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Annual Report 2016

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Chairman's Statement

John McFarlane, Chairman

Today the Group is smaller, safer, more focused, less leveraged, better capitalised and highly liquid, with the customer at the centre of the business. The sale of Africa, the settlement of legacy conduct matters and the exit of Non-Core will improve this significantly going forward.

Full Chairman's statement (PDF 102KB)Full Chairman's statement (PDF 102KB)

Chief Executive’s review  

Jes Staley, Group CEO

We will stay wedded to a fundamental principle of finance: earn and maintain the trust of your customers and clients. Just as 327 years ago when we were founded, Barclays will be known for the way in which we do business, the integrity with which we operate, having a positive impact on society, and delivering shareholder value.

Full CEO review (PDF 215KB)Full CEO review (PDF 215KB) Watch Jes talk about our resultsWatch Jes talk about our results

Ashok Vaswani, CEO, Barclays UK

During 2018, Barclays UK will become the ring-fenced bank for the UK, continuing to provide transactional, lending and investment products and services to over 24 million Personal, Wealth and Business Banking customers and clients, via a separate legal entity.

Barclays UK performance (PDF 335KB)Barclays UK performance

Tim Throsby, President, Barclays International and Chief Executive Officer, Corporate and Investment Bank

Barclays International is a diversified transatlantic, wholesale and consumer bank which will be housed within Barclays Bank PLC, the future non-ring-fenced bank. We seek to maintain and further our position as a leading provider of financial services to corporates, institutions and individuals.

Barclays International performance (PDF 178KB)Barclays International performance

 

   

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Business model 

Barclays PLC Group operates via two clearly defined divisions – Barclays UK and Barclays International – with a diversified business model that we believe helps to enhance our resilience to changes in the external environment.

  • We draw on the following to support our activities and deliver value to our stakeholders:

    • the strength and reputation of our brand – serving customers and clients for over 325 years
    • a strong, well-funded and diversified balance sheet
    • customer and client relationships
    • our geographic focus: firmly anchored in the two financial centres of London and New York, with global reach
    • a track record of successfully innovating for customers and clients
    • the skills and expertise of our people and the shared values which inform the way we work and how we act.
  • We aim to provide superior services to help customers and clients create, grow and protect wealth in a sustainable way.

    Barclays’ customers and clients include: individuals, small and medium-sized businesses, corporates, financial institutions and banks, and institutions and governments

    We offer:

    • a safe place to save, invest and manage cash and payments
    • funding for purchases and growth
    • management of business and financial risks
    • financial and business support.
  • We support our stakeholders via a commercially successful business that generates long-term sustainable returns

    • Our services generate income via net interest income and non-interest income, including fees and commissions as well as trading and investment income through our wholesale activities.
    • We are a large financial institution and provide diversification by business line, geography and customer; supported by a conservative risk profile. We believe this diversification and prudence enhances our resilience.
  • We aim to deliver broad value from the way we do business, including:

    • superior service to enable customers and clients to achieve their ambitions
    • challenging and fulfilling careers for our people in a values-driven organisation
    • long-term sustainable returns for our investors
    • we work together with regulators to help reduce risk in the industry and provide a more sustainable banking landscape over the long term
    • employment and growth in the economies in which we operate
    • engagement with governments and society to address societal issues and needs.

 

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Our strategy

 

Our strategy is to build on our strength as a transatlantic consumer, corporate and investment bank, anchored in our two home markets of the UK and US.

More on our strategy (PDF 320KB)More on our strategy (PDF 320KB)

Our revised performance measurement framework supports the sustained delivery of our strategy over the medium to long-term and will influence executive remuneration from 2017. Our strategic success is intrinsically linked to the positive impact we have on all our stakeholders and society as a whole.
 

Financial performance metrics
– to be delivered within a reasonable timeframe

  • Group RoTE to converge with Core RoTE
  • Group Cost: Income ratio below 60%
  • CET1 ratio 150-200bps above minimum regulatory level

Strategic non-financial performance measures
– delivering positive outcomes for our stakeholders

Customer and Client

  • Building trust with our customers and clients, such that they are happy to recommend us to others
  • Successfully innovating and developing products and services that meet their needs
  • Offering suitable products and services in an accessible way, ensuring excellent customer and client experience

Colleague

Promoting and maintaining:

  • A diverse and inclusive workforce in which employees of all backgrounds are treated equally and have the opportunity to be successful and achieve their potential
  • Engaged and enabled colleagues
  • A positive conduct and values-based environment

Citizenship

  • Making decisions and doing business that provides our clients, customers, shareholders, colleagues and the communities which we serve with access to a prosperous future, through our Shared Growth Ambition
  • Proactively managing the environmental and societal impacts of our business 

Underpinned by how we behave towards all our stakeholders through our conduct and culture

More on performance indicators (PDF 149KB)More on performance indicators (PDF 149KB)
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