly expected in 2027.

Barclays Group results	Half year ended			Three months ended
	30.06.26	30.06.25		30.06.26	30.06.25
	£m	£m	% Change	£m	£m	% Change
Barclays UK	4,517	4,193	8	2,259	2,119	7
Barclays UK Corporate Bank	1,088	1,003	8	558	519	8
Barclays Private Bank and Wealth Management	713	697	2	366	348	5
Barclays Investment Bank	7,986	7,180	11	3,958	3,307	20
Barclays US Consumer Bank	2,119	1,687	26	1,136	823	38
Head Office	78	136	(43)	61	71	(14)
Total income	16,501	14,896	11	8,338	7,187	16
Operating costs	(8,873)	(8,407)	(6)	(4,514)	(4,149)	(9)
UK regulatory levies	(84)	(96)	13	-	-
Litigation and conduct	(108)	(87)	(24)	(4)	(76)	95
Total operating expenses	(9,065)	(8,590)	(6)	(4,518)	(4,225)	(7)
Other net income/(expense)	24	9		3	(9)
Profit before impairment	7,460	6,315	18	3,823	2,953	29
Credit impairment charges	(1,394)	(1,112)	(25)	(571)	(469)	(22)
Profit before tax	6,066	5,203	17	3,252	2,484	31
Tax charge	(1,369)	(1,173)	(17)	(731)	(552)	(32)
Profit after tax	4,697	4,030	17	2,521	1,932	30
Non-controlling interests	(19)	(23)	17	(19)	(21)	10
Other equity instrument holders	(487)	(484)	(1)	(243)	(252)	4
Attributable profit	4,191	3,523	19	2,259	1,659	36

Performance measures
Return on average tangible shareholders' equity	14.8%	13.2%		16.1%	12.3%
Average tangible shareholders' equity (£bn)	56.7	53.5		56.1	53.9
Cost: income ratio	55%	58%		54%	59%
Loan loss rate (bps)	62	52		51	44
Basic earnings per ordinary share	30.7p	24.7p	24	16.7p	11.7p	43
Dividend per ordinary share	5.9p	3.0p	97
Share buybacks announced (£m)	1,500	1,000	50	1,000	1,000	-
Total payout equivalent per share	c.16.9p	c.10.1p	69
Basic weighted average number of shares (m)	13,645	14,262	(4)	13,565	14,211	(5)
Period end number of shares (m)	13,507	14,180	(5)
Period end tangible shareholders' equity (£bn)	57.2	54.5

	As at 30.06.26	As at 31.12.25	As at 30.06.25
Balance sheet and capital management¹	£bn	£bn	£bn
Loans and advances at amortised cost	444.8	430.0	417.8
Loans and advances at amortised cost impairment coverage ratio	1.2%	1.2%	1.2%
Total assets	1,730.4	1,544.2	1,598.7
Deposits at amortised cost	594.4	585.6	564.5
Tangible net asset value per share	423p	409p	384p
Common equity tier 1 ratio	14.3%	14.3%	14.0%
Common equity tier 1 capital	52.2	51.1	49.5
Risk weighted assets	364.8	356.8	353.0
UK leverage ratio	4.9%	5.1%	5.0%
UK leverage exposure	1,345.6	1,247.3	1,259.8

Funding and liquidity
Group liquidity pool (£bn)	346.7	337.8	333.7
Liquidity coverage ratio²	157.7%	170.0%	177.7%
Net stable funding ratio³	135.8%	135.2%	135.6%
Loan: deposit ratio	75%	73%	74%

1	Refer to pages 54 to 58 for further information on how capital, RWAs and leverage are calculated.
2	Represents average of the last 12 spot month end ratios.
3	Represents average of the last four spot quarter end positions.

●	Barclays delivered a profit before tax of £6,066m (H125: £5,203m), RoTE of 14.8% (H125: 13.2%) and EPS of 30.7p (H125: 24.7p)
●	The Group has a diverse income profile across businesses and geographies. The 4% year-on-year appreciation of average GBP against USD negatively impacted income and profits, and positively impacted credit impairment charges and total operating expenses
●	Group income increased 11% to £16,501m, due to higher income in Global Markets and Investment Banking fees, higher structural hedge income and the c.£225m gain from the sale of the AA portfolio
●	Group total operating expenses increased to £9,065m (H125: £8,590m)
	-	Group operating costs increased 6% to £8,873m, reflecting business growth (including higher performance costs), inflation, and further investment spend (including the Best Egg acquisition), partially offset by c.£350m of cost efficiency savings and FX movements
	-	Litigation and conduct charges of £108m primarily reflected a £105m increase in the provision for the FCA motor finance redress scheme in Q126
●	Credit impairment charges increased to £1,394m (H125: £1,112m), primarily driven by a single name charge of £228m in IB in Q126. Total coverage ratio remained stable at 1.2% (December 2025: 1.2%)
●	The effective tax rate (ETR) was 22.6% (H125: 22.5%)
●	Attributable profit was £4,191m (H125: £3,523m)
●	Total assets increased to £1,730.4bn (December 2025: £1,544.2bn) driven by higher trading activity in IB, growth in the liquidity pool and higher lending across the Group
●	TNAV per share increased to 423p (December 2025: 409p) as EPS of 30.7p was partially offset by a 6p negative movement in the cash flow hedging reserve, a 6p reduction from FY25 dividends paid in Q126, and a 6p reduction from share awards vesting in Q126

●	The CET1 ratio remained stable at 14.3% (December 2025: 14.3%). Taking into account the impact of the £1.0bn share buyback announced today, the CET1 ratio as of 30 June 2026 would be reduced to 14.0% (at the top end of the 13-14% target range)
●	Q226 USCB sale of the AA portfolio and acquisition of Best Egg resulted in a marginal increase in the CET1 ratio with a net release of £3.2bn RWAs partially offset by a £0.2bn decrease in CET1 capital, reflecting the c.£225m gain on sale of the AA portfolio offset by £0.5bn of goodwill and intangibles from the Best Egg acquisition. Excluding the impacts of these changes, other movements were:
	-	108bps increase from attributable profit
	-	68bps decrease driven by shareholder distributions including the now completed £1.5bn total share buybacks announced with FY25 and Q126 results, and the accrual for the total 2026 dividend
	-	40bps decrease due to a £9.8bn increase in RWAs, excluding the impact of foreign exchange movements, primarily driven by lending growth in UK businesses and higher activity in Global Markets
	-	A £0.2bn increase in CET1 capital due to an increase in the currency translation reserve was offset by a £1.3bn increase in RWAs as a result of foreign exchange movements
	-	108bps increase from attributable profit
●	The UK leverage ratio decreased to 4.9% (December 2025: 5.1%) as leverage exposure increased by £98.3bn to £1,345.6bn (December 2025: £1,247.3bn). The increase in leverage exposure was primarily driven by higher trading activity in IB

●	The liquidity metrics remain 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 £346.7bn, an increase of £8.9bn from December 2025. The increase in the liquidity pool was primarily driven by deposit growth across businesses and increased term wholesale funding.
●	The average¹ LCR was 157.7% (December 2025: 170.0%), equivalent to a surplus of £117.2bn (December 2025: £131.2bn)
●	Total deposits increased to £594.4bn (December 2025: £585.6bn), primarily driven by deposit growth in the International Corporate Bank (ICB)
●	The average² Net Stable Funding Ratio (NSFR) was 135.8% (December 2025: 135.2%), which represents a £171.7bn surplus (December 2025: £166.3bn) above the 100% regulatory requirement

1	Average loan to value (LTV) of mortgages is balance weighted and reflects both residential and buy-to-let (BTL) mortgage portfolios within the Home Loans portfolio.
2	Excludes Tesco Bank

1	Refer to page 88 for further information on net new assets under management, assets under management and assets under supervision.
2	Invested assets (held off-balance sheet) represent assets under management and supervision. Uninvested cash held under an investment mandate and reported within deposits is excluded from invested assets.
3	Client assets and liabilities refers to deposits, lending and invested assets

	Half year ended			Three months ended
	30.06.26	30.06.25		30.06.26	30.06.25
Analysis of total income	£m	£m	% Change	£m	£m	% Change
FICC	3,187	3,149	1	1,471	1,450	1
Equities	2,377	1,833	30	1,261	870	45
Global Markets	5,564	4,982	12	2,732	2,320	18
Advisory	443	266	67	188	123	53
Equity capital markets	249	151	65	157	81	94
Debt capital markets	809	795	2	402	364	10
Banking fees and underwriting	1,501	1,212	24	747	568	32
Corporate lending	53	152	(65)	37	(4)
Transaction banking	868	834	4	442	423	4
International Corporate Bank	921	986	(7)	479	419	14
Investment Banking	2,422	2,198	10	1,226	987	24
Total income	7,986	7,180	11	3,958	3,307	20

●	Motor finance commission arrangements: In March 2026, the FCA published its final rules for an industry-wide redress scheme for eligible motor finance customers where a commission was payable by the lender to the broker. Barclays increased its provision in Q126 by £105m to reflect the expected financial impact of the redress scheme. Barclays holds a Motor Finance provision of £430m as at 30 June 2026. Barclays decided not to challenge the FCA's final rules in the interests of enabling a swift resolution for customers. However, Barclays strongly disagrees with aspects of the rules which require financial redress even where customers suffered no demonstrable financial harm. On 2 July 2026, the Upper Tribunal ordered a suspension of parts of the redress scheme following four legal challenges to the FCA's final rules. The legal challenges are expected to be heard by the Upper Tribunal in Q426 or Q127. Such challenges will delay and may otherwise affect the implementation of the redress scheme. The legal and regulatory outcomes and the nature, extent and timing of any remediation action, therefore remain uncertain
●	USCB changes in Q226:
	-	American Airlines co-branded credit card portfolio exit: On 24 April 2026 Barclays exited its American Airlines co-branded credit card partnership, releasing £3.6bn of RWAs and generating a gain on sale of c.£225m
	-	Best Egg acquisition: On 1 May 2026, Barclays completed the acquisition of Best Egg for c.£0.6bn subject to customary post-completion purchase price adjustments. Best Egg is a leading US direct-to-consumer personal loan origination platform focused on prime borrowers. Barclays has acquired c.£0.3bn of financial assets and c.£0.2bn of financial liabilities
	-	The effect of both transactions is a marginal increase to the Group's CET1 ratio in Q226, with a net release of RWAs of £3.2bn and the c.£225m gain on sale from the AA portfolio exit, partially offset by a c.£0.5bn increase in goodwill and intangibles from the Best Egg acquisition
●	GoHenry acquisition: On 12 June 2026, Barclays announced that Barclays Bank UK PLC had entered into an agreement to acquire GoHenry, a money management platform for children and young people in the UK. Completion of the transaction is expected to occur in Q426, subject to regulatory approvals and other conditions. The transaction is expected to marginally reduce the Group's CET1 ratio
●	One Churchill Place: On 30 June 2026 Barclays announced it had acquired a 999-year leasehold interest in its global headquarters at One Churchill Place, London. The transaction secures Barclays' control in its global headquarters beyond the current lease term, due to expire in 2039, while providing greater certainty over long-term occupancy costs. The transaction values the acquired leasehold interest at £750m and is broadly neutral to the Group's CET1 ratio and earnings

Analysis of Barclays UK	Half year ended			Three months ended
Analysis of Barclays UK	30.06.26	30.06.25		30.06.26	30.06.25
Analysis of total income	£m	£m	% Change	£m	£m	% Change
Retail Banking	3,436	3,172	8	1,711	1,599	7
Business Banking	1,081	1,021	6	548	520	5
Total income	4,517	4,193	8	2,259	2,119	7

Analysis of credit impairment (charges)/releases
Retail Banking	(344)	(204)	(69)	(165)	(59)
Business Banking	6	(33)		5	(20)
Total credit impairment charges	(338)	(237)	(43)	(160)	(79)

	As at 30.06.26	As at 31.12.25	As at 30.06.25
Analysis of loans and advances to customers at amortised cost	£bn	£bn	£bn
Retail Banking	203.1	198.6	192.4
Business Banking	17.7	17.9	18.8
Total loans and advances to customers at amortised cost	220.8	216.5	211.2

Analysis of customer deposits at amortised cost
Retail Banking	194.5	192.7	189.3
Business Banking	51.1	51.9	52.0
Total customer deposits at amortised cost	245.6	244.6	241.3

●	Profit before tax increased 10% to £1,767m
●	Total income increased 8% to £4,517m. NII increased 8% to £3,986m, as higher structural hedge income was partially offset by retail deposit dynamics and mortgage margin compression. Net fee, commission and other income increased 3% to £531m
●	Total operating expenses increased 2% to £2,412m, driven by higher investments and inflation. Ongoing efficiency savings continue to be reinvested, to drive sustainable improvement to the cost: income ratio
●	Credit impairment charges were £338m (H125: £237m), reflecting stable underlying credit performance. Total charges are higher than those in H125, which benefitted from a recalibration adjustment in the Retail credit cards portfolio to reflect resilient customer behaviour. Retail credit cards 30 and 90 day arrears rates were 0.9% (H125: 0.7%) and 0.3% (H125: 0.2%) respectively. The Retail credit cards total coverage ratio increased to 4.5% (December 2025: 4.3%)

●	Loans and advances to customers at amortised cost increased £4.3bn to £220.8bn, primarily driven by growth in mortgages, partially offset by the impact of securitisations
●	Customer deposits at amortised cost increased by £1.0bn to £245.6bn, driven by an increase in Retail Banking deposits. The loan: deposit ratio remained broadly stable at 97% (December 2025: 94%)
●	RWAs increased to £89.0bn (December 2025: £85.8bn), primarily due to growth in mortgages, partially offset by the securitisation of credit risk assets

●	Profit before tax increased 30% to £566m
●	Total income increased 8% to £1,088m, NII increased 15% to £807m, driven by higher average deposit and lending balances, and structural hedge income benefit. Net fee, commission and other income decreased 7% to £281m driven by lower liquidity pool income
●	Total operating expenses decreased 6% to £503m, reflecting the non-repeat of prior year litigation and conduct charges. Operating costs increased 3% to £488m, reflecting higher investment spend to support business growth strategy, with ongoing efficiency savings offsetting inflationary headwinds
●	Credit impairment charges were £19m (H125: £31m), reflecting stable underlying credit performance and limited single name charges

●	Loans and advances to customers at amortised cost increased to £31.3bn (December 2025: £30.0bn), reflecting the strategic focus to grow lending
●	Deposits at amortised cost increased to £89.1bn (December 2025: £88.7bn), driven by an inflow of balances from new and existing clients
●	RWAs were stable at £26.6bn (December 2025: £26.5bn)

●	Profit before tax decreased 21% to £186m
●	Total income increased 2% to £713m, driven by growth in client balances, partially offset by the impact of deposit mix
●	Total operating expenses increased 11% to £524m, reflecting ongoing investment to support business growth strategy and inflationary headwinds, partially offset by efficiency savings

●	Client assets and liabilities increased £2.6bn to £230.2bn, driven by higher invested assets due to market movements and net new inflow of deposit balances
●	RWAs were stable at £8.0bn (December 2025: £8.0bn)

●	Profit before tax increased to £3,337m (H125: £3,010m)
●	IB has a diverse income profile across businesses and geographies. The 4% appreciation of average GBP against USD adversely impacted income and profits, and positively impacted credit impairment charges and total operating expenses
●	Total income increased 11% to £7,986m, including the adverse impact of strengthening average GBP against USD
	-	Global Markets income increased 12% to £5,564m, driven by increased income in Equities and Credit
		-	FICC income was stable at £3,187m (H125: £3,149m), despite strong prior year performance, as we continued to provide support to clients through a range of environments
		-	Equities income increased 30% to £2,377m, reflecting growth in Prime Financing balances, and Equity Derivatives
	-	Investment Banking income increased 10% to £2,422m
		-	Banking fees and underwriting income increased 24% to £1,501m, primarily driven by Advisory and Equity Capital Markets, up 67% and 65% respectively. Debt Capital Markets were broadly stable
		-	ICB income decreased 7% to £921m. Transaction banking income increased 4% to £868m, as higher income from growth in deposit balances was partially offset by margin compression due to change in deposits product mix. Corporate lending income decreased to £53m, reflecting the non-repeat of fair value gains on leverage finance lending (c.£105m) in Q125, while underlying business performance was broadly stable
●	Total operating expenses increased to £4,326m (H125: £4,031m), driven by higher performance costs partially offset by efficiency savings and the impact of strengthening average GBP against USD
●	Credit impairment charges increased to £323m (H125: £139m), primarily driven by a single name charge of £228m in Q126

●	Loans and advances at amortised cost increased to £136.3bn (December 2025: £130.3bn), driven by increased lending in Investment Banking
●	Trading portfolio assets increased to £208.2bn (December 2025: £189.5bn), driven by increased trading activity in debt securities to facilitate client demand in Global Markets
●	Financial assets at fair value through the income statement increased to £209.9bn (December 2025: £183.6bn), driven by increased secured lending in Global Markets
●	Derivative financial instrument assets increased to £302.6bn (December 2025: £251.5bn) and liabilities increased to £291.6bn (December 2025: £240.6bn), reflecting an increase in client activity and mark-to-market in Equity and FX Derivatives
●	Deposits at amortised cost increased to £162.3bn (December 2025: £156.1bn), driven by growth in deposits primarily in the ICB
●	RWAs increased to £204.1bn (December 2025: £196.7bn), mainly driven by higher activity in Global Markets as we continued to support clients through a range of environments

Half-year Financial Report

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1	Return on average allocated tangible equity, excluding a c.£225m Q226 gain on sale (recorded in Net fee, commission and other income), from the AA portfolio exit, was 10.5% for Q226 and 14.9% for H126, as a result of an adjusted attributable profit of £87m and £263m, respectively.
2	H125 and Q225 LLR includes held for sale portfolios to remain consistent with the treatment of impairment.
3	Reflects FICO distribution based on ending net receivables for customer credit cards.

●	Profit before tax increased to £582m (H125: £170m)
●	The 4% appreciation of average GBP against USD adversely impacted income and profits, and positively impacted credit impairment charges and total operating expenses
●	Total income increased 26% to £2,119m, including the adverse impact of the strengthening of average GBP against USD. NII increased 18% to £1,555m including business growth, repricing initiatives and change in portfolio mix. Net fee, commission and other income increased 53% to £564m driven by gain on sale from the AA portfolio and the Best Egg acquisition
●	Total operating expenses increased 2% to £824m, driven by the acquisitions of Best Egg and the General Motors co-branded cards portfolio (GM Portfolio), business growth, and inflationary headwinds, partially offset by lower partner related expenses, the strengthening of average GBP against USD, and ongoing efficiency savings
●	Credit impairment charges were £713m (H125: £711m), reflecting broadly stable underlying credit performance and the £26m day 1 impact from the Best Egg acquisition. US cards 30 and 90 day arrears rates were 2.9% (H125: 2.8%) and 1.6% (H125: 1.6%) respectively. The USCB total coverage ratio was 11.1% (December 2025: 11.1%)

●	Loans and advances to customers at amortised cost were broadly stable at £21.7bn (December 2025: £21.1bn)
●	Deposits at amortised cost increased to £24.7bn (December 2025: £24.2bn), with growth in retail savings which is in line with USCB's strategy to grow core deposits
●	RWAs decreased to £24.3bn (December 2025: £27.4bn), driven by a net £3.2bn reduction relating to the AA portfolio sale and Best Egg acquisition

●	Loss before tax was £372m (H125: £247m)
●	Total income decreased to £78m (H125: £136m), driven by the impact of the disposal of the German consumer finance business in Q125, and hedge accounting
●	Total operating expenses increased to £476m (H125: £387m), reflecting the £105m increase in the provision for the FCA motor finance redress scheme in Q126

Barclays Group
	Q226	Q126	Q425	Q325	Q225	Q125	Q424	Q324
Income statement information	£m	£m	£m	£m	£m	£m	£m	£m
Net interest income	3,921	3,737	3,734	3,745	3,505	3,517	3,500	3,308
Net fee, commission and other income	4,417	4,426	3,343	3,422	3,682	4,192	3,464	3,239
Total income	8,338	8,163	7,077	7,167	7,187	7,709	6,964	6,547
Operating costs	(4,514)	(4,359)	(4,379)	(4,254)	(4,149)	(4,258)	(4,244)	(3,954)
UK regulatory levies	-	(84)	(229)	12	-	(96)	(227)	27
Litigation and conduct	(4)	(104)	(50)	(255)	(76)	(11)	(121)	(35)
Total operating expenses	(4,518)	(4,547)	(4,658)	(4,497)	(4,225)	(4,365)	(4,592)	(3,962)
Other net income/(expenses)	3	21	(25)	39	(9)	18	-	21
Profit before impairment	3,823	3,637	2,394	2,709	2,953	3,362	2,372	2,606
Credit impairment charges	(571)	(823)	(535)	(632)	(469)	(643)	(711)	(374)
Profit before tax	3,252	2,814	1,859	2,077	2,484	2,719	1,661	2,232
Tax charges	(731)	(638)	(388)	(365)	(552)	(621)	(448)	(412)
Profit after tax	2,521	2,176	1,471	1,712	1,932	2,098	1,213	1,820
Non-controlling interests	(19)	-	(18)	-	(21)	(2)	(20)	(3)
Other equity instrument holders	(243)	(244)	(258)	(255)	(252)	(232)	(228)	(253)
Attributable profit	2,259	1,932	1,195	1,457	1,659	1,864	965	1,564

Performance measures
Return on average tangible shareholders' equity	16.1%	13.5%	8.5%	10.6%	12.3%	14.0%	7.5%	12.3%
Average tangible shareholders' equity (£bn)	56.1	57.2	56.5	55.1	53.9	53.1	51.5	51.0
Cost: income ratio	54%	56%	66%	63%	59%	57%	66%	61%
Loan loss rate (bps)	51	74	48	57	44	61	66	37
Basic earnings per ordinary share	16.7p	14.1	8.6p	10.4p	11.7p	13.0p	6.7p	10.7p
Basic weighted average number of shares (m)	13,565	13,727	13,883	14,045	14,211	14,314	14,432	14,648
Period end number of shares (m)	13,507	13,737	13,867	13,996	14,180	14,336	14,420	14,571
Period end tangible shareholders' equity (£bn)	57.2	55.6	56.8	54.9	54.5	53.4	51.5	51.1

Balance sheet and capital management¹	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Loans and advances to customers at amortised cost	359.3	358.3	352.8	346.4	339.2	338.6	337.9	326.5
Loans and advances to banks at amortised cost	12.0	12.0	8.7	9.4	8.7	9.4	8.3	8.1
Debt securities at amortised cost	73.5	68.3	68.5	70.7	69.9	71.4	68.2	64.6
Loans and advances at amortised cost	444.8	438.6	430.0	426.5	417.8	419.4	414.5	399.2
Loans and advances at amortised cost impairment coverage ratio	1.2%	1.3%	1.2%	1.2%	1.2%	1.2%	1.2%	1.3%
Total assets	1,730.4	1,694.8	1,544.2	1,629.2	1,598.7	1,593.5	1,518.2	1,531.1
Deposits at amortised cost	594.4	587.6	585.6	575.3	564.5	574.3	560.7	542.8
Tangible net asset value per share	423p	405p	409p	392p	384p	372p	357p	351p
Common equity tier 1 ratio	14.3%	14.1%	14.3%	14.1%	14.0%	13.9%	13.6%	13.8%
Common equity tier 1 capital	52.2	51.2	51.1	50.3	49.5	48.8	48.6	47.0
Risk weighted assets	364.8	364.5	356.8	357.4	353.0	351.3	358.1	340.4
UK leverage ratio	4.9%	4.8%	5.1%	4.9%	5.0%	5.0%	5.0%	4.9%
UK leverage exposure	1,345.6	1,321.3	1,247.3	1,285.3	1,259.8	1,252.8	1,206.5	1,197.4

Funding and liquidity
Group liquidity pool (£bn)	346.7	326.1	337.8	332.9	333.7	336.3	296.9	311.7
Liquidity coverage ratio²	157.7%	165.4%	170.0%	174.6%	177.7%	175.3%	172.4%	170.1%
Net stable funding ratio	135.8%	135.4%	135.2%	135.3%	135.6%	136.2%	134.9%	135.6%
Loan: deposit ratio	75%	75%	73%	74%	74%	73%	74%	74%

1	Refer to pages 53 to 58 for further information on how capital, RWAs and leverage are calculated.
2	Represents average of the last 12 spot month end ratios. In June 2025, Barclays implemented a new methodology for calculating net stress outflows related to secured financing transactions in the liquidity coverage ratio (LCR).

1	Return on average allocated tangible equity, excluding a c.£225m Q226 gain on sale (recorded in Net fee, commission and other income) from the AA portfolio exit, was 10.5% for Q226, as a result of an adjusted attributable profit of £87m.
2	LLR includes held for sale portfolios to remain consistent with the treatment of impairment in Q424 to Q126.

Margins and balances
	Half year ended 30.06.26			Half year ended 30.06.25
	Net interest income	Average customer assets	Net interest margin	Net interest income	Average customer assets	Net interest margin
	£m	£m	%	£m	£m	%
Barclays UK	3,986	217,201	3.70	3,677	208,977	3.55
Barclays UK Corporate Bank	807	29,070	5.60	701	25,044	5.64
Barclays Private Bank and Wealth Management	420	14,979	5.65	407	14,701	5.58
Barclays US Consumer Bank	1,555	24,203	12.96	1,318	24,897	10.68
Group excluding IB and Head Office	6,768	285,453	4.78	6,103	273,619	4.50
Barclays Investment Bank	794			631
Head Office	96			288
Barclays Group Net interest income	7,658			7,022

Quarterly analysis
	Q226	Q126	Q425	Q325	Q225
Net interest income	£m	£m	£m	£m	£m
Barclays UK	2,000	1,986	2,015	1,961	1,855
Barclays UK Corporate Bank	413	394	396	383	359
Barclays Private Bank and Wealth Management	216	204	202	190	203
Barclays US Consumer Bank	732	823	776	726	640
Group excluding IB and Head Office	3,361	3,407	3,389	3,260	3,057

Average customer assets	£m	£m	£m	£m	£m
Barclays UK	217,778	216,623	214,770	211,384	209,649
Barclays UK Corporate Bank	29,603	28,536	27,841	26,645	25,478
Barclays Private Bank and Wealth Management	14,936	15,022	15,105	14,802	14,729
Barclays US Consumer Bank	22,247	26,163	26,470	25,037	23,713
Group excluding IB and Head Office	284,564	286,344	284,186	277,868	273,569

Net interest margin	%	%	%	%	%
Barclays UK	3.68	3.72	3.72	3.68	3.55
Barclays UK Corporate Bank	5.60	5.60	5.64	5.70	5.65
Barclays Private Bank and Wealth Management	5.80	5.51	5.31	5.09	5.53
Barclays US Consumer Bank	13.20	12.76	11.63	11.50	10.83
Group excluding IB and Head Office	4.74	4.83	4.73	4.65	4.48

	Gross exposure					Impairment allowance
	Stage 1	Stage 2	Stage 3 excluding POCI	Stage 3 POCI	Total	Stage 1	Stage 2	Stage 3 excluding POCI	Stage 3 POCI	Total
As at 30.06.26	£m	£m	£m	£m	£m	£m	£m	£m	£m	£m
Retail mortgages	163,971	13,869	1,765	-	179,605	16	20	61	-	97
Retail credit cards	15,067	2,085	303	13	17,468	170	430	189	-	789
Retail other	9,683	1,597	352	8	11,640	103	184	218	-	505
Corporate loans¹	56,110	6,500	1,628	-	64,238	104	180	638	-	922
Total UK	244,831	24,051	4,048	21	272,951	393	814	1,106	-	2,313
Retail mortgages	1,661	231	172	-	2,064	3	1	26	-	30
Retail credit cards	19,041	2,780	1,814	-	23,635	412	785	1,450	-	2,647
Retail other	2,614	444	73	-	3,131	7	6	18	-	31
Corporate loans	69,582	3,888	1,566	-	75,036	85	135	275	-	495
Total Rest of the World	92,898	7,343	3,625	-	103,866	507	927	1,769	-	3,203
Total loans and advances at amortised cost	337,729	31,394	7,673	21	376,817	900	1,741	2,875	-	5,516
Debt securities at amortised cost	72,362	1,177	-	-	73,539	11	9	-	-	20
Total loans and advances at amortised cost including debt securities	410,091	32,571	7,673	21	450,356	911	1,750	2,875	-	5,536
Off-balance sheet loan commitments and financial guarantee contracts²	407,202	16,150	838	5	424,195	158	238	37	-	433
Total^3,4	817,293	48,721	8,511	26	874,551	1,069	1,988	2,912	-	5,969

	Net exposure					Coverage ratio
	Stage 1	Stage 2	Stage 3 excluding POCI	Stage 3 POCI	Total	Stage 1	Stage 2	Stage 3 excluding POCI	Stage 3 POCI	Total
As at 30.06.26	£m	£m	£m	£m	£m	%	%	%	%	%
Retail mortgages	163,955	13,849	1,704	-	179,508	-	0.1	3.5	-	0.1
Retail credit cards	14,897	1,655	114	13	16,679	1.1	20.6	62.4	-	4.5
Retail other	9,580	1,413	134	8	11,135	1.1	11.5	61.9	-	4.3
Corporate loans¹	56,006	6,320	990	-	63,316	0.2	2.8	39.2	-	1.4
Total UK	244,438	23,237	2,942	21	270,638	0.2	3.4	27.3	-	0.8
Retail mortgages	1,658	230	146	-	2,034	0.2	0.4	15.1	-	1.5
Retail credit cards	18,629	1,995	364	-	20,988	2.2	28.2	79.9	-	11.2
Retail other	2,607	438	55	-	3,100	0.3	1.4	24.7	-	1.0
Corporate loans	69,497	3,753	1,291	-	74,541	0.1	3.5	17.6	-	0.7
Total Rest of the World	92,391	6,416	1,856	-	100,663	0.5	12.6	48.8	-	3.1
Total loans and advances at amortised cost	336,829	29,653	4,798	21	371,301	0.3	5.5	37.5	-	1.5
Debt securities at amortised cost	72,351	1,168	-	-	73,519	-	0.8	-	-	-
Total loans and advances at amortised cost including debt securities	409,180	30,821	4,798	21	444,820	0.2	5.4	37.5	-	1.2
Off-balance sheet loan commitments and financial guarantee contracts²	407,044	15,912	801	5	423,762	-	1.5	4.4	-	0.1
Total^3,4	816,224	46,733	5,599	26	868,582	0.1	4.1	34.2	-	0.7