Barclays.comPerformance highlights
This summary is taken from Barclays 2011
Full Year Results announcement.
“I am proud of what our people at Barclays achieved in 2011. Against the backdrop of challenging economic and market conditions, we maintained our focus on clients and customers while supporting the real economy, as well as the needs of our shareholders, colleagues and the communities in which we operate.
"As a result, we have delivered a strong set of results, both financially and in terms of our execution priorities.”
Bob Diamond, Chief Executive
- Total income increased 3% to £32,292m, adjusted income excluding own credit and debt buy-backs down 8%
- Profit before tax of £5,879m down 3%, adjusted profit before tax of £5,590m down 2%
- Credit impairment charge of £3,802m improved 33%, with an annualised loan loss rate of 77bps (2010: 118bps)
- Operating expenses, excluding PPI provision, goodwill impairment and UK bank levy, of £18,855m down 4%. Cost saving targets have been exceeded
- 2011 total incentive awards down 26% across the Group compared with a 3% reduction in profit before tax. Barclays Capital total incentive awards down 35% compared with 2010, with Barclays Capital profit before tax reducing 32%
- Core Tier 1 ratio strengthened to 11.0% (2010: 10.8%), despite the impact of the third Capital Requirements Directive (CRD3), with risk weighted assets reduced to £391bn (2010: £398bn)
- Liquidity pool remained strong at £152bn (2010: £154bn)
- Net asset value per share increased 9% to 456p and net tangible asset value per share increased 13% to 391p
- Universal banking model helped to deliver broadly balanced adjusted profit before tax across the retail and investment banking businesses
- Sovereign exposure to Spain, Italy, Portugal, Ireland and Greece reduced to £7.1bn (2010: £8.2bn)
- Final dividend of 3.0p per share for the fourth quarter, making 6.0p for the year, an increase of 9%
