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	2003 Annual Report home Annual Review Annual Report 2003 Downloads Downloads Downloadable Files Title Size File Type 2003 Annual Report - Full Report 2.1 mb Annual Review and Summary Financial Statement 2003 318 kb Section 1 Financial Highlights 77 kb Chairman’s Statement 35 kb Group Chief Executive’s Statement 44 kb Financial Performance 51 kb Corporate Social Responsibility 46 kb Section 2 Directors & Officers of Barclays PLC & Barclays Bank PLC 161 kb Directors’ Report 81 kb Corporate Governance report 93 kb Barclays Report on Remuneration 150 kb Accountability and Audit 77 kb Presentation of Information 85 kb Risk Management 298 kb Financial data 92 kb Business Description 67 kb Financial Review 284 kb Other Information 88 kb Auditors’ Reports 89 kb Consolidated Accounts Barclays PLC 724 kb SEC Form 20-F Cross Reference and Other Information 85 kb Barclays Bank PLC Data 148 kb US GAAP Financial Data 80 kb Reconciliation of Economic Profit 77 kb Shareholder Information 110 kb Group Senior Management and Principal Offices 82 kb   2002 Annual Remuneration 18 kb Directors' section Executive Directors' annual pension accrued assuming retirement at contractual age 17 kb Current executive Directors': Illustration of change in value of share owned beneficially, or held under option or award under employment share plans during the year 17 kb Executive Directors: Shares provisionally allocated and shares under option under Executive Share Award Scheme (ESAS) 17 kb Executive Directors: Shares under option under Incentive Share Option Plan (ISOP) 23 kb Executive Directors: Shares under option under Sharesave 17 kb Directors: awards under closed Group incentive schemes 17 kb Directors: interest in ordinary shares of Barclays PLC 17 kb Risk management Risk management and control Average economic capital by business. 16 kb Credit risk management Barclays Internal ratings table 17 kb Risk tendency by business cluster 16 kb Analysis of loans and advances Loans and advances 16 kb Loans and advances by banking and trading books 16 kb Loans and advances to banks Maturity analysis of loans and advances to banks 18 kb Interest rate sensitivity of loans and advances to banks 16 kb Loans and advances to Customers Interest rate sensitivity of loans and advances to customers 17 kb Loans and advances to customers booked in offices in the UK - business banking 17 kb Loans and advances to customers in offices in other European Union countries - banking business 17 kb Loans and advances to customers in offices in the United States - banking business 17 kb Loans and advances to customers in offices in the Rest of the World - banking business 16 kb Total loans and advances to customers 17 kb Maturity analysis of loans and advances to customers (2003 & 2002) 19 kb Loans and advances to borrowers in currencies other than the local currency of the borrower for countries where this exceeds 1% of total Group assets 17 kb Other credit risks Off balance sheet and other credit exposures 16 kb Credit risk portfolio management and the use of credit derivatives Notional principal amounts of credit derivatives 16 kb Potential credit risk lendings Non-performing loans summary 16 kb Non-performing loans geographical analysis 19 kb Potential problem loans 16 kb Provisions for bad and doubtful debts Analysis of the provision charges for bad and doubtful debts 16 kb Bad debt provisions charge ratios (Loan loss ratios) 16 kb Analysis of provision balances for bad and doubtful debts 17 kb Provisions balance ratios 16 kb Movements in provisions for bad and doubtful debts 16 kb Amounts written off 16 kb Recoveries 16 kb Provisions charged against profit 17 kb Total provisions for bad and doubtful debts 16 kb Specific provisions charges and balances for bad and doubtful debts by industry 19 kb Analysis of amounts written off and recovered by industry 19 kb Total provision coverage of total non-performing loans 16 kb Total provision coverage of total potential credit risk lendings (NPL's and PPL's) 16 kb Ratios of general and specific provision balances 15 kb Market risk management Barclays Capital DVaR: summary table for 2003 and 2002 16 kb Disclosures about certain trading activities including non-exchange traded contracts Movement in fair value of commodity derivative positions 16 kb Source of commodity derivative fair values 16 kb Analysis of fair value by counterparty credit risk rating -commodities 16 kb Treasury asset and liability management Analysis of weighted-average receive fixed and pay fixed rates by rest maturity date and nominal amount 18 kb Analysis of weighted average receive variable and pay variable rates by reset maturity date and nominal amount 18 kb Contractual obligations 16 kb Other commercial commitments 17 kb Financial Data Barclays PLC Consolidated profit and loss account summary 20 kb Selected financial statistics 17 kb Consolidated balance sheet summary 18 kb Weighted risk assets and capital ratios and Selected financial statistics 17 kb Financial Review Results by nature of income and expense Net interest income 16 kb Prevailing interest rates 16 kb Average interest earning assets and liabilities - banking business 16 kb Yields, spreads and margins - banking business 16 kb Net fees and commissions 16 kb Dealing profits 16 kb Other operating income 16 kb Administrative expenses - staff costs 16 kb Staff numbers 17 kb Administrative expenses - other 17 kb Depreciation and goodwill amortisation 16 kb Provisions for bad and doubtful debts 16 kb Profit /(loss) from joint ventures and associated undertakings 16 kb (Loss)/profit on disposal/termination 16 kb Tax 16 kb Analysis of results by business Personal Financial Services - Financial performance 18 kb Barclays Private Clients- Financial performance 18 kb Barclaycard- Financial performance 18 kb Business Banking- Financial performance 18 kb Barclays Africa- Financial performance 17 kb Barclays Capital- Financial performance 18 kb Barclays Global Investors- Financial performance 17 kb Head office functions and other operations- Financial performance 16 kb Average balance sheet Average balance sheet and net interest income (Assets) 21 kb Average balance sheet and net interest income - (Liabilities and Shareholders' funds) 21 kb Changes in net interest income - volume and rate analysis- (interest receivable) 19 kb Changes in net interest income - volume and rate analysis- (interest payable and Movement in net interest income) 21 kb Capital resources Barclays PLC Group and Barclays Bank PLC Group 17 kb Capital adequacy data 16 kb Capital resources (Tier 1, Tier 2 and Tier 3) 18 kb Capital ratios 15 kb Deposits Deposits by banks and customer accounts 16 kb Short-term borrowings Short-term borrowings 17 kb Securities Book value and valuation of securities 18 kb Government securities which exceed 10% of shareholders funds 15 kb Maturities and weighted average yield of investment debt securities 16 kb Consolidated accounts Barclays PLC Consolidated profit and loss account for the year ended 31st December 2003 20 kb Statement of total recognised gains and losses for the year ended 31st December 2003 16 kb Consolidated balance sheet as at 31st December 2003 (Assets) 20 kb Consolidated balance sheet as at 31st December 2003 (Liabilities, minority and other interests and shareholders' funds and memorandum items) 21 kb Consolidated statement of changes in reserves for the year ended 31st December 2003 19 kb Consolidated cash flow statement for the year ended 31st December 2003 21 kb Parent company accounts (profit and loss account and changes in reserves. Balance sheet) 20 kb Notes to the accounts Note 1 Dealing profits 16 kb Note 2 Other operating income 16 kb Note 3 Administrative expenses - staff costs 16 kb Note 4 (1) Pensions, post-retirement, and other staff costs - Pension/regular costs 16 kb (2) Total pension costs of the Group 16 kb Note 5 (1) Administrative expenses - Other property and equipment expenses 16 kb (2) Fees paid to Group's Auditors 17 kb Note 6 Depreciation and amortisation 16 kb Note 7 Provisions for contingent liabilities and commitments 16 kb Note 8 (Loss)/profit on disposal/termination of Group undertakings 16 kb Note 9 (1) Charge for the year 17 kb (2) Reconciliation of standard tax rate to effective tax rate 18 kb Note 11 Dividends - Barclays PLC 16 kb Note 12 Earnings per 25p ordinary share - Barclays PLC 16 kb Note 13 Treasury bills and other eligible bills 16 kb Note 14 Loans and advances to banks 17 kb Note 15 (1) Loans and advances to customers 18 kb (2) Residual risk under finance leases 16 kb (3) Personal mortgage loans subject to non-recourse finance 16 kb Note 16 Provisions for bad and doubtful debts 19 kb Note 17 Debt securities - Investment securities and Movements in investment securities 20 kb Note 18 Equity shares 17 kb Note 19 (1) Interests in associated undertakings and joint ventures - share of assets 17 kb (2) Goodwill included in Barclays share of associated assets 16 kb (3) Summarised financial information of associated undertakings & joint ventures 17 kb Note 20 Intangible fixed assets 17 kb Note 21 Tangible fixed assets 20 kb Note 23 other assets 16 kb Note 24 (1) Retail long-term assurance funds 17 kb (2) Retail life-funds attributable to policy holders 16 kb (3) Principal economic assumptions used in calculating the value of shareholders interest in retail long-term assurance fund 16 kb Note 25 Prepayments and accrued income 16 kb Note 26 Deposits by banks 17 kb Note 27 Customer accounts 18 kb Note 28 Debt securities in issue 16 kb Note 29 Other liabilities 17 kb Note 30 Accruals and deferred income 16 kb Note 31 Deferred tax 16 kb Note 32 Other provisions for liabilities and charges 18 kb Note 33 Undated loan capital 19 kb Note 34 Dated loan capital 23 kb Note 35 Called up share capital 16 kb Note 37 Shareholders' funds 18 kb Note 40 Assets and liabilities denominated in sterling and foreign currencies 16 kb Note 42 Future rental commitments under operating leases 17 kb Note 43 Principal subsidiary undertakings 19 kb Note 44 (1) Contingent liabilities and commitments 17 kb (2) Unconditional obligations to purchase goods and services 16 kb Note 45 Derivatives and other financial instruments (1) interest rate repricing - as at 31st December 2003 20 kb (2) interest rate repricing - as at 31st December 2002 20 kb (3) Non trading currency risk 16 kb (4) Daily value at risk 16 kb (5) Hedging tables 19 kb (6) Derivatives held or issued for trading purposes - (2003) 21 kb (7) Derivatives held or issued for trading purposes - (2002) 20 kb (8) Derivative financial instruments held for the purpose of managing non-trading exposures 19 kb (9) Derivative financial instruments held for the purpose of managing non-trading exposures - OTC foreign exchange derivatives 18 kb (10) Maturity of notional principal amounts as at 31st December 2003 20 kb (11) Maturity of notional principal amounts as at 31st December 2002 19 kb (12) Maturity analyses of replacement cost and counterparty analyses of net replacement cost 18 kb Note 46 (1) Fair values of financial instruments - trading 17 kb (2) Fair values of financial instruments - non trading 18 kb Note 48 Reconciliation of operating profit to net cash flow from operating activities 18 kb Note 49 (1) Sale of Group undertakings during the year - net cash outflow from formation of FirstCaribbean 16 kb (2) Sale of Group undertakings 17 kb Note 50 Changes in financing during the year 17 kb Note 51 Analysis of cash balances 18 kb Note 52 Analysis of the net outflow of cash in respect of the acquisition of subsidiary undertakings 16 kb Note 53 Acquisitions 17 kb Note 54 Related party transactions - Pension funds, unit trusts and investment funds 16 kb Note 55 Directors' and officers emoluments and other benefits 16 kb Note 57 Contracts with Directors and connected persons and with managers 16 kb Note 58 Other entities 19 kb Note 59 Segmental analysis 33 kb Note 60 Retirement benefits (1) Financial assumptions used in actuarial valuations (a) 17 kb (2) Assets and liabilities of schemes and assumed long term real rates (b) 22 kb (3) Surpluses and deficits relating to pension schemes(c) 17 kb (4) Analysis of amounts charged to operating profit (d) 16 kb (5) Analysis of amounts included as other finance income (e) 16 kb (6) Analysis of amounts included in the statement of total recognised gains and losses during 2003 17 kb (7) Analysis of movements in pension scheme and post-retirement healthcare surpluses/(deficits) during 2003 17 kb (8) Analysis of amounts included in the statement of total recognised gains and losses during 2002 16 kb (9) Analysis of movements in pension scheme and post-retirement healthcare surpluses/(deficits) during 2002 17 kb Note 61 Differences between UK GAAP and US GAAP accounting principals (1) Attributable profit of Barclays PLC Group (UK GAAP) 22 kb (2) Goodwill 17 kb (3) Other intangible assets 17 kb (4) Pension cost and post-retirement benefits - Components of the pension and post retirements expense 20 kb (5) Pension cost and post-retirement benefits - Assumed health care trend rates 18 kb (6) Pension cost and post-retirement benefits - Pension schemes and post retirement benefits under US GAAP 21 kb (7) Pension cost and post-retirement benefits - Minimum liability, intangible asset and other comprehensive income 18 kb (8) Pension cost and post-retirement benefits - Percentage of fair value 16 kb (9) Deferred tax 18 kb (10) Share compensation schemes - Analysis of movement in the number and weighted average exercise price of options 20 kb (11) Share compensation schemes - Range of exercise prices, number and weighted average exercise price of options 16 kb (12) Share compensation schemes - Range of exercise prices, weighted average fair values at the date of grant using Black-Scholes model 18 kb (13) Share compensation schemes - Range, Weighted average exercise price, weighted average remaining contractual life and number of options outstanding 18 kb (14) Share compensation schemes - Range, weighted average exercise price and number of options exercisable 17 kb (15) Earnings per share 17 kb (16) Fair value of securities - description of securities 17 kb (17) Internal use software 17 kb (18) Derivatives - Adjustment to net income 16 kb (19) Consolidation - Activity 16 kb (20) Consolidation - Asset securitisation and client intermediation 15 kb (21) Consolidation - Maximum loss and total assets 16 kb (22) Securitisation - Movement in fair value of retained interests during the period 16 kb (23) Securitisation - Key assumptions used in measuring the interest only strip 16 kb (24) Securitisation - Servicing liabilities recognised and amortised 16 kb (25) Securitisation - Cash flows between group and the securitisation vehicles 15 kb (26) Securitisation - Key economic assumptions and a sensitivity analysis showing the hypothetical effect on the fair value 17 kb (27) Securitisation - Information about principal balances of managed and securitised receivables 16 kb (28) Collateral - Repos and reverse repos 16 kb (29) Guarantees - Maturity analysis of guarantees 16 kb (30) Total assets - Netting 16 kb (31) Changes in US GAAP - Shareholders' Funds 16 kb Note 62 Consolidated statement of cashflows 17 kb Note 63 Regulatory capital requirements 16 kb Note 65 Ratio of earnings to fixed charges and preference share dividends 17 kb SEC Form 20-F cross reference and other information Currency of presentation 16 kb Consolidated accounts Barclays Bank PLC Consolidated profit and loss account for the year ended 31st December 2003 20 kb Statement of total recognised gains and losses for the year ended 31st December 2003 16 kb Consolidated balance sheet as at 31st December 2003 (Assets) 19 kb Consolidated balance sheet as at 31st December 2003 (Liabilities) 22 kb Consolidated statement of changes in reserves as at 31st December 2003 18 kb Consolidated cash flow statement for the year ended 31st December 2003 22 kb Notes to the accounts a) Administrative expenses - staff costs 16 kb b) Called up share capital 16 kb c) Dividends 16 kb d) Reconciliation of operation profit to net cash flow from operating activities 16 kb e) Changes in financing during the year 17 kb f) Segmental analysis 17 kb g) Differences between UK and US accounting principles - Barclays Bank PLC 19 kb Financial data Barclays Bank PLC Selected financial statistics/Selected profit and loss account data/Selected balance sheet data 19 kb US GAAP financial data Selected financial statistics 17 kb Selected financial statement data 16 kb Reconciliation of Economic Profit Reconciliation of Economic Profit 18 kb Shareholder information Pence per 25p ordinary share 15 kb US Dollars per 25p ordinary share 15 kb US Dollars per American Depositary Shares 16 kb Shareholder information Trading market for ordinary shares of Barclays PLC 17 kb Shareholdings at 31st December 2003 17 kb Disclaimer © Barclays PLC 2004