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Barclays PLC Interim / Quarterly Report 2011

Oct 31, 2011

5250_10-q_2011-10-31_2db7693c-26da-4239-bef9-25bd889f3cb3.pdf

Interim / Quarterly Report

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FORM 6-K

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934

October 31, 2011

Barclays PLC and Barclays Bank PLC

(Names of Registrants)

1 Churchill Place London E14 5HP England (Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F
X
Form 40-F
---------------- -----------

Indicate by check mark whether the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark whether the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENTS ON FORM F-3 (NO. 333-169119) AND FORM S-8 (NOS. 333-112796, 333-112797, 333- 149301 AND 333-149302) OF BARCLAYS BANK PLC AND THE REGISTRATION STATEMENTS ON FORM S-8 (NO. 333-153723, 333-167232 AND 333-173899) AND FORM F-3 (333-173886) OF BARCLAYS PLC AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.

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This Report is a joint Report on Form 6-K filed by Barclays PLC and Barclays Bank PLC. All of the issued ordinary share capital of Barclays Bank PLC is owned by Barclays PLC.

The Report comprises the following:

  • Exhibit 99.1 Results of Barclays PLC as of, and for the nine months ended 30 September 2011.
  • Exhibit 99.2 A table setting forth the issued share capital of Barclays PLC and the Barclays PLC Group's total shareholders' equity, indebtedness and contingent liabilities as at 30 June 2011.
  • Exhibit 99.3 A table setting forth the issued share capital of Barclays Bank PLC and the Barclays Bank PLC Group's total shareholders' equity, indebtedness and contingent liabilities as at 30 June 2011.
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SIGNATURES
on its behalf by the undersigned, thereunto duly authorised. Pursuant to the requirements of the Securities Exchange Act of 1934, each of the registrants has duly caused this report to be signed
BARCLAYS PLC
(Registrant)
Date: October 31, 2011 By: /s/ Marie Smith
Name: Marie Smith
Title: Assistant Secretary
BARCLAYS BANK PLC
(Registrant)
Date: October 31, 2011 By: /s/ Marie Smith
Name: Marie Smith

Title: Assistant Secretary

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Exhibit 99.1

BARCLAYS PLC AND BARCLAYS BANK PLC

This document includes portions from the previously published Interim Management Statement of Barclays PLC relating to the nine month period ended 30 September 2011, as amended to comply with the requirements of Regulation G and Item 10(e) of Regulation S-K promulgated by the US Securities and Exchange Commission (the "SEC"), and also includes the reconciliation to certain financial information prepared in accordance with International Financial Reporting Standards ("IFRS"). The purpose of this document is to provide such additional disclosure as required by Regulation G and Regulation S-K item 10(e), to delete certain information not in compliance with SEC regulations and to include reconciliations of certain non IFRS figures to the most directly equivalent IFRS figures for the periods presented. This document does not update or otherwise supplement the information contained in the previously published Interim Management Statement.

In this document certain non-IFRS measures are reported. Barclays management believes that these non-IFRS measures provide valuable information to readers of its financial statements because they enable the reader to identify a more consistent basis for comparing the business' 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 Barclays management. However, any non-IFRS measures in this document are not a substitute for IFRS measures and readers should consider the IFRS measures as well.

An audit opinion has not been rendered in respect of this document.

Barclays PLC

FORM 6-K

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31 October 2011

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Barclays PLC - Interim Management Statement

Group Unaudited Results 30.09.11 30.09.10
£m £m % Change
Total income net of insurance claims excluding own credit
1
22,242 22,968 (3)
Own credit gain/(charge) 2,971 (96) nm
Total income net of insurance claims 25,213 22,872 10
Credit impairment charges and other provisions (2,851) (4,298) (34)
Impairment of investment in BlackRock, Inc. (1,800) nm
Net operating income 20,562 18,574 11
Operating expenses excluding provision for payment protection insurance (PPI) redress
2
(14,488) (14,476)
Provision for PPI redress
3
(1,000) nm
Profit before tax 5,066 4,274 19
Own credit (gain)/charge (2,971) 96 nm
Impairment of investment in BlackRock, Inc. 1,800 nm
Provision for PPI redress
3
1,000 nm
Losses/(gains) on acquisitions and disposals
4
120 (134) nm
Adjusted profit before tax
5
5,015 4,236 18
Profit after tax 3,349 3,206 4
Profit attributable to equity holders of the parent 2,651 2,480 7
Basic earnings per share 22.2p 21.3p 4
Dividend per share 3.0p 3.0p
Capital and Balance Sheet 30.09.11 30.06.11
Core Tier 1 ratio 11.0% 11.0% nm
Risk weighted assets £390bn £395bn (1)
Adjusted gross leverage
6
21x 20x nm
Group liquidity pool £166bn £145bn 14
Net asset value per share 439p 423p 4
Net tangible asset value per share 372p 353p 5
Group loan: deposit ratio 116% 118% nm
Adjusted 5 Statutory
Performance Measures 30.09.11 30.09.10 30.09.11 30.09.10
Cost: income ratio 65% 63% 61% 63%
Cost: net operating income ratio 74% 78% 75% 78%

1 Total income net of insurance claims (excluding own credit), is a non-IFRS measure because it excludes own credit gain/(charge) from the respective IFRS line item

2 Operating expenses excluding provision for payment protection insurance (PPI) redress, is a non-IFRS measure because it excludes PPI redress from the respective IFRS line items

3 Provision for the settlement of PPI claims following the conclusion of the Judicial Review proceedings. In addition the Group has recognised costs of £13m (2010: 155m) for the settlement of PPI claims unrelated to the Judicial Review

4 2011 includes a £58m loss on disposal of a portion of the Group's strategic investment in BlackRock, Inc. recycled through investment income, and a £64m provision relating to the sale of Barclays Bank Russia

  • 5 Adjusted performance measures and profit before tax are non-IFRS measures as they exclude: the impact of own credit; the impairment of the investment in BlackRock, Inc.; the provision for PPI redress; and gains and losses on acquisitions and disposals of subsidiaries, associates, joint ventures and strategic investments
  • 6 Adjusted gross leverage is a non-IFRS measure representing the multiple of adjusted total tangible assets over total qualifying Tier 1 capital. This measure has been presented as it provides for a metric used by management in assessing balance sheet leverage. Barclays management believes that this measure provides useful information to readers of Barclays financial statements as a key measure of stability. Adjusted total tangible assets are total assets less derivative counterparty netting, assets under management on the balance sheet, settlement balances, goodwill and intangible assets
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Q311 Interim Management Statement

Group Performance

Group Results by Quarter Q311 Q211 Q111 Q410 Q310 Q210 Q110
1 £m £m £m £m £m £m £m
Total income net of insurance claims (excluding own credit) 7,001 7,491 7,750 8,081 7,238 7,563 8,167
Own credit gain/(charge) 2,882 440 (351) 487 (947) 953 (102)
Total income net of insurance claims 9,883 7,931 7,399 8,568 6,291 8,516 8,065
Credit impairment charges and other provisions (1,023) (907) (921) (1,374) (1,218) (1,572) (1,508)
Impairment of investment in BlackRock, Inc. (1,800)
Net operating income 7,060 7,024 6,478 7,194 5,073 6,944 6,557
Operating expenses (excluding provision for PPI redress)
2
(4,659) (4,987) (4,842) (5,495) (4,756) (4,868) (4,852)
Provision for PPI redress
3
(1,000)
Total operating expenses (4,659) (5,987) (4,842) (5,495) (4,756) (4,868) (4,852)
Share of post tax results of associates & JVs 18 19 17 16 9 18 15
Gains/(losses) on acquisitions and disposals 3 (67) 2 76 1 33 100
Profit before tax 2,422 989 1,655 1,791 327 2,127 1,820
Own credit (gain)/charge (2,882) (440) 351 (487) 947 (953) 102
Impairment of investment in BlackRock, Inc. 1,800
Provision for PPI redress
3
1,000
(Gains)/losses on acquisitions and disposals
4
(3) 125 (2) (76) (1) (33) (100)
Adjusted profit before tax
5
1,337 1,674 2,004 1,228 1,273 1,141 1,822
Basic earnings per share 9.7p 4.0p 8.5p 9.1p 0.4p 11.6p 9.3p
Cost: income ratio 47% 75% 65% 64% 76% 57% 60%
Cost: net operating income ratio 66% 85% 75% 76% 94% 70% 74%
Adjusted cost: income ratio
1
67% 66% 62% 68% 66% 64% 59%
Adjusted cost: net operating income ratio
1
78% 75% 71% 82% 79% 81% 73%
Adjusted 5 Statutory
Nine Months Ended Nine Months Ended
Profit/(Loss) Before Tax by Business 30.09.11 30.09.10 30.09.11 30.09.10
UK RBB 1,198 634 798 734
Europe RBB (109) (63) (109) (34)
Africa RBB 622 550 624 554
Barclaycard 902 561 302 561
Retail and Business Banking 2,613 1,682 1,615 1,815
Barclays Capital 2,698 3,314 5,669 3,218
Barclays Corporate 106 (414) 42 (414)
Corporate and Investment Banking 2,804 2,900 5,711 2,804
Barclays Wealth 153 122 153 122
Investment Management 80 55 (1,778) 55
Head Office Functions and Other Operations (635) (523) (635) (522)
Group profit before tax 5,015 4,236 5,066 4,274

1 Total income net of insurance claims (excluding own credit), is a non-IFRS measure because it excludes own credit gain/ (charge) from the respective IFRS line item

2 Operating expenses excluding provision for PPI redress, is a non-IFRS measure because it excludes PPI redress from the respective IFRS line item

3 Provision for the settlement of PPI claims following the conclusion of the Judicial Review proceedings

4 2011 includes a £58m loss on disposal of a portion of the Group's strategic investment in BlackRock, Inc. recycled through investment income, and a £64m provision relating to the sale of Barclays Bank Russia

5 Adjusted profit before tax and adjusted performance metrics have been presented to provide a more consistent basis for comparing business performance between periods. These measures exclude: the impact of own credit; the impairment of the investment in BlackRock, Inc.; the provision for PPI redress; and gains and losses on acquisitions and disposals of subsidiaries, associates, joint ventures and strategic investments. Adjusted profit before tax is presented excluding: for UK RBB the provision for PPI redress of £400m (2010: nil), and loss on disposal of £nil (2010: £100m), for Europe RBB gains and losses on acquisitions and disposals of £nil (2010: £29m), for Africa RBB gains and losses on acquisitions and disposals of

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£2m (2010: £4m), for Barclaycard the provision for PPI redress of £600m (2010: nil), for Barclays Capital the impact of own credit gain of £2,971m (2010: £96m loss), for Barclays Corporate the loss on disposal of £64m (2010: nil), for Investment Management the impairment of the investment in BlackRock, Inc. of £1,800m (2010: nil), and loss on disposal of £58m (2010: nil), and for Head Office and Other Operations gains and losses on acquisitions and disposals of £nil (2010: £1m)

Barclays PLC

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Q311 Interim Management Statement

Adjusted
2
Statutory
Nine Months Ended Nine Months Ended
30.09.11
30.09.10
30.09.11 30.09.10
Income by Geographic Segment
1
£m % £m % £m % £m %
UK 9,476 42 9,395 41 9,902 39 9,376 40
Europe 3,566 16 3,443 15 4,742 19 3,406 15
Americas 4,637 21 5,639 24 5,467 22 5,615 25
Africa and the Middle East 3,784 17 3,614 16 3,784 15 3,614 16
Asia 799 4 877 4 1,338 5 861 4
Total income net of insurance claims 22,242 100 22968 100 25,213 100 22,872 100

1 Total income net of insurance claims based on counterparty location

2 Adjusted income by geographic segment is presented excluding own credit gain: for the UK £426m (2010: £19m loss), for Europe £1,176m (2010: £37m loss), for the Americas £830m (2010: £24m loss), and for Asia £539m (2010: £16m loss)

Barclays PLC

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Page 1 of 1

Capital

  • Core Tier 1 remained strong at 11.0% (30 June 2011: 11.0%), with risk weighted assets flat at £390bn (30 June 2011: £395bn). Adjusted gross leverage was 21x (30 June 2011: 20x) 1
  • Eurozone country exposures continue to be managed closely and valued appropriately. The Group's sovereign exposure to Spain, Italy, Portugal, Ireland and Greece reduced in Q3 by 31% to £8.0bn
  • £6bn of term funding raised in Q3 2011, making £24bn in 2011 year to date. This compares to full year 2011 term funding maturities of £25bn
  • Robust liquidity position with a liquidity pool of £166bn (30 June 2011: £145bn), which represent over a year of wholesale maturities, of which £152bn is FSA-eligible
  • Net asset value per share increased 16p to 439p during Q3 and net tangible asset value per share increased 19p to 372p

Returns

  • Adjusted profit before tax of £5,015m up 18%. Statutory profit before tax of £5,066m up 19% 2
  • Impairment charges and other credit provisions of £2,851m down 34%, resulting in a year-to-date annualised loan loss rate of 74bps (2010: 110bps)
  • BlackRock, Inc. investment assessed as impaired for accounting purposes, resulting in recycling through the income statement of the £1,800m cumulative reduction in fair value, which was already recognised in equity and deducted for regulatory capital purposes
  • Operating expenses excluding PPI provision of £1,000m, flat at £14,488m and including PPI provision up 19% to £15,488m
  • Third interim dividend of 1.0p per share, making 3.0p for the year to date

Income Growth

  • Income excluding own credit down 3% to £22,242m. Including own credit, income was up 10% to £25,213m. Own credit gain of £2,882m in the third quarter driven by widening credit spreads on Barclays Capital structured notes, which are held at fair value
  • Net operating income up 4% to £19,391m excluding own credit and impairment of investment in BlackRock, Inc. Statutory net operating income up 11% to £20,562m
  • Increased contribution from RBB, Barclays Corporate and Barclays Wealth, which together generated a 6% increase in income. Net interest margin was up 9bps to 2.10% reflecting improvements in the underlying margin and hedging activities
  • Increase in net benefit from Group hedging activities of £559m (full year 2010: £665m).

Citizenship

  • Increased 2011 gross new UK lending to businesses of £33bn, including £11bn to SMEs, with the Group on track to exceed Project Merlin targets for 2011
  • Extended access to basic financial services in 11 countries across Africa, Asia and South America, reaching more than 130,000 new people through our Banking On Change programme including community-led savings and loans groups
  • Reached over 175,000 disadvantaged people through our Building Young Futures partnership with UNICEF, including provision of business or vocational skills training to over 112,000
  • 1 Adjusted gross leverage is a non-IFRS measure representing the multiple of adjusted total tangible assets over total qualifying Tier 1 capital. This measure has been presented as it provides for a metric used by management in assessing balance sheet leverage. Barclays management believes that this measure provides useful information to readers of Barclays financial statements as a key measure of stability
  • 2 Adjusted profit before tax excludes: the impact of own credit gain of £2,971m (2010: £96m loss); the impairment of the investment in BlackRock, Inc. of £1,800m (2010: nil).; the provision for PPI redress of £1,000m (2010: nil); and gains and losses on acquisitions and disposals of £120m (2010: £134 loss)
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Business Performance

UK RBB Nine Months Ended
30.09.11
Nine Months Ended
30.09.10
£m £m % Change
Total income net of insurance claims 3,527 3,332 6
Impairment charges and other credit provisions (380) (649) (41)
Net operating income 3,147 2,683 17
Operating expenses (excluding provision for PPI redress)
1
(1,950) (2,047) (5)
Provision for PPI redress (400) nm
Total operating expenses (2,350) (2,047) 15
Share of post tax results of associates & JVs 1 (2) nm
Gains on acquisitions and disposals 100 nm
Profit before tax 798 734 9
Provision for PPI redress 400 nm
Gains on acquisitions and disposals (100) nm
Adjusted profit before tax
2
1,198 634 89
  • Increase in income of 6% reflecting strong growth in mortgages and personal savings partially offset by a reduction in income following closure of the branch-based financial planning business
  • Impairment charges reduced by 41% due to significant improvement in unsecured lending
  • Operating expenses down 5% excluding the provision for PPI redress of £400m (2010: nil)
Europe RBB Nine Months Ended
30.09.11
Nine Months Ended
30.09.10
£m £m % Change
Total income net of insurance claims 979 901 9
Impairment charges and other credit provisions (178) (225) (21)
Net operating income 801 676 18
Operating expenses (920) (750) 23
Share of post tax results of associates & JVs 10 11 (9)
Gains on acquisitions and disposals 29 (100)
Loss before tax (109) (34) nm
Gains on acquisitions and disposals (29) nm
Adjusted loss before tax
2
(109) (63) 73
  • Adjusted loss of £109m (2010: loss of £63m) including £129m (2010: £nil) of restructuring charges principally related to operations in Spain 2
  • Strong growth in income of 9% driven by an improved liability margin and the appreciation of the Euro against Sterling
  • Impairment charges improved by 21% reflecting focused risk management and stable arrears rates
  • Operating expenses increased by 23% reflecting restructuring charges, Italian and Portuguese branch expansion during 2010 and the appreciation of the Euro against Sterling
  • 1 Operating expenses excluding provision for PPI redress, is a non-IFRS measure because it excludes PPI redress from the respective IFRS line items
  • 2 Adjusted profit/loss before tax has been presented to provide a more consistent basis for comparing business performance between periods and reflects the adjusting items disclosed above
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Africa RBB Nine Months Ended
30.09.11
Nine Months Ended
30.09.10
£m £m % Change
Total income net of insurance claims 2,861 2,717 5
Impairment charges and other credit provisions (377) (425) (11)
Net operating income 2,484 2,292 8
Operating expenses (1,865) (1,740) 7
Share of post tax results of associates & JVs 3 (2) nm
Gains on acquisitions and disposals 2 4 (50)
Profit before tax 624 554 13
Gains on acquisitions and disposals (2) (4) nm
Adjusted profit before tax
1
622 550 13

• Profit before tax increased 13%, or 25% excluding a one off pension credit of £54m in 2010

  • Income showed growth of 5% driven by improved performance in South Africa
  • Impairment charges improved by 11% reflecting more stable economic conditions with improved retail collections and commercial recoveries
  • Operating expenses increased 7% primarily reflecting inflationary pressures in South Africa and non recurrence of a pension credit in 2010
Barclaycard Nine Months Ended
30.09.11
Nine Months Ended
30.09.10
£m £m % Change
Total income net of insurance claims 3,112 2,988 4
Impairment charges and other credit provisions (988) (1,295) (24)
Net operating income 2,124 1,693 25
Operating expenses (excluding provision for PPI redress)
2
(1,248) (1,150) 9
Provision for PPI redress (600) nm
Total operating expenses (1,848) (1,150) 61
Share of post tax results of associates & JVs 26 18 44
Profit before tax 302 561 (46)
Provision for PPI redress 600 nm
Adjusted profit before tax
1
902 561 61

• Income was 4% ahead of prior year with growth in balances driven by UK Cards, partly offset by customer balance repayments in the US and appreciation of Sterling against the US Dollar

• Impairment charges reduced by 24% reflecting focused risk management and customer balance repayments. The 30 day delinquency rate continued to improve in the UK and the US. This led to a 163bps increase in risk adjusted margin

  • Operating expenses were in line with prior year, after excluding the provision for PPI redress of £400m (2010: nil), goodwill impairment and portfolio acquisitions
  • 1 Adjusted profit/loss before tax has been presented to provide a more consistent basis for comparing business performance between periods and reflects the adjusting items disclosed above
  • 2 Operating expenses excluding provision for PPI redress, is a non-IFRS measure because it excludes PPI redress from the respective IFRS line items
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Barclays Capital Nine Months Ended
30.09.11
Nine Months Ended
30.09.10
£m £m % Change
Fixed Income, Currency and Commodities
1
5,354 6,656 (20)
Equities and Prime Services 1,446 1,415 2
Investment Banking 1,521 1,518
Principal Investments 196 124 58
Total income net of insurance claims (excluding own credit)
2
8,517 9,713 (12)
Own credit 2,971 (96) nm
Total income net of insurance claims 11,488 9,617 19
Impairment charges and other credit provisions (3) (321) (99)
Net operating income 11,485 9,296 24
Operating expenses (5,831) (6,094) (4)
Share of post tax results of associates & JVs 15 16 (6)
Profit before tax 5,669 3,218 76
Own credit (2,971) 96 nm
Adjusted profit before tax
3
2,698 3,314 (19)
  • Total income excluding own credit was down 12% on 2010 3
  • Fixed Income, Currency and Commodities (FICC) income declined 20%, reflecting lower contributions from the Credit, Commodities and Emerging Markets businesses, partially offset by an improved performance in Foreign Exchange which benefited from strong client volumes, and Group hedging activities 1
  • Equities and Prime Services income increased 2% reflecting improved performance in equity financing
  • Investment Banking income was flat with improved performance in equity underwriting and M&A advisory offset by a decrease in debt underwriting
  • Total income excluding own credit in the third quarter of 2011 was down 22% on the second quarter of 2011 reflecting reduced income of 16% in FICC , 40% in Equities and Prime Services and 25% in Investment Banking 4 5
  • Net operating income excluding own credit reduced 9%, having benefited from a significant reduction in impairment charges to £3m (2010: £321m) principally reflecting charges relating to leveraged finance exposures, offset by a release of £223m against the loan to Protium Finance LLP (Protium) in the first half of 2011
  • Operating expenses declined 4% reflecting the reduction in net operating income excluding own credit. Excluding the impact of own credit, the cost to net operating income ratio was 68% and the compensation to income ratio was 46%
  • 1. Own credit gains/charges are reflected in the Fixed Income Currency and Commodities line for the purposes of income including own credit
  • 2. Total income net of insurance claims (excluding own credit), is a non-IFRS measure because it excludes own credit gain/ (charge) from the respective IFRS line items

8

  • 3. Adjusted profit before tax excludes the impact of own credit gain of £2,971m (2010: 96m loss)
  • 4. In the third quarter of 2011, total income including own credit was up 54% from the previous quarter to £5,136m
  • 5. Including own credit FICC income was up 100% from the second quarter of 2011

Barclays PLC

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Barclays Corporate Nine Months Ended
30.09.11
Nine Months Ended
30.09.10
£m £m % Change
Total income net of insurance claims 2,247 2,167 4
Impairment charges and other credit provisions (896) (1,354) (34)
Net operating income 1,351 813 66
Operating expenses (1,246) (1,227) 2
Share of post tax results of associates & JVs 1 nm
Loss on disposal (64) nm
Profit/(loss) before tax 42 (414) nm
Loss on disposal 64 nm
Adjusted profit/(loss) before tax
1
106 (414) nm

Adjusted profit/(loss) before tax by geographic

segment
1
UK 592 563 5
Europe (434) (700) (38)
Rest of the World
2
(52) (277) (81)
Barclays Corporate 106 (414) nm

• UK profit before tax up 5% largely reflecting solid income growth, including benefit from Group hedging activity, and a reduction in impairment, partially offset by an increase in costs mainly due to the non-recurrence of a prior year pension credit

  • Europe loss before tax improved 38% principally due to lower impairment charges in Spain of £415m (2010: £751m)
  • Rest of the World adjusted loss before tax improved 81% principally due to the non-recurrence of 2010 restructuring charges and subsequent benefits. A significant improvement in impairment charges reflected management action to reduce the risk profile of portfolios
Barclays Wealth Nine Months Ended
30.09.11
Nine Months Ended
30.09.10
£m £m % Change
Total income net of insurance claims 1,295 1,143 13
Impairment charges and other credit provisions (31) (35) (11)
Net operating income 1,264 1,108 14
Operating expenses (1,109) (986) 12
Share of post tax results of associates & JVs (2) nm
Profit before tax 153 122 25

• Strong income growth of 13% was driven by the High Net Worth businesses

• Operating expenses increased 12% due to uplift in investment spend and related restructuring costs as well as staff and infrastructure costs from growth in the High Net Worth businesses

1 Adjusted profit/(loss) before tax for Barclays Corporate excludes the loss on disposal for Rest of the World of £64m (2010: nil). The figures for UK and Europe are unadjusted

2 Loss before tax for Rest of World including the loss on disposal improved 58% to a loss of £116m (2010: £277m)

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Q311 Interim Management Statement

Nine Months Ended Nine Months Ended
Investment Management 30.09.11 30.09.10
£m £m % Change
Total income net of insurance claims 31 58 (47)
Impairment of investment in BlackRock, Inc. (1,800) nm
Net operating income (1,769) 58 nm
Operating expenses (9) (3) nm
(Loss)/profit before tax (1,778) 55 nm
Impairment of investment in BlackRock, Inc. 1,800 nm
Loss on disposal 58 nm
Adjusted profit before tax
1
80 55 45

• Adjusted profit before tax of £80m (2010: £55m), principally reflected dividend income from the Group's available for sale holding in BlackRock, Inc. which represents a 19.7% interest 1

• The loss before tax of £1,778m (2010: profit of £55m) resulted from an assessment for accounting purposes that there was objective evidence that the Group's investment in BlackRock, Inc. was impaired. For regulatory capital purposes, the reduction in fair value of £1,800m has already been recognised in the Group's Core Tier 1 capital

• The impairment reflects the recycling through the income statement of the cumulative reduction in market value previously recognised in equity, since the Group's acquisition of its holding in BlackRock, Inc. as part of the sale of Barclays Global Investors on 1 December 2009. The fair value of the holding as at 30 September 2011 was £3.6bn

Head Office and Other Operations Nine Months Ended
30.09.11
Nine Months Ended
30.09.10
£m £m % Change
Loss before tax (635) (522) 22
  • Loss before tax increased 22% largely due to a currency translation gain of £270m in 2010 relating to the repatriation of capital from overseas operations, partially offset by the non-recurrence of 2010 costs of £194m relating to compliance with US economic sanctions
  • In accordance with International Financial Reporting Standards, the impact of the UK bank levy, for which legislation was enacted in July 2011, has not been reflected in these results. The total cost for 2011 is expected to be in the range of £330m- £380m
  • 1 Adjusted profit before tax has been presented to provide a more consistent basis for comparing business performance between periods and reflects the adjusting items disclosed above

Barclays PLC

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Credit Impairment

  • Credit impairment charges and other provisions fell 34% to £2,851m
  • Charges were lower across all RBB businesses, most notably in Barclaycard and unsecured personal loans and overdrafts in UK RBB, mainly due to lower delinquency rates, reflecting a general improvement in asset quality, the low interest rate environment and broadly flat unemployment rates in the UK and US in the year to date
  • The £3m charge in Barclays Capital resulted principally from charges relating to leveraged finance exposures, offset by a release of £223m against the loan to Protium in the first half of 2011
  • Charges were lower in Barclays Corporate, notably in Spain and UK, although charges were higher in Portugal where credit conditions remained weak
  • The annualised loan loss rate reduced to 74bps (2010: 110bps) and is unchanged from 30 June 2011, as the higher impairment charge on loans and advances in the third quarter was offset by a 2% increase in loans and advances
  • Delinquency trends were stable or improving in the majority of retail portfolios with the exception of certain European portfolios, which have experienced some deterioration in the past few months
  • The Group's credit risk loans (CRL) coverage ratio remained broadly stable in the third quarter as both CRL balances and impairment allowances fell modestly

Liquidity and Funding

• Barclays liquidity pool increased to £166bn as at 30 September 2011 (30 June 2011: £145bn) and moved within a month end range of £145bn to £166bn during Q3. The increase was largely as a result of increased deposit-taking through the third quarter. The pool represents more than a year of wholesale maturities and includes £152bn FSA eligible assets 1

Liquidity Pool Cash and Deposits
With Central Banks
Government
Guaranteed Bonds
Government and
Supranational Bonds
Other Available
Liquidity
Total
£bn £bn £bn £bn £bn
As at 30.09.11
2
100 1 53 12 166
As at 30.06.11 85 1 48 11 145
  • As at 30 September 2011, the Group has £146bn of wholesale debt maturing in less than one year. This includes £38bn of term funding, of which £16bn matures during Q4 2011
  • Term funding raised over the first nine months of 2011 was £24bn, compared to full year term funding maturities of £25bn. In the third quarter, the Group raised £3bn term debt via Barclays Capital's private placement MTN programmes and £3bn in publicly issued covered bonds and credit card securitisations
  • Funding continues to be raised at attractive rates and, as a result of the current funding position, the Group can be selective in accessing public term funding markets
  • Retail and Business Banking (excluding Absa), Barclays Corporate and Barclays Wealth activities are largely funded with customer deposits. The funding gap for these businesses is met using asset backed securities and covered bonds, secured primarily over customer loans and advances such as residential mortgages and credit card receivables. The loan to deposit ratio for these businesses is 109% and the ratio of loans to deposits and secured funding is 99%
  • Barclays Capital is primarily funded through wholesale markets. The Group maintains access to a variety of sources of wholesale funds, including unsecured money markets, repo markets and term investors, across a variety of distribution channels and geographies. The Group wholesale funding profile, including tenor and concentration risks, is managed under the Group Liquidity Risk Framework, which is subject to FSA supervision, to ensure sufficient liquidity is held to cover potential cash outflows in a stressed environment
  • 1 High quality unencumbered assets that meet the requirements of the FSA liquidity regime, primarily comprising deposits with central banks and Government bonds
  • 2 Over 95% of central bank deposits are placed with the Bank of England, US Federal Reserve, European Central Bank, Bank of Japan and Swiss National Bank. 80% of Government and supranational bonds are comprised of UK, US, Japanese, French, German and Dutch securities

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Group Exposures to Selected Eurozone Countries

  • The Group continues to closely monitor its exposure to Eurozone countries. Detailed information on the Group's balance sheet positions in Spain, Italy, Portugal, Ireland and Greece as at 30 September 2011 is set out on pages 14-16
  • During Q3 the Group's sovereign exposure to these countries reduced by 31% to £8.0bn
  • Spanish sovereign exposure reduced 43% to £2.7bn due to the sale of available for sale government bonds held for interest rate hedging purposes that have been replaced by interest rate swaps with alternative counterparties
  • Italian sovereign exposures reduced 24% to £4.1bn as government bond positions were closed out
  • Portuguese sovereign exposure reduced 17% to £805m with a reduction in client activity
  • Exposure to Ireland remained broadly flat in Q3, principally comprising exposures to financial institutions of £4.4bn (30 June 2011: £4.5bn), including £1.3bn of trading assets and £1.1bn of loans to entities domiciled in Ireland whose principal business and exposures are outside of Ireland. Exposures to domestic Irish banks remained below £250m
  • Exposure to Greece remained minimal, including sovereign exposures of £23m

Dividends

• It is our policy to declare and pay dividends on a quarterly basis. We will pay a third interim cash dividend for 2011 of 1p per share on 9 December 2011, giving a declared dividend for the year to date of 3p per share

Outlook

• Capital markets remained difficult in October but have shown some improvement since the announcement by Eurozone leaders last week. Our retail, corporate and wealth businesses have performed broadly in line with their underlying run rates for the first nine months of the year

Other Information

Results Timetable Date
Ex-dividend date 9 November 2011
Dividend Record date 11 November 2011
Dividend Payment date 9 December 2011
2011 Full Year Results Announcement 15 February 2012
Q1 2012 Interim Management Statement 26 April 2012

For Further Information Please Contact

Investor Relations Media Relations
Charlie Rozes +44 (0) 20 7116 7599 Giles Croot +44 (0) 20 7116 6132

More information on Barclays can be found on our website: www.barclays.com

Barclays PLC

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Notes

  • Unless otherwise stated, the income statement analyses compare the nine months to 30 September 2011 to the corresponding period in 2010. Balance sheet comparisons, unless otherwise stated, relate to the corresponding position as at 30 June 2011
  • Adjusted profit before tax and adjusted performance metrics have been presented to provide a more consistent basis for comparing business performance between periods. These measures exclude: the impact of own credit; the impairment of the investment in BlackRock, Inc.; the provision for PPI redress; and gains and losses on acquisitions and disposals of subsidiaries, associates, joint ventures and strategic investments
  • The financial information on which this Interim Management Statement is based, and other data set out in the appendices to this statement, are unaudited and have been prepared in accordance with Barclays previously stated accounting policies described in the 2010 Annual Report. A glossary of terms is also set out in the 2010 Annual Report
  • For qualifying US and Canadian resident ADR holders, the interim dividend of 1p per ordinary share becomes 4p per ADS (representing four shares). The ADR depositary will mail the interim dividend on 9 December 2011 to ADR holders on the record on 11 November 2011

Forward-looking Statements

This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to certain of the Group's plans and its current goals and expectations relating to its future financial condition and performance. Barclays cautions readers that no forwardlooking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as "may", "will", "seek", "continue", "aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe" or other words of similar meaning. Examples of forward-looking statements include, among others, statements regarding the Group's future financial position, income growth, assets, impairment charges, business strategy, capital ratios, leverage, payment of dividends, projected levels of growth in the banking and financial markets, projected costs, estimates of capital expenditures, and plans and objectives for future operations and other statements that are not historical fact. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, UK domestic, Eurozone and global economic and business conditions, the effects of continued volatility in credit markets, market related risks such as changes in interest rates and exchange rates, effects of changes in valuation of credit market exposures, changes in valuation of issued notes, the policies and actions of governmental and regulatory authorities (including requirements regarding capital and Group structures), changes in legislation, the further development of standards and interpretations under IFRS applicable to past, current and future periods, evolving practices with regard to the interpretation and application of standards under IFRS, the outcome of pending and future litigation, the success of future acquisitions and other strategic transactions and the impact of competition – a number of such factors being beyond the Group's control. As a result, the Group's actual future results may differ materially from the plans, goals, and expectations set forth in the Group's forwardlooking statements.

Any forward-looking statements made herein speak only as of the date they are made. Except as required by the UK Financial Services Authority, the London Stock Exchange plc or applicable law, Barclays expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in Barclays expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. The reader should, however, consult any additional disclosures that Barclays has made or may make in documents it has filed or may file with the LSE and/or the US Securities and Exchange Commission.

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Q311 IMS Appendix I – Quarterly Results Summary

UK RBB Q311 Q211 Q111 Q410 Q310 Q210 Q110
£m £m £m £m £m £m £m
Total income net of insurance claims 1,273 1,170 1,084 1,186 1,161 1,087 1,084
Impairment charges and other credit provisions (105) (131) (144) (170) (202) (222) (225)
Net operating income 1,168 1,039 940 1,016 959 865 859
Operating expenses (excluding provision for PPI redress)
1
(675) (622) (653) (762) (725) (628) (694)
Provision for PPI redress (400)
Total operating expenses (675) (1,022) (653) (762) (725) (628) (694)
Share of post tax results of associates & JVs 1 (1) 1 1 (4) 2
Gains on acquisitions and disposals 29 71
Profit before tax 494 16 288 255 230 266 238
Provision for PPI redress 400
Gains on acquisitions and disposals (29) (71)
Adjusted profit before tax
2
494 416 288 255 230 237 167
Europe RBB
Total income net of insurance claims 375 309 295 263 299 297 305
Impairment charges and other credit provisions (62) (47) (69) (89) (92) (62) (71)
Net operating income 313 262 226 174 207 235 234
Operating expenses (263) (368) (289) (283) (255) (246) (249)
Share of post tax results of associates & JVs 2 4 4 4 4 4 3
Gains on acquisitions and disposals 29
Profit/(loss) before tax 52 (102) (59) (105) (44) (7) 17
Gains on acquisitions and disposals (29)
Adjusted profit/(loss) before tax
2
52 (102) (59) (105) (44) (7) (12)
Africa RBB
Total income net of insurance claims 994 955 912 983 935 900 882
Impairment charges and other credit provisions (109) (126) (142) (137) (95) (164) (166)
Net operating income 885 829 770 846 840 736 716
Operating expenses (642) (618) (605) (678) (671) (549) (520)
Share of post tax results of associates & JVs 1 2 5 (3) 1
Gains on acquisitions and disposals 2 77 4
Profit before tax 245 212 167 250 166 191 197
Gains on acquisitions and disposals (2) (77) (4)
Adjusted profit before tax
2
243 212 167 173 166 187 197
Barclaycard
Total income net of insurance claims 1,140 1,012 960 1,036 1,030 981 977
Impairment charges and other credit provisions (340) (344) (304) (393) (405) (425) (465)
Net operating income 800 668 656 643 625 556 512
Operating expenses (excluding provision for PPI redress) (430) (447) (371) (420) (386) (364) (400)
Provision for PPI redress (600)
Total operating expenses (430) (1,047) (371) (420) (386) (364) (400)
Share of post tax results of associates & JVs 8 7 11 7 5 7 6
Profit/(loss) before tax 378 (372) 296 230 244 199 118
Provision for PPI redress 600
Adjusted profit before tax
2
378 228 296 230 244 199 118

1 Operating expenses excluding provision for PPI redress, is a non-IFRS measure because it excludes PPI redress from the respective IFRS line items

2 Adjusted profit before tax has been presented to provide a more consistent basis for comparing business performance between periods and reflects the adjusting items disclosed above

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Q311 IMS Appendix I – Quarterly Results Summary

Barclays Capital Q311 Q211 Q111 Q410 Q310 Q210 Q110
£m £m £m £m £m £m £m
Fixed Income, Currency and Commodities 1,438 1,715 2,201 2,031 1,773 2,138 2,745
Equities and Prime Services 338 563 545 625 359 563 493
Investment Banking 389 520 612 725 501 461 556
Principal Investments
1
89 99 8 115 19 4 101
Total income (excluding own credit) 2,254 2,897 3,366 3,496 2,652 3,166 3,895
Own credit gain/(charge) 2,882 440 (351) 487 (947) 953 (102)
Total income 5,136 3,337 3,015 3,983 1,705 4,119 3,793
Impairment charges and other credit provisions (114) 80 31 (222) (12) (41) (268)
Net operating income 5,022 3,417 3,046 3,761 1,693 4,078 3,525
Operating expenses (1,758) (2,006) (2,067) (2,201) (1,881) (2,154) (2,059)
Share of post tax results of associates and JVs 6 6 3 2 6 7 3
Profit/(loss) before tax 3,270 1,417 982 1,562 (182) 1,931 1,469
Own credit (gain)/charge (2,882) (440) 351 (487) 947 (953) 102
Adjusted profit before tax
2
388 977 1,333 1,075 765 978 1,571
Barclays Corporate
Total income net of insurance claims 776 768 703 807 766 683 718
Impairment charges and other credit provisions (282) (327) (287) (342) (405) (642) (307)
Net operating income 494 441 416 465 361 41 411
Operating expenses (407) (427) (412) (680) (398) (343) (486)
Share of post tax results of associates & JVs 2 2 (3) (2)
Losses on disposal (64)
Profit/(loss) before tax 89 (48) 1 (217) (37) (302) (75)
Losses on disposal 64
Adjusted profit/(loss) before tax
2
89 16 1 (217) (37) (302) (75)
Barclays Wealth
Total income net of insurance claims 447 426 422 417 386 387 370
Impairment charges and other credit provisions (12) (9) (10) (13) (8) (17) (10)
Net operating income 435 417 412 404 378 370 360
Operating expenses (369) (375) (365) (363) (351) (320) (315)
Share of post tax results of associates & JVs (1) (1)
Profit before tax 65 42 46 41 27 50 45
Investment Management
Total income net of insurance claims
3
32 (25) 24 20 24 5 29
Impairment of investment in BlackRock, Inc. (1,800)
Net operating income (1,768) (25) 24 20 24 5 29
Operating expenses (3) (6) (8) (3)
(Loss)/profit before tax (1,771) (31) 24 12 24 2 29
Impairment of investment in BlackRock, Inc. 1,800
Loss on disposal 58
Adjusted profit before tax
2
29 27 24 12 24 2 29
Head Office Functions and Other Operations
Loss before tax (400) (145) (90) (237) (101) (203) (218)
Gains and losses on acquisitions and disposals (1) 3 (2) 1 (1)
Adjusted loss before tax (401) (142) (92) (236) (102) (203) (218)

1. Total income net of insurance claims (excluding own credit), is a non-IFRS measure because it excludes own credit gain/(charge) from the respective IFRS line items

2 Adjusted profit before tax has been presented to provide a more consistent basis for comparing business performance between periods and reflects the adjusting items disclosed above

3 Q2 2011 includes a £58m loss on disposal of a portion of the Group's strategic investment in BlackRock, Inc. recycled through investment income that is excluded for adjusted profit before tax and adjusted performance metrics

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Q311 IMS Appendix II – Risk Management

Analysis of Loans and Advances to Customers and Banks

As at 30.09.11 Gross
L&A
Impairment
Allowance
L&A Net of
Impairment
Impairment
Charges
1
Loan Loss
Rates
2
£m £m £m £m bps
Wholesale - customers 223,780 5,261 218,519 1,020 61
Wholesale - banks 58,899 45 58,854 (7) (2)
Total wholesale 282,679 5,306 277,373 1,013 48
Total retail 238,823 5,997 232,826 1,858 104
Loans and advances at amortised cost 521,502 11,303 510,199 2,871 74
Loans and advances held at fair value 24,147 na 24,147
Total loans and advances 545,649 11,303 534,346
As at 30.06.11
Wholesale - customers 212,523 5,132 207,391 621 59
Wholesale - banks 58,799 48 58,751 (4) (1)
Total wholesale 271,322 5,180 266,142 617 46
Total retail 241,033 6,441 234,592 1,257 105
Loans and advances at amortised cost 512,355 11,621 500,734 1,874 74
Loans and advances held at fair value 23,779 na 23,779
Total loans and advances 536,134 11,621 524,513

1 The impairment charge provided above relates to the nine months ended 30 September 2011 and six months ended 30 June 2011 2 Loan loss rates have been calculated on an annualised basis

Barclays PLC

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Q311 IMS Appendix III – Group Exposures to Selected Eurozone Countries

Group Exposures to Selected Eurozone Countries

  • The following tables are prepared on the same basis as the 2011 Interim Results Announcement and present the maximum direct balance sheet exposure to credit risk by country, with the totals reflecting allowance for impairment, netting and cash collateral held where appropriate
  • Trading and derivatives balances relate to investment banking activities, principally as market maker for government bond positions. Positions are held at fair value, with daily movements taken through profit and loss
  • Available for sale assets are principally investments in government bonds and other debt securities held for the purposes of interest rate hedging and liquidity for local banking activities. Balances are reported on a fair value basis, with movements in fair value going through equity
  • Loans and advances held at amortised cost, comprising: retail lending portfolios, predominantly mortgages secured on residential property; and corporate lending portfolios largely reflecting established corporate banking businesses in Spain, Italy and Portugal and investment banking services provided to multinational and large national corporate clients
  • Sovereign exposures reflect direct exposures to central and local government, the majority of which are used for hedging interest rate risk relating to local activities. These positions are being actively replaced by non-government instruments such as interest rate swaps. The remaining portion is actively managed reflecting our role as leading primary dealer, market maker and liquidity provider to our clients
  • Financial institution and corporate exposures reflect the country of operations of the immediate counterparty (including foreign subsidiaries and without reference to cross-border guarantees)
  • Retail exposures reflect the country of residence of retail customers
  • The Group enters into credit mitigation arrangements for risk management purposes (principally credit default swaps and total return swaps) for which the reference asset is government debt. These have the net effect of reducing the Group's exposure to these Eurozone countries. Only credit mitigation arrangements with counterparties in these countries are reflected in the analysis below. Credit mitigation arrangements with counterparties outside of these countries, for which the reference asset is Eurozone government debt, are not included in the analysis below

Spain

Fair Value through Profit and Loss

Trading Portfolio Derivatives
Trading
Portfolio
Assets
Trading
Portfolio
Liabilities
Net
Trading
Portfolio
Gross
Assets
Gross
Liabilities
Cash
Collateral
Net
Derivatives
as Fair
Value
Through
P&L
Total
as at
30.09.11
Total
as at
30.06.11
£m £m £m £m £m £m £m £m £m £m
Sovereign
Financial
1,036 (850) 186 101 (101) 186 48
institutions 428 (247) 181 9,020 (8,994) (26) 181 343
Corporate 118 (99) 19 597 (289) (2) 306 86 411 340
Fair Value through Equity Available for Sale Assets as at 30.09.11 Total
as at
Cost AFS Reserve Total 30.06.11
£m £m £m £m
Sovereign 2,454 12 2,466 4,713
Financial institutions 593 (17) 576 558
Corporate 16 (1) 15 25
Total
Held at Amortised Cost Gross Loans and Advances as at 30.09.11
Impairment Allowances
Total as at
30.06.11
£m £m £m £m
Sovereign 65 (1) 64 39
Financial institutions 322 (8) 314 370
Residential mortgages 15,305 (95) 15,210 16,503
Corporate 6,434 (1,348) 5,086 5,281
Other retail lending 3,405 (162) 3,243 3,170
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Italy

Fair Value through Profit and Loss

Trading Portfolio Derivatives Designated
Trading
Portfolio
Assets
Trading
Portfolio
Liabilities
Net
Trading
Portfolio
Gross
Assets
Gross
Liabilities
Cash
Collateral
Net
Derivatives
as Fair
Value
Through
P&L
Total
as at
30.09.11
Total
as at
30.06.11
£m £m £m £m £m £m £m £m £m £m
Sovereign 3,606 (2,621) 985 1,373 (605) (100) 668 1 1,654 2,757
Financial
institutions 491 (81) 410 7,153 (5,724) (1,147) 282 692 673
Corporate 121 (79) 42 485 (306) (93) 86 128 112
Fair Value through Equity Available for Sale Assets as at 30.09.11 Total
AFS as at
Cost Reserve Total 30.06.11
£m £m £m £m
Sovereign 2,399 64 2,463 2,686
Financial institutions 194 2 196 153
Corporate 26 (1) 25 17
Held at Amortised Cost Loans and Advances as at 30.09.11 Total
as at
Gross Impairment
Allowances
Total 30.06.11
£m £m £m £m
Sovereign 17 17
Financial institutions 73 (12) 61 14
Residential mortgages 15,561 (84) 15,477 15,486
Corporate 2,675 (162) 2,513 2,714
Other retail lending 2,608 (178) 2,430 2,473

Portugal

Fair Value through Profit and Loss

Trading Portfolio Derivatives Designated
as Fair
Trading
Portfolio
Assets
Trading
Portfolio
Liabilities
Net
Trading
Portfolio
Gross
Assets
Gross
Liabilities
Cash
Collateral
Net
Derivatives
Value
Through
P&L
Total
as at
30.09.11
Total
as at
30.06.11
£m £m £m £m £m £m £m £m £m £m
Sovereign 144 (107) 37 429 (429) 3 40 152
Financial institutions 49 (15) 34 333 (333) 34 30
Corporate 1 (1) 215 (84) 131 131 110
Fair Value through Equity Available for Sale Assets as at 30.09.11 Total
AFS as at
Cost Reserve Total 30.06.11
£m £m £m £m
Sovereign 893 (155) 738 792
Financial institutions 2 2 3
Corporate 879 (6) 873 1,033
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Page 2 of 2

Held at Amortised Cost Loans and Advances as at 30.09.11 Total
as at
Gross Impairment
Allowances
Total 30.06.11
£m £m £m £m
Sovereign 27 27 26
Financial institutions 18 18 45
Residential mortgages 3,704 (13) 3,691 3,828
Corporate 2,747 (175) 2,572 2,721
Other retail lending 2,264 (200) 2,064 2,143

Barclays PLC

18

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Q311 IMS Appendix III – Group Exposures to Selected Eurozone Countries

Ireland

Fair Value through Profit and Loss

Trading Portfolio Derivatives
Trading
Portfolio
Assets
Trading
Portfolio
Liabilities
Net
Trading
Portfolio
Gross
Assets
Gross
Liabilities
Cash
Collateral
Net
Derivatives
as Fair
Value
Through
P&L
Total
as at
30.09.11
Total
as at
30.06.11
£m £m £m £m £m £m £m £m £m £m
Sovereign 133 (133) 491 (108) (372) 11 1 12 148
Financial institutions 1,788 (52) 1,736 5,979 (5,366) (613) 49 1,785 1,591
Corporate 78 (17) 61 643 (643) 9 70 243
Fair Value through Equity Available for Sale Assets as at 30.09.11 Total
AFS as at
Cost Reserve Total 30.06.11
£m £m £m £m
Sovereign 214 7 221 183
Financial institutions 244 14 258 253
Corporate 5 5 15
Held at Amortised Cost Loans and Advances as at 30.09.11 Total
Impairment as at
Gross Allowances Total 30.06.11
£m £m £m £m
Sovereign 120 120
Financial institutions 2,471 (148) 2,323 2,622
Residential mortgages 114 (1) 113 87
Corporate 991 (21) 970 1,056
Other retail lending 293 (3) 290 296

Greece

Fair Value through Profit and Loss

Trading Portfolio Derivatives Designated
Trading
Portfolio
Assets
Trading
Portfolio
Liabilities
Net
Trading
Portfolio
Gross
Assets
Gross
Liabilities
Cash
Collateral
Net
Derivatives
as Fair
Value
Through
P&L
Total
as at
30.09.11
Total
as at
30.06.11
£m £m £m £m £m £m £m £m £m £m
Sovereign 14 (2) 12 7 (3) (3) 1 13 55
Financial institutions 2 2 1,097 (266) (731) 100 102 93
Corporate 4 4 1 1 5 18
Fair Value through Equity Available for Sale Assets as at 30.09.11 AFS Total
as at
Cost Reserve Total 30.06.11
£m £m £m £m
Sovereign 10 10 14
Held at Amortised Cost Loans and Advances as at 30.09.11 Total
Impairment as at
Gross Allowances Total 30.06.11
£m £m £m £m
Residential mortgages 4 4 6
Corporate 64 64 139
Other retail lending 31 (10) 21 22
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Q311 IMS Appendix IV – Barclays Capital Credit Market Exposures

Barclays Capital Credit Market Exposures

Credit market exposures 1

Nine Months Ended 30.09.11
As at As at As at As at As at As at Fair Value
(Losses)/Gains
Impairment
(Charge)/
Total
(Losses)/
30.09.11 30.06.11 31.12.10 30.09.11 30.06.11 31.12.10 and Net Funding Release Gains
\$m \$m \$m £m £m £m £m £m £m
Protium assets
2
4,844 5,411 10,884 3,109 3,374 7,028 (507) 223 (284)
US Residential
Mortgages
ABS CDO Super
Senior 2,918 2,949 3,085 1,873 1,839 1,992 (28) 7 (21)
US sub-prime and
Alt-A 706 775 1,025 453 483 662 (4) 41 37
Commercial
Mortgages
Commercial real
estate loans and
properties 8,780 10,390 11,006 5,635 6,479 7,106 432 432
Commercial
Mortgaged Backed
Securities
95 96 184 61 60 119
Monoline protection
on CMBS 9 10 18 6 6 12 33 33
Other Credit
Market
Leveraged Finance
3
6,560 7,019 7,636 4,210 4,377 4,930 44 (138) (94)
SIVs, SIV -Lites and
CDPCs 14 8 618 9 5 399 (15) (15)
Monoline protection
on CLO and other 1,904 2,000 2,541 1,222 1,247 1,641 30 30
Total 25,830 28,658 36,997 16,578 17,870 23,889 (15) 133 118

• Barclays Capital's credit market exposures primarily relate to commercial real estate, leveraged finance, and collateral previously underlying the loan to Protium. These exposures arose before the market dislocation in mid-2007

• During 2011, credit market exposures decreased by £7,311m to £16,578m, reflecting net sales and paydowns and other movements of £7,197m and foreign exchange rate movements of £232m, partially offset by fair value losses and impairment releases of £118m. The net sales, paydowns and other movements of £7,197m included:

– £3,412m relating to assets formerly held as collateral for the loan to Protium Finance LLP, comprising £1,938m net sales, £959m loan and interest repayments and £515m paydowns and other movements. Of these proceeds £459m was invested in Helix, an existing fund managed by an independent asset management firm

  • £1,855m of commercial real estate loans and properties sales, including £318m (\$529m) to Crexus Investment Corp
  • 1 As the majority of exposure is held in US Dollars, the exposures above are shown in both US Dollars and Sterling

2 Prior to 27 April 2011 when Protium was consolidated by the Group the exposure was a loan. This was carried at the amount equivalent to the fair value of the underlying collateral from 31 December 2010

3 Includes undrawn commitments of £198m (30 June 2011: £241m, 31 December 2010: £264m)

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Q311 IMS Appendix IV – Barclays Capital Credit Market Exposures

Protium Assets

Acquisition
Date
Acquisition
Date
As at
30.09.11
\$m
As at
30.06.11
\$m
As at
27.04.11
\$m
As at
31.12.10
\$m
As at
16.09.09
\$m
As at
30.09.11
£m
As at
30.06.11
£m
As at
27.04.11
£m
As at
31.12.10
£m
As at
16.09.09
£m
US sub-prime
and Alt-A
Commercial
1,590 2,142 4,406 4,402 4,477 1,020 1,335 2,665 2,710 2,716
mortgage
backed
securities
2,244 2,400 3,092 3,257 1,897 1,440 1,497 1,870 2,103 1,151
Monoline
protection
CLO and
225 4,562 145 2,768
other assets 1,010 869 1,952 1,636 1,349 649 542 1,181 1,189 818
Total
collateral
4,844 5,411 9,450 9,520 12,285 3,109 3,374 5,716 6,147 7,453
Cash and cash
equivalents
na na 231 1,364 250 na na 140 881 152
Total assets 4,844 5,411 9,681 10,884 12,535 3,109 3,374 5,856 7,028 7,605

• On 16 September 2009, Barclays Capital sold assets of \$12,285m, including \$8,384m in credit market assets, to Protium. As part of the transaction, Barclays extended a \$12,641m 10 year loan to Protium

• In April 2011, Barclays entered into several agreements to acquire all third party interests in Protium in order to help facilitate the Group's early exit from the underlying exposures. As a result, Protium was then consolidated by the Group. Subsequently, Protium sold its assets to Barclays entities and the loan has been repaid

• As part of this transaction, \$750m was invested in Helix. The investment represented 86% of the Helix fund, which has been consolidated by the Group. The fund's investments primarily comprise government and agency securities and, as such, Helix does not represent a credit market exposure. As at 30 September 2011, the fair value of Barclays investment in the fund was \$737m

Barclays PLC

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Exhibit 99.2

Capitalisation and Indebtedness

The following table sets out the issued share capital of Barclays PLC and its consolidated subsidiaries' total shareholders' equity, indebtedness and contingent liabilities as at 30 June 2011. The information has been prepared in accordance with the International Financial Reporting Standards (IFRS).

As at 30 June 2011
(000)
Share capital of Barclays PLC
Ordinary shares - issued and fully paid shares of £0.25 each 12,189,349
£ million
Group shareholders' equity
Called up share capital 3,047
Share premium account 9,314
Other reserves 1,291
Other shareholders' funds
Retained earnings 37,920
Shareholders' equity excluding non-controlling interests 51,572
Non-controlling interests 10,417
Total shareholders' equity 61,989
Group indebtedness
(1)
Subordinated liabilities
(2)
26,786
Debt securities in issue
(3)
144,871
Total indebtedness
(3)
171,657
Total capitalisation and indebtedness
(3)
233,646
Group contingent liabilities
Securities lending arrangements 32,977
Guarantees and letters of credit pledged as collateral security 12,886
Performance guarantees, acceptances and endorsements 9,257
Total contingent liabilities 55,120
Documentary credits and other short-term trade related transactions 1,392
Standby facilities, credit lines and other commitments 232,624

1. "Group indebtedness" includes interest accrued as at 30 June 2011 in accordance with International Financial Reporting Standards

2. On 8 July 2011, Barclays Bank PLC250,000,000 5.25% Subordinated Notes due 2011 matured

3. In addition to this there were £72,934 million of debt securities in issue accounted on a fair value basis as at 30 June 2011. At 30 September 2011 this amounted to £68,376m

Barclays PLC

1

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BARCLAYS RR Donnelley ProFile RRWIN-XENP121
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Exhibit 99.3

Capitalisation and Indebtedness

The following table sets out the issued share capital of Barclays Bank PLC and its consolidated subsidiaries' total shareholders' equity, indebtedness and contingent liabilities as at 30 June 2011. The information has been prepared in accordance with the International Financial Reporting Standards (IFRS).

As at 30 June 2011
(000)
Share capital of Barclays Bank PLC
Ordinary shares - issued and fully paid shares of £1 each 2,342,559
Preference shares - issued and fully paid shares of £100 each 75
Preference shares - issued and fully paid shares of £1 each 1
Preference shares - issued and fully paid shares of U.S.\$100 each 100
Preference shares - issued and fully paid shares of U.S.\$0.25 each 237,000
Preference shares - issued and fully paid shares of €100 each 240
£ million
Group shareholders' equity
Called up share capital 2,402
Share premium account 12,092
Other reserves 828
Other shareholders' funds 1,195
Retained earnings 42,650
Shareholders' equity excluding non-controlling interests 59,167
Non-controlling interests 3,354
Total shareholders' equity 62,521
Group indebtedness
(1)
Subordinated liabilities
(2)
26,786
Debt securities in issue
(3)
144,871
Total indebtedness
(3)
171,657
Total capitalisation and indebtedness
(3)
234,178
Group contingent liabilities
Securities lending arrangements 32,977
Guarantees and letters of credit pledged as collateral security 12,886
Performance guarantees, acceptances and endorsements 9,257
Total contingent liabilities 55,120
Documentary credits and other short-term trade related transactions 1,392
Standby facilities, credit lines and other commitments 232,624

1. "Group indebtedness" includes interest accrued as at 30 June 2011 in accordance with International Financial Reporting Standards

2. On 8 July 2011, Barclays Bank PLC250,000,000 5.25% Subordinated Notes due 2011 matured

3. In addition to this there were £72,934 million of debt securities in issue accounted on a fair value basis as at 30 June 2011. At 30 September 2011 this amounted to £68,376m

Barclays PLC