Edgar Filing: BARCLAYS BANK PLC

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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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

July 28, 2017

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 by furnishing the information

contained in this Form is also thereby furnishing the information to the

Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes No x

If "Yes" is marked, indicate below the file number assigned to the registrant

in connection with Rule 12g3-2(b):

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.

This Report comprises:

Information given to The London Stock Exchange and furnished pursuant to

General Instruction B to the General Instructions to Form 6-K.

EXHIBIT INDEX

Half-year Report – July 28, 2017

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each of the registrants has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	BARCLAYS PLC
	(Registrant)

July 28, 2017

	By: /s/ Garth Wright --------------------------------
	Garth Wright
	Assistant Secretary

	BARCLAYS BANK PLC
	(Registrant)

July 28, 2017

	By: /s/ Garth Wright --------------------------------
	Garth Wright
	Assistant Secretary

Barclays Bank PLC

Results Announcement

30 June 2017

Table of Contents

Results Announcement	Page
Notes	1
Presentation of Information	2-4
Statement of Directors’ Responsibilities	5
Independent Review Report to Barclays Bank PLC	6
Condensed Consolidated Financial Statements	7-12
Financial Statement Notes	13-14
Appendix
Barclays PLC Results Announcement	15-115

BARCLAYS BANK PLC, 1 CHURCHILL PLACE, LONDON, E14 5HP, UNITED KINGDOM. TELEPHONE: +44 (0) 20 7116 1000. COMPANY NO. 1026167

Notes

The term Barclays or Group refers to Barclays PLC together with its subsidiaries and the term Barclays Bank PLC Group refers to Barclays Bank PLC together with its subsidiaries. Unless otherwise stated, the income statement analysis compares the six months ended 30 June 2017 to the corresponding six months of 2016 and balance sheet analysis as at 30 June 2017 with comparatives relating to 31 December 2016 and 30 June 2016. The abbreviations ‘£m’ and ‘£bn’ represent millions and thousands of millions of Pounds Sterling respectively; the abbreviations ‘$m’ and ‘$bn’ represent millions and thousands of millions of US Dollars respectively; the abbreviations ‘€m’ and ‘€bn’ represent millions and thousands of millions of Euros respectively.

There are a number of key judgement areas, for example impairment calculations, which are based on models and which are subject to ongoing adjustment and modifications. Reported numbers reflect best estimates and judgements at the given point in time.

Relevant terms that are used in this document but are not defined under applicable regulatory guidance or International Financial Reporting Standards (IFRS) are explained in the results glossary that can be accessed at home.barclays/results.

The information in this announcement, which was approved by the Board of Directors on 27 July 2017, does not comprise statutory accounts within the meaning of Section 434 of the Companies Act 2006. Statutory accounts for the year ended 31 December 2016, which included certain information required for the Joint Annual Report on Form 20-F of Barclays PLC and Barclays Bank PLC to the US Securities and Exchange Commission (SEC) and which contained an unqualified audit report under Section 495 of the Companies Act 2006 (which did not make any statements under Section 498 of the Companies Act 2006) have been delivered to the Registrar of Companies in accordance with Section 441 of the Companies Act 2006.

These results will be furnished as a Form 6-K to the SEC as soon as practicable following their publication. Once furnished with the SEC, copies of the Form 6-K will also be available from the Barclays Investor Relations website home.barclays results and from the SEC’s website at www.sec.gov.

Barclays is a frequent issuer in the debt capital markets and regularly meets with investors via formal road-shows and other ad hoc meetings. Consistent with its usual practice, Barclays expects that from time to time over the coming quarter it will meet with investors globally to discuss these results and other matters relating to the Group.

Non-IFRS performance measures

Barclays management believes that the non-IFRS performance measures included in this document provide valuable information to the readers of the financial statements as 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 performance measures in this document are not a substitute for IFRS measures and readers should consider the IFRS measures as well. Refer to the appendix on pages 110-114 for further information, reconciliations and calculations of non-IFRS performance measures included throughout this document, and the most directly comparable IFRS measures.

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 the Group. Barclays cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures 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’, ‘projected’, ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘goal’, ‘believe’, ‘achieve’ or other words of similar meaning. Examples of forward-looking statements include, among others, statements or guidance regarding or relating to the Group’s future financial position, income growth, assets, impairment charges, provisions, notable items, business strategy, structural reform, capital, leverage and other regulatory ratios, payment of dividends (including dividend pay-out ratios and expected payment strategies), projected levels of growth in the banking and financial markets, projected costs or savings, original and revised commitments and targets in connection with the Group Strategy Update, rundown of assets and businesses within Barclays Non-Core, sell down of the Group’s interest in Barclays Africa Group Limited or the impact of any regulatory deconsolidation, estimates of capital expenditures and plans and objectives for future operations, projected employee numbers 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. These may be affected by changes in legislation, the development of standards and interpretations under International Financial Reporting Standards, evolving practices with regard to the interpretation and application of accounting and regulatory standards, the outcome of current and future legal proceedings and regulatory investigations, future levels of conduct provisions, future levels of notable items, the policies and actions of governmental and regulatory authorities, geopolitical risks and the impact of competition. In addition, factors including (but not limited to) the following may have an effect: capital, leverage and other regulatory rules (including with regard to the future structure of the Group) applicable to past, current and future periods; UK, US, Africa, Eurozone and global macroeconomic and business conditions; the effects of continued volatility in credit markets; market related risks such as changes in interest rates and foreign exchange rates; effects of changes in valuation of credit market exposures; changes in valuation of issued securities; volatility in capital markets; changes in credit ratings of any entities within the Group or any securities issued by such entities; the potential for one or more countries exiting the Eurozone; the implications of the exercise by the United Kingdom of Article 50 of the Treaty of Lisbon and the disruption that may result in the UK and globally from the withdrawal of the United Kingdom from the European Union; and the success of future acquisitions, disposals and other strategic transactions. A number of these influences and factors are beyond the Group’s control. As a result, the Group’s actual future results, dividend payments, and capital and leverage ratios may differ materially from the plans, goals, expectations and guidance set forth in the Group’s forward-looking statements. Additional risks and factors which may impact the Group’s future financial condition and performance are identified in our filings with the SEC (including, without limitation, our annual report on form 20-F for the fiscal year ended 31 December 2016), which are available on the SEC’s website at www.sec.gov.

Subject to our obligations under the applicable laws and regulations of the United Kingdom and the United States in relation to disclosure and ongoing information, we undertake no obligation to update publicly or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Presentation of Information

The condensed consolidated financial statements of Barclays Bank PLC are set out on pages 7 to 14 and the related Barclays PLC notes are on pages 68 to 109.

Further disclosures are contained in the Barclays PLC Results Announcement for the period ended 30 June 2017, including risk exposures and business performance, which are materially the same as those for Barclays Bank PLC. Refer to pages 15 to 65 and 110 to 115.

Barclays Bank PLC is a wholly owned subsidiary of Barclays PLC, which is the Group’s ultimate parent company. The business activities of Barclays Bank PLC Group and Barclays PLC Group are fundamentally the same as the only differences are the holding company, Barclays PLC and following a restructure in November 2016, the Group Service Company transferring from Barclays Bank PLC to Barclays PLC.

Differences between Barclays PLC and Barclays Bank PLC results can be summarised as follows:

●	Balance Sheet Asset size – Barclays PLC £1,135,316m, Barclays Bank PLC £1,136,867m
●	Income Statement Profit before tax – Barclays PLC £2,341m, Barclays Bank PLC £2,195m

The differences occur primarily due to the following reasons:

●	Funding structures
●	Cash flow hedging
●	Group Service Company

More detail regarding the main differences is described below.

Funding structures

	Barclays PLC	Barclays Bank PLC
	£m	£m
Preference shares	-	5,830
Other shareholders’ equity	-	271
Non-controlling interests (NCI)	2,397	84

Preference shares and capital notes issued by Barclays Bank PLC are included within share capital in Barclays Bank PLC, and where still outstanding are presented as non-controlling interests in the financial statements of Barclays PLC Group.

	Barclays PLC	Barclays Bank PLC
	£m	£m
Treasury shares	(28)	-

Barclays PLC shares held for the purposes of employee share schemes and for trading are recognised as available for sale investments and trading portfolio assets respectively within Barclays Bank PLC. Barclays PLC deducts these treasury shares from shareholders’ equity.


	Barclays PLC	Barclays Bank PLC
	£m	£m
Capital Redemption Reserve (CRR)	394	49

Arising from the redemption or exchange of Barclays PLC or Barclays Bank PLC shares respectively.


	Barclays PLC	Barclays Bank PLC
	£m	£m
Loans and advances to banks	37,108	37,512
Subordinated liabilities	23,879	24,271

Barclays Bank PLC has in issue two series of contingent capital notes (CCNs). These both pay interest and principal to the holder unless the consolidated CRD IV CET1 ratio (FSA October 2012 transitional statement) of Barclays PLC falls below 7%, in which case they are cancelled from the consolidated perspective. The coupon payable on the CCNs is higher than a market rate of interest for a similar note without this risk.

The accounting for these instruments differs between the consolidated financial statements of Barclays PLC and Barclays Bank PLC as follows:

	●	In the case of the 7.625% CCN issuance, the cancellation is effected by an automatic legal transfer of title from the holder to Barclays PLC. In these circumstances, Barclays Bank PLC remains liable to Barclays PLC. Barclays Bank PLC does not benefit from the cancellation feature although it pays a higher than market rate for a similar note, and therefore the initial fair value of the note recognised was higher than par. The difference between fair value and par is amortised to the income statement over time.
	●	In the case of the 7.75% CCN issuance, the cancellation is directly effected in Barclays Bank PLC. For Barclays Bank PLC, the cancellation feature is separately valued from the host liability as an embedded derivative with changes in fair value reported in the income statement. The initial fair value of the host liability recognised was higher than par by the amount of the initial fair value of the derivative and the difference is amortised to the income statement over time.

Cash flow hedging

	Barclays PLC	Barclays Bank PLC
	£m	£m
Income Statement
Net interest income	5,098	4,935
Tax	(778)	(729)
Equity
Cash flow hedging reserve	1,578	576

Barclays PLC cash flow hedging reserve is larger than Barclays Bank PLC, as Barclays Bank PLC is no longer exposed to the same variable rate cash flows. This is as a direct result of anticipated bank ring fencing and transfer of assets to an entity which is not expected to be consolidated by Barclays Bank PLC (although is expected to be consolidated by Barclays PLC). There is also a difference in the income statement due to variance in income and tax due to cash flow hedging not included in Barclays Bank PLC.

Group Service Company

The ownership of the Group Service Company was transferred in November 2016 contributing to the following key differences between Barclays PLC and Barclays Bank PLC.


	Barclays PLC	Barclays Bank PLC
	£m	£m
Staff costs	(4,460)	(3,356)
Administration and general expenses	(3,272)	(4,413)

Employees within the Group Service Company were reallocated from Barclays Bank PLC as part of the restructure. Therefore these staff costs are only shown in Barclays PLC. The Group Service Company recharges costs to Barclays Bank PLC leading to higher expenses. These are eliminated on consolidation in Barclays PLC.


	Barclays PLC	Barclays Bank PLC
	£m	£m
Prepayments, accrued income and other assets	3,072	4,505

Barclays Bank PLC recognises a receivable from the Group Service Company which is eliminated on consolidation in Barclays PLC. The Bank funded acquisition of shares on behalf of the Group Service Company to satisfy employee share awards creating a receivable of £1.6bn.


	Barclays PLC	Barclays Bank PLC
	£m	£m
Goodwill and intangibles	7,724	7,293
Property, plant and equipment	2,749	2,440
Customer accounts	436,863	439,221
Debt securities in issue	76,664	76,106
Provisions	3,930	3,785

The difference is driven by Group Service Company balances reflected in Barclays PLC only, or in the case of customer accounts, intercompany balances between the Group Service Company and Barclays Bank PLC, which eliminate on consolidation in Barclays PLC.

Statement of Directors’ Responsibilities

Each of the Directors (the names of whom are set out below) confirm that to the best of their knowledge, the condensed consolidated interim financial statements set out on pages 7 to 12 have been prepared in accordance with International Accounting Standard 34, ‘Interim Financial Reporting’, as adopted by the European Union, and that the interim management report herein includes a fair review of the information required by Disclosure and Transparency Rules 4.2.7R and 4.2.8R namely:

●	an indication of important events that have occurred during the six months ended 30 June 2017 and their impact on the condensed consolidated interim financial statements, and a description of the principal risks and uncertainties for the remaining six months of the financial year
●	any related party transactions in the six months ended 30 June 2017 that have materially affected the financial position or performance of Barclays during that period and any changes in the related party transactions described in the last Annual Report that could have a material effect on the financial position or performance of Barclays in the six months ended 30 June 2017.

Signed on behalf of the Board by

James E Staley Tushar Morzaria

Group Chief Executive Group Finance Director

Barclays Bank PLC Board of Directors:

Chairman

John McFarlane

Executive Directors

James E Staley (Group Chief Executive)

Tushar Morzaria (Group Finance Director)

Non-executive Directors

Mike Ashley

Tim Breedon CBE

Sir Ian Cheshire

Mary Francis CBE

Crawford Gillies

Sir Gerry Grimstone

Reuben Jeffery III

Dambisa Moyo

Diane Schueneman

Independent Review Report to Barclays Bank PLC

Independent review report to Barclays Bank PLC

Conclusion

We have been engaged by the company to review the condensed set of financial statements in the Results Announcement for the six months ended 30 June 2017 which comprises:

●	the condensed consolidated income statement and condensed consolidated statement of comprehensive income for the period then ended;
●	the condensed consolidated balance sheet as at 30 June 2017;
●	the condensed consolidated statement of changes in equity for the period then ended;
●	the condensed consolidated cash flow statement for the period then ended; and
●	the related explanatory notes on pages 2 to 4, 13, 14 and 68 to 109.

Based on our review, nothing has come to our attention that causes us to believe that the condensed set of financial statements in the Results Announcement for the six months ended 30 June 2017 is not prepared, in all material respects, in accordance with IAS 34 Interim Financial Reporting as adopted by the EU and the Disclosure Guidance and Transparency Rules (“the DTR”) of the UK’s Financial Conduct Authority (“the UK FCA”).

Scope of review

We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the Auditing Practices Board for use in the UK. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. We read the other information contained in the Results Announcement and consider whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements.

A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Directors’ responsibilities

The Results Announcement is the responsibility of, and has been approved by, the directors. The directors are responsible for preparing the Results Announcement in accordance with the DTR of the UK FCA.

As disclosed in note 1, the annual financial statements of the group are prepared in accordance with International Financial Reporting Standards as adopted by the EU. The directors are responsible for preparing the condensed set of financial statements included in the Results Announcement in accordance with IAS 34 as adopted by the EU.

Our responsibility

Our responsibility is to express to the company a conclusion on the condensed set of financial statements in the Results Announcement based on our review.

The purpose of our review work and to whom we owe our responsibilities

This report is made solely to the company in accordance with the terms of our engagement to assist the company in meeting the requirements of the DTR of the UK FCA. Our review has been undertaken so that we might state to the company those matters we are required to state to it in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our review work, for this report, or for the conclusions we have reached.

KPMG LLP

Chartered Accountants

15 Canada Square

London, E14 5GL

27 July 2017

Condensed Consolidated Financial Statements

Condensed consolidated income statement (unaudited)
		Half year ended	Half year ended
		30.06.17	30.06.16
Continuing operations	Notes1	£m	£m
Net interest income		4,935	6,187
Net fee and commission income		3,606	3,317
Net trading income		1,669	1,548
Net investment income		527	914
Other income		37	1
Total income		10,774	11,967
Credit impairment charges and other provisions		(1,054)	(931)
Net operating income		9,720	11,036

Staff costs		(3,356)	(4,601)
Administration and general expenses		(4,413)	(3,096)
Operating expenses		(7,769)	(7,697)

Profit/(loss) on disposal of undertakings and share of results of associates and joint ventures		244	(322)
Profit before tax		2,195	3,017
Tax		(729)	(984)
Profit after tax in respect of continuing operations		1,466	2,033
(Loss)/profit after tax in respect of discontinued operation		(2,195)	311
(Loss)/profit after tax		(729)	2,344

Attributable to:
Ordinary equity holders of the parent		(1,172)	1,979
Other equity holders		301	208
Total equity holders		(871)	2,187

Profit attributable to non-controlling interests in respect of continuing operations	2	2	2
Profit attributable to non-controlling interests in respect of discontinued operation	2	140	155
(Loss)/profit after tax		(729)	2,344

1	For notes specific to Barclays Bank PLC see pages 13 to 14 and for related Barclays PLC notes see pages 68 to 109.

Condensed consolidated statement of comprehensive income (unaudited)

		Half year ended	Half year ended
		30.06.17	30.06.16
	Notes1	£m	£m
(Loss)/profit after tax		(729)	2,344
Profit after tax in respect of continuing operations		1,466	2,033
(Loss)/profit after tax in respect of discontinued operation		(2,195)	311

Other comprehensive (loss)/income that may be recycled to profit or loss from continuing operations:
Currency translation reserve		(629)	1,789
Available for sale reserve		96	(317)
Cash flow hedge reserve		(382)	1,074
Other		14	(3)
Other comprehensive (loss)/income that may be recycled to profit or loss from continuing operations		(901)	2,543

Other comprehensive loss not recycled to profit or loss from continuing operations:
Retirement benefit remeasurements		(29)	(759)
Own credit2		22	-
Other comprehensive loss not recycled to profit or loss from continuing operations		(7)	(759)

Other comprehensive (loss)/income for the period from continuing operations		(908)	1,784

Other comprehensive income for the period from discontinued operation		1,301	985

Total comprehensive (loss)/income for the period:
Total comprehensive income for the period, net of tax from continuing operations		558	3,817
Total comprehensive (loss)/income for the period, net of tax from discontinued operation		(894)	1,296
Total comprehensive (loss)/income for the period		(336)	5,113

Attributable to:
Equity holders of the parent		(446)	4,548
Non-controlling interests		110	565
Total comprehensive (loss)/income for the period		(336)	5,113

For notes specific to Barclays Bank PLC see pages 13 to 14 and for related Barclays PLC notes see pages 68 to 109.

As a result of the early adoption of the own credit provisions of IFRS 9 on 1 January 2017, own credit which was previously recorded in the income statement is now recognised within other comprehensive income. The cumulative unrealised own credit net loss of £175m has therefore been reclassified from retained earnings to a separate own credit reserve, within Other reserves. During H117 a £22m gain on own credit has been booked in the reserve.

Condensed consolidated balance sheet (unaudited)
		As at	As at
		30.06.17	31.12.16
Assets	Notes1	£m	£m
Cash and balances at central banks		146,025	102,328
Items in the course of collection from other banks		1,226	1,467
Trading portfolio assets		90,684	80,255
Financial assets designated at fair value		107,197	78,608
Derivative financial instruments		260,034	346,820
Financial investments		61,814	63,365
Loans and advances to banks		37,512	43,634
Loans and advances to customers		390,468	392,783
Reverse repurchase agreements and other similar secured lending		17,209	13,454
Prepayments, accrued income and other assets		4,505	4,011
Investments in associates and joint ventures		715	684
Property, plant and equipment		2,440	2,466
Goodwill and intangible assets		7,293	7,348
Current and deferred tax assets		4,717	5,264
Retirement benefit assets		709	14
Assets included in disposal groups classified as held for sale		4,319	71,454
Total assets		1,136,867	1,213,955

Liabilities
Deposits from banks		48,941	48,214
Items in the course of collection due to other banks		778	636
Customer accounts		439,221	424,703
Repurchase agreements and other similar secured borrowing		38,578	19,760
Trading portfolio liabilities		40,470	34,687
Financial liabilities designated at fair value		125,348	96,032
Derivative financial instruments		260,765	340,487
Debt securities in issue		76,106	75,369
Subordinated liabilities		24,271	23,871
Accruals, deferred income and other liabilities		6,149	8,951
Provisions		3,785	3,909
Current and deferred tax liabilities		316	712
Retirement benefit liabilities		314	377
Liabilities included in disposal groups classified as held for sale		5,658	65,292
Total liabilities		1,070,700	1,143,000

Equity
Called up share capital and share premium	4	14,455	14,462
Other reserves		4,571	4,295
Retained earnings		39,321	42,190
Shareholders' equity attributable to ordinary shareholders of parent		58,347	60,947
Other equity instruments	5	7,736	6,486
Total equity excluding non-controlling interests		66,083	67,433
Non-controlling interests	2	84	3,522
Total equity		66,167	70,955
Total liabilities and equity		1,136,867	1,213,955

1	For notes specific to Barclays Bank PLC see pages 13 to 14 and for related Barclays PLC notes see pages 68 to 109.

Condensed consolidated statement of changes in equity (unaudited)
	Called up share capital and share premium1	Other equity instruments1	Other reserves	Retained earnings	Total	Non-controlling interests1	Total equity
Half year ended 30.06.17	£m	£m	£m	£m	£m	£m	£m
Balance as at 31 December 2016	14,462	6,486	4,295	42,190	67,433	3,522	70,955
Effects of changes in accounting policies2	-	-	(175)	175	-	-	-
Balance as at 1 January 2017	14,462	6,486	4,120	42,365	67,433	3,522	70,955
Profit after tax	-	301	-	1,163	1,464	2	1,466
Currency translation movements	-	-	(628)	-	(628)	(1)	(629)
Available for sale investments	-	-	96	-	96	-	96
Cash flow hedges	-	-	(382)	-	(382)	-	(382)
Retirement benefit remeasurements	-	-	-	(29)	(29)	-	(29)
Own credit	-	-	22	-	22	-	22
Other	-	-	-	14	14	-	14
Total comprehensive income net of tax from continuing operations	-	301	(892)	1,148	557	1	558
Total comprehensive income net of tax from discontinued operation	-	-	1,332	(2,335)	(1,003)	109	(894)
Total comprehensive income for the period	-	301	440	(1,187)	(446)	110	(336)
Issue and exchange of equity instruments	-	1,250	-	-	1,250	-	1,250
Other equity instruments coupons paid	-	(301)	-	82	(219)	-	(219)
Redemption of preference shares	(7)	-	11	(1,134)	(1,130)	-	(1,130)
Vesting of Barclays PLC shares under share-based payment schemes	-	-	-	(78)	(78)	-	(78)
Dividends paid	-	-	-	(299)	(299)	(173)	(472)
Net equity impact of partial BAGL disposal	-	-	-	(359)	(359)	(3,443)	(3,802)
Other reserve movements	-	-	-	(69)	(69)	68	(1)
Balance as at 30 June 2017	14,455	7,736	4,571	39,321	66,083	84	66,167

Half year ended 31.12.16
Balance as at 1 July 2016	14,466	5,350	4,064	42,743	66,623	2,976	69,599
Profit after tax	-	249	-	855	1,104	1	1,105
Currency translation movements	-	-	1,237	-	1,237	1	1,238
Available for sale investments	-	-	(39)	-	(39)	-	(39)
Cash flow hedges	-	-	(875)	-	(875)	-	(875)
Retirement benefit remeasurements	-	-	-	(221)	(221)	-	(221)
Other	(17)	-	-	67	50	-	50
Total comprehensive income net of tax from continuing operations	(17)	249	323	701	1,256	2	1,258
Total comprehensive income net of tax from discontinued operation	-	-	116	27	143	672	815
Total comprehensive income for the period	(17)	249	439	728	1,399	674	2,073
Issue and exchange of equity instruments	-	1,136	-	-	1,136	-	1,136
Other equity instruments coupons paid	-	(249)	-	70	(179)	-	(179)
Redemption of preference shares	6	-	(207)	(573)	(774)	-	(774)
Equity settled share schemes	-	-	-	351	351	-	351
Vesting of Barclays PLC shares under share-based payment schemes	-	-	-	(30)	(30)	-	(30)
Dividends paid	-	-	-	(294)	(294)	(137)	(431)
Net equity impact of Group Service Company disposal	-	-	-	(806)	(806)	-	(806)
Other reserve movements	7	-	(1)	1	7	9	16
Balance as at 31 December 2016	14,462	6,486	4,295	42,190	67,433	3,522	70,955

Details of Called up share capital and share premium, Other equity instruments and Non-controlling interests are shown on page 14.

Condensed consolidated statement of changes in equity (unaudited)
	Called up share capital and share premium1	Other equity instruments1	Other reserves	Retained earnings	Total	Non-controlling interests1	Total equity
Half year ended 30.06.16	£m	£m	£m	£m	£m	£m	£m
Balance as at 1 January 2016	14,472	5,350	933	43,350	64,105	1,914	66,019
Profit after tax	-	208	-	1,823	2,031	2	2,033
Currency translation movements	-	-	1,788	-	1,788	1	1,789
Available for sale investments	-	-	(317)	-	(317)	-	(317)
Cash flow hedges	-	-	1,074	-	1,074	-	1,074
Retirement benefit remeasurements	-	-	-	(759)	(759)	-	(759)
Other	-	-	-	(3)	(3)	-	(3)
Total comprehensive income net of tax from continuing operations	-	208	2,545	1,061	3,814	3	3,817
Total comprehensive income net of tax from discontinued operation	-	-	578	156	734	562	1,296
Total comprehensive income for the period	-	208	3,123	1,217	4,548	565	5,113
Issue of shares under employee share schemes	-	-	-	226	226	-	226
Other equity instruments coupons paid	-	(208)	-	58	(150)	-	(150)
Redemption of preference shares	(6)	-	8	(805)	(803)	-	(803)
Treasury shares	-	-	-	(384)	(384)	-	(384)
Dividends paid	-	-	-	(684)	(684)	(98)	(782)
Capital contribution from Barclays PLC	-	-	-	114	114	-	114
Net equity impact of partial BAGL disposal	-	-	-	(349)	(349)	601	252
Other reserve movements	-	-	-	-	-	(6)	(6)
Balance as at 30 June 2016	14,466	5,350	4,064	42,743	66,623	2,976	69,599

1	Details of Called up share capital and share premium, Other equity instruments and Non-controlling interests are shown on page 14.

Condensed consolidated cash flow statement (unaudited)
	Half year ended	Half year ended
	30.06.17	30.06.16
	£m	£m
Continuing operations
Profit before tax	2,195	3,017
Adjustment for non-cash items	895	(9,841)
Changes in operating assets and liabilities	31,807	25,086
Corporate income tax paid	(518)	(394)
Net cash from operating activities	34,379	17,868
Net cash from investing activities	2,071	14,376
Net cash from financing activities	849	(1,692)
Effect of exchange rates on cash and cash equivalents	(1,106)	6,897
Net increase in cash and cash equivalents from continuing operations	36,193	37,449
Net cash from discontinued operation	101	371
Net increase in cash and cash equivalents	36,294	37,820
Cash and cash equivalents at beginning of the period	143,932	86,556
Cash and cash equivalents at end of the period	180,226	124,376

Financial Statement Notes

1. Basis of preparation

These condensed consolidated interim financial statements for the six months ended 30 June 2017 have been prepared in accordance with the Disclosure and Transparency Rules of the Financial Conduct Authority and with IAS 34, ‘Interim Financial Reporting’, as published by the IASB and adopted by the European Union. The condensed consolidated interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 December 2016, which have been prepared in accordance with IFRSs as adopted by the European Union.

The accounting policies and methods of computation used in these condensed consolidated interim financial statements are the same as those used in the Barclays 2016 Annual Report, except for the option in IFRS 9 to recognise changes in own credit in other comprehensive income, which Barclays has applied from 1 January 2017. This will have no effect on net assets, and any changes due to own credit in prior periods have not been restated. Any realised and unrealised amounts recognised in other comprehensive income will not be reclassified to the income statement in future periods.

The main differences between Barclays PLC and Barclays Bank PLC results are set out on pages 2 to 4.

Future accounting developments

IFRS 9 – Financial instruments

IFRS 9 Financial Instruments which will replace IAS 39 Financial Instruments: Recognition and Measurement is effective for periods beginning on or after 1 January 2018 and was endorsed by the EU in November 2016. IFRS 9, in particular the impairment requirements, will lead to significant changes in the accounting for financial instruments. Barclays will not restate comparatives on initial application of IFRS 9 on 1 January 2018 but will provide detailed transition disclosures in accordance with the amended requirements of IFRS 7.

Barclays has a jointly accountable Risk and Finance IFRS 9 implementation programme with representation from all impacted departments.

In respect of the impairment and classification and measurement implementation programmes for financial assets, work has continued to prepare for adoption on 1 January 2018, with the focus during 2017 on quantifying impact, model validation and finalising processes, governance and controls.

As permitted by IFRS 9, Barclays will continue applying the IAS 39 hedge accounting requirements but will provide the new hedge accounting disclosures required by the amended IFRS 7.

Since the publication of the 2016 Annual Report, the IASB has issued an Exposure Draft potentially impacting financial assets with prepayment features with negative compensation. Such prepayment features are present in some fixed rate corporate and investment bank loans. If such loans are concluded to be measured at fair value through profit or loss, the potential impact on opening equity and profit or loss would depend on their fair values compared to their carrying amounts, and the future changes in fair value. The IASB is currently considering comments received on the proposals.

Barclays will disclose the financial impact estimates when the implementation programme, validation and testing is further advanced, which is expected to be no later than the Barclays Annual Report 2017.

For further information on this and other new standards refer to the Barclays 2016 Annual Report.

Going concern

Having reassessed the principal risks, the directors considered it appropriate to adopt the going concern basis of accounting in preparing the interim financial information.

2. Non-controlling interests
	Profit attributable to non-controlling interests		Equity attributable to non-controlling interests
	Half year ended	Half year ended	As at	As at
	30.06.17	30.06.16	30.06.17	31.12.16
	£m	£m	£m	£m
Barclays Africa Group Limited	140	155	-	3,507
Other non-controlling interests	2	2	84	15
Total	142	157	84	3,522

3. Dividends

	Half year ended	Half year ended
	30.06.17	30.06.16
Dividends paid during the period	£m	£m
Ordinary shares	165	502
Preference shares	134	182
Total	299	684

4. Called up share capital

Ordinary shares

At 30 June 2017 the issued ordinary share capital of Barclays Bank PLC comprised 2,342 million (December 2016: 2,342 million) ordinary shares of £1 each.

Preference shares

At 30 June 2017 the issued preference share capital of Barclays Bank PLC comprised 1,000 (December 2016: 1,000) Sterling Preference Shares of £1 each; 31,856 (December 2016: 31,856) Euro Preference Shares of €100 each; 20,930 (December 2016: 20,930) Sterling Preference Shares of £100 each; 58,133 (December 2016: 58,133) US Dollar Preference Shares of $100 each; and 106 million (December 2016: 161 million) US Dollar Preference Shares of $0.25 each. In the first quarter of 2017, 55 million US Dollar Preference Shares of $0.25 each were redeemed.

5. Other equity instruments

Other equity instruments of £7,736m (December 2016: £6,486m) include Additional Tier 1 (AT1) securities issued by Barclays Bank PLC. The AT1 securities are perpetual securities with no fixed maturity and are structured to qualify as AT1 instruments under CRD IV.

Appendix: Barclays PLC Results Announcement

Barclays PLC

Results Announcement

30 June 2017

Table of Contents

Results Announcement	Page
Notes	17
Performance Highlights	18-20
Group Chief Executive Officer’s Review	21
Group Finance Director’s Review	22-25
Results by Business
● Barclays UK	26-28
● Barclays International	29-31
● Head Office	32
● Barclays Non-Core	33-35
Discontinued Operation Results	36-37
Quarterly Results Summary	38-40
Quarterly Core Results by Business	41-45
Performance Management
● Margins and balances	46
Risk Management
● Overview	47
● Credit Risk	48-53
● Market Risk	54
● Treasury and Capital Risk	55-65
Statement of Directors’ Responsibilities	66
Independent Review Report to Barclays PLC	67
Condensed Consolidated Financial Statements	68-73
Financial Statement Notes	74-109
Appendix: Non-IFRS Performance Measures	110-114
Shareholder Information	115

BARCLAYS PLC, 1 CHURCHILL PLACE, LONDON, E14 5HP, UNITED KINGDOM. TELEPHONE: +44 (0) 20 7116 1000. COMPANY NO. 48839

Notes

The term Barclays or Group refers to Barclays PLC together with its subsidiaries. Unless otherwise stated, the income statement analysis compares the six months ended 30 June 2017 to the corresponding six months of 2016 and balance sheet analysis as at 30 June 2017 with comparatives relating to 31 December 2016 and 30 June 2016. The abbreviations ‘£m’ and ‘£bn’ represent millions and thousands of millions of Pounds Sterling respectively; the abbreviations ‘$m’ and ‘$bn’ represent millions and thousands of millions of US Dollars respectively; the abbreviations ‘€m’ and ‘€bn’ represent millions and thousands of millions of Euros respectively.

These results will be furnished as a Form 6-K to the SEC as soon as practicable following their publication. Once furnished with the SEC, copies of the Form 6-K will also be available from the Barclays Investor Relations website home.barclays/results and from the SEC’s website at www.sec.gov.

Non-IFRS performance measures

Forward-looking statements

Performance Highlights

Transatlantic Consumer, Corporate and Investment Bank with Global Reach

Key strategic milestones achieved with the closure of Non-Core on 1 July 2017, selldown in Africa and

a CET1 ratio of 13.1% within our end-state target range

● Returns:	● Group Return on Tangible Equity (RoTE) of (4.6%) (H116: 4.8%). Excluding a loss on the sale of 33.7% of Barclays Africa Group Limited’s (BAGL) issued share capital of £1.4bn, an impairment of Barclays’ holding in BAGL of £1.1bn and charges for Payment Protection Insurance (PPI) of £700m, Group RoTE was 8.1% ● Core RoTE of 7.3% (H116: 12.5%). Excluding charges for PPI, Core delivered a double digit RoTE of 10.4% on an average allocated tangible equity base that was £5bn higher year-on-year
● Non-Core rundown and closure:	● Closure of Non-Core on 1 July 2017 with risk weighted assets of £23bn (December 2016: £32bn), below guidance of approximately £25bn. Residual assets and liabilities are to be reintegrated into the Core ● Materially lower loss before tax of £647m (H116: £1,904m)
● Cost efficiency:	● Group cost: income ratio of 71% (H116: 70%) reflected a significant reduction in Non-Core costs to £284m (H116: £950m) and charges for PPI of £700m (H116: £400m) ● Remain on track to deliver Group cost: income ratio below 60% over time
● Barclays Africa Group Limited (BAGL):	● Sale of 33.7% of BAGL’s issued share capital, resulting in the accounting deconsolidation of BAGL ● 47bps increase in the Group’s Common Equity Tier 1 (CET1) ratio as a result of the sale and reflecting the proportional consolidation of BAGL for regulatory reporting purposes. Estimate a further c.26bps Group CET1 ratio accretion through to regulatory deconsolidation, which is expected, subject to regulatory approval, within the next 18 months ● H117 included an impairment of Barclays’ holding in BAGL of £1.1bn and a loss on the sale of 33.7% of BAGL’s issued share capital of £1.4bn, primarily due to recycling of currency translation reserve losses to the income statement
● Common Equity Tier 1 (CET1) ratio:	● CET1 ratio increased to 13.1% (December 2016: 12.4%) reflecting strong organic capital generation and the benefit of the sale of BAGL, partially offset by charges for PPI, pension contributions and the redemption of USD preference shares
● Holding Company (HoldCo) transition:	● Continued to transition to HoldCo funding with £7.6bn equivalent of issuance ● H117 included the redemption of $1.375bn 7.1% Series 3 USD preference shares

Improved Group profit before tax driven by reduced Non-Core drag

●	Group profit before tax increased 13% to £2,341m reflecting materially lower losses in Non-Core of £647m (H116: £1,904m), while Core profit before tax reduced 25% to £2,988m impacted by charges for PPI of £700m (H116: £400m) and the non-recurrence of the £615m gain on disposal of Barclays’ share of Visa Europe Limited in H116
●	Barclays UK RoTE of 4.6% (H116: 13.6%) and cost: income ratio of 72% (H116: 61%) reflected charges for PPI of £700m (H116: £400m). Net interest margin (NIM) improved 10bps to 3.69%, with net interest income increasing 2% to £3,045m
●	Barclays International RoTE of 12.4% (H116: 14.3%) reflected RoTE of 28.0% (H116: 50.9%) in Consumer, Cards and Payments and an improved RoTE of 9.7% (H116: 8.4%) in the Corporate and Investment Bank (CIB)
●	Loss after tax in respect of discontinued operation of £2,195m included an impairment of Barclays’ holding in BAGL of £1,090m and a loss on the sale of 33.7% of BAGL’s issued share capital of £1,435m, primarily due to recycling of currency translation reserve losses to the income statement
●	Group basic loss per share of (6.6p) (H116: earnings of 6.9p) with earnings per share in respect of continuing operations of 7.1p (H116: 6.0p). Excluding the loss on the sale of 33.7% of BAGL’s issued share capital, the impairment of Barclays’ holding in BAGL and charges for PPI of £700m, earnings per share were 11.8p
●	Tangible net asset value per share decreased to 284p (December 2016: 290p) as profit from continuing operations was offset by decreases across reserves

Barclays Group results
for the half year ended	30.06.17	30.06.16	YoY
	£m	£m	% Change
Total income	10,881	11,013	(1)
Credit impairment charges and other provisions	(1,054)	(931)	(13)
Net operating income	9,827	10,082	(3)
Operating expenses excluding litigation and conduct	(6,989)	(7,172)	3
Litigation and conduct	(743)	(525)	(42)
Operating expenses	(7,732)	(7,697)	-
Other net income/(expenses)	246	(322)
Profit before tax	2,341	2,063	13
Tax charge	(778)	(715)	(9)
Profit after tax in respect of continuing operations	1,563	1,348	16
(Loss)/profit after tax in respect of discontinued operation1	(2,195)	311
Non-controlling interests in respect of continuing operations	(138)	(186)	26
Non-controlling interests in respect of discontinued operation1	(140)	(155)	10
Other equity holders2	(301)	(208)	(45)
Attributable (loss)/profit	(1,211)	1,110

Performance measures
Return on average tangible shareholders' equity2	(4.6%)	4.8%
Average tangible shareholders' equity (£bn)	49	48
Cost: income ratio	71%	70%
Loan loss rate (bps)	49	39

Basic (loss)/earnings per share2	(6.6p)	6.9p
Basic earnings per share in respect of continuing operations2	7.1p	6.0p
Dividend per share	1.0p	1.0p

	As at	As at
Balance sheet and capital management	30.06.17	31.12.16
Tangible net asset value per share	284p	290p
Common equity tier 1 ratio	13.1%	12.4%
Common equity tier 1 capital	£42.8bn	£45.2bn
Risk weighted assets	£327bn	£366bn
UK leverage ratio (quarterly month end average)3	4.8%	4.5%
Fully loaded tier 1 capital (quarterly month end average)3	£52.1bn	£51.6bn
UK leverage exposure (quarterly month end average)3	£1,092bn	£1,137bn

Funding and liquidity
Group liquidity pool	£201bn	£165bn
CRD IV liquidity coverage ratio	149%	131%
Loan: deposit ratio4	81%	83%

1	Refer to pages 36-37 for further information relating to the Africa Banking discontinued operation. Loss after tax in respect of discontinued operation includes impairment of Barclays’ holding in BAGL of £1,090m and the loss on the sale of 33.7% of BAGL’s issued share capital of £1,435m in H117.
2	The profit after tax attributable to other equity holders of £301m (H116: £208m) is offset by a tax credit recorded in reserves of £82m (H116: £58m). The net amount of £219m (H116: £150m), along with non-controlling interests (NCI) is deducted from profit after tax in order to calculate earnings per share and return on average tangible shareholders’ equity.
3	The UK leverage ratio uses capital and exposure measures based on the average of the last day of each month in the quarter; additionally, the average exposure measure excludes qualifying central bank claims.
4	Loan: deposit ratio for Barclays UK, Barclays International and Non-Core, excluding investment banking businesses.

Barclays Core and Non-Core results	Barclays Core			Barclays Non-Core
for the half year ended	30.06.17	30.06.16	YoY	30.06.17	30.06.16	YoY
	£m	£m	% Change	£m	£m	% Change
Total income	11,411	11,599	(2)	(530)	(586)	10
Credit impairment charges and other provisions	(1,024)	(876)	(17)	(30)	(55)	45
Net operating income/(expenses)	10,387	10,723	(3)	(560)	(641)	13
Operating expenses excluding litigation and conduct	(6,733)	(6,315)	(7)	(256)	(857)	70
Litigation and conduct	(715)	(432)	(66)	(28)	(93)	70
Operating expenses	(7,448)	(6,747)	(10)	(284)	(950)	70
Other net income/(expenses)	49	(9)		197	(313)
Profit/(loss) before tax	2,988	3,967	(25)	(647)	(1,904)	66
Tax (charge)/credit	(1,060)	(1,181)	10	282	466	(39)
Profit/(loss) after tax	1,928	2,786	(31)	(365)	(1,438)	75
Non-controlling interests	(121)	(164)	26	(17)	(22)	23
Other equity holders	(264)	(178)	(48)	(37)	(30)	(23)
Attributable profit/(loss)1	1,543	2,444	(37)	(419)	(1,490)	72

Performance measures
Return on average allocated tangible equity	7.3%	12.5%
Average allocated tangible equity (£bn)1	45	40		5	8
Period end allocated tangible equity (£bn)1	44	41		4	8
Cost: income ratio	65%	58%		n/m	n/m
Loan loss rate (bps)	54	43		12	15
Basic earnings/(loss) per share contribution	9.5p	14.8p		(2.4p)	(8.8p)

	As at	As at		As at	As at
Capital management	30.06.17	31.12.16		30.06.17	31.12.16
Risk weighted assets1	£304.6bn	£333.5bn		£22.8bn	£32.1bn
UK leverage exposure (quarterly month end average)1	£997bn	£1,026bn		£95bn	£111bn

1	Attributable profit in respect of the Africa Banking discontinued operation is reported at the Group level only. Allocated tangible equity, RWAs and leverage exposure are reported in Head Office within Core.

	Half year ended	Half year ended
	30.06.17	30.06.16	YoY
Income by business	£m	£m	% Change
Barclays UK	3,661	3,746	(2)
Barclays International	7,748	7,552	3
Head Office	2	301	(99)
Barclays Core	11,411	11,599	(2)
Barclays Non-Core	(530)	(586)	10
Barclays Group	10,881	11,013	(1)

Profit/(loss) before tax by business
Barclays UK	634	1,080	(41)
Barclays International	2,617	2,753	(5)
Head Office	(263)	134
Barclays Core	2,988	3,967	(25)
Barclays Non-Core	(647)	(1,904)	66
Barclays Group	2,341	2,063	13

Group Chief Executive Officer’s Review

“The second quarter saw us complete two critically important planks of our strategy; both of them ahead of schedule.

First, we reduced our majority shareholding in Barclays Africa Group Limited to a level which allows us to apply for regulatory deconsolidation, and we expect to achieve that in 2018. We have permission to apply proportional consolidation to our reduced shareholding, which means that our CET1 ratio stands at 13.1% today, within our end-state target range. We will realise a further c.26bps uplift resulting from the sale.

Second, we completed the accelerated rundown of our Non-Core unit to below our target of £25bn in Risk Weighted Assets, allowing us to close it 6 months early and incorporate the residual assets back into the Core.

Accomplishing both of these milestones marks an end to the restructuring of the Barclays Group, and brings forward the date when our shareholders can benefit from the full earnings power of this business.

That power is evident once again in the performance reported today. At the half year, Group profit before tax increased 13% to £2,341m. Our strong businesses, Barclays UK and Barclays International, posted attractive Returns on Tangible Equity of 20.4% - excluding the provision for PPI - and 12.4% respectively.

Our business is now radically simplified, the restructuring is complete, our capital ratio is within our end-state target range, and while we are also working to put conduct issues behind us, we can now focus on what matters most to our shareholders: improving Group returns.

We have accordingly established a new target today which is to achieve a greater than 10% Group Return on Tangible Equity over time.

Finally we will, at the full year results early next year, provide investors with an updated capital management policy for the Group.”

James E Staley, Group Chief Executive Officer

Group Finance Director’s Review

Results for the first half of the year demonstrated significant progress against the Group’s strategy, evidenced by solid underlying Core performance, materially lower losses in Non-Core, the sell down to a target stake in BAGL and further progress on capital. The Core business reported a double digit RoTE of 10.4%, excluding the impact of charges for PPI, on a materially increased average tangible equity base. The closure of Non-Core on 1 July 2017 represented a significant milestone in the restructuring of the bank, with RWAs of £23bn, less than the previous guidance of c.£25bn, and the sale of a 33.7% stake in BAGL resulted in the accounting deconsolidation of the entity. Group H117 results were impacted by a loss on the sale of, and an impairment of Barclays’ holding in, BAGL. The Group’s CET1 ratio benefitted by 47bps from the sale and reflecting the proportional consolidation of BAGL, which, along with underlying organic capital generation, contributed to the capital ratio increasing to 13.1%, within the end-state target range.

Group performance

●	Profit before tax increased 13% to £2,341m, driven by materially reduced losses from the Non-Core which reported a loss before tax of £647m (H116: £1,904m). Core profits decreased 25% to £2,988m, impacted by charges for PPI of £700m (H116: £400m) and the non-recurrence of a £615m gain on disposal of Barclays’ share of Visa Europe Limited in H116. H117 results were also impacted by the appreciation of average USD and EUR against GBP of 12% and 10% respectively, compared to H116, which positively impacted income and adversely affected impairment and operating expenses
●	Total income decreased 1% to £10,881m, reflecting a 2% reduction in income in the Core to £11,411m, predominantly in Head Office, partially offset by a 10% reduction in Non-Core negative income to £530m. Income increased 3% in Barclays International, with growth across both CIB and Consumer, Cards and Payments, though decreased 2% in Barclays UK, impacted by the non-recurrence of a gain on disposal of Barclays’ share of Visa Europe Limited in H116
●	Credit impairment charges increased £123m to £1,054m, driven by a 53% increase in Consumer, Cards and Payments, mainly reflecting a change in portfolio mix, an increase in underlying delinquency trends in US Cards and business growth, partially offset by lower impairment in CIB. As a result, the Group loan loss rate increased 10bps to 49bps
●	Operating expenses were broadly in line at £7,732m (H116: £7,697m), driven by a 10% increase in Core to £7,448m due to charges for PPI, the impact of the change in compensation awards introduced in Q416 and business growth and investment, which more than offset cost efficiencies. Non-Core operating expenses reduced 70% to £284m as the segment continued to be rundown
●	Other net income increased to £246m (H116: £322m expense) reflecting a gain of £109m on the sale of Barclays’ share in VocaLink to MasterCard and a gain of £76m on the sale of a joint venture in Japan. A gain of £189m on the sale of Barclays Bank Egypt was broadly offset by the recycling of £180m of currency translation reserve losses to the income statement
●	Loss after tax in respect of the Africa Banking discontinued operation of £2,195m (H116: profit of £311m) included a £1,090m impairment of Barclays’ holding in BAGL and a £1,435m loss on the sale of 33.7% of BAGL’s issued share capital, primarily due to recycling of currency translation reserve losses to the income statement on accounting deconsolidation
●	RoTE was (4.6%) (H116: 4.8%) and basic loss per share was (6.6p) (H116: earnings of 6.9p). Excluding the impact of the loss on the sale of 33.7% of BAGL’s issued share capital, the impairment of Barclays’ holding in BAGL and charges for PPI RoTE, was 8.1% and earnings per share were 11.8p

Core performance

●	The Core business generated an RoTE of 7.3% (H116: 12.5%), though excluding charges for PPI delivered a double digit RoTE of 10.4%
●	Profit before tax decreased 25% to £2,988m mainly due to the impact of charges for PPI of £700m (H116: £400m) and the non-recurrence of the gain on disposal of Barclays’ share of Visa Europe Limited of £615m in H116
●	Total income decreased 2% to £11,411m driven by reduced income in Head Office, primarily due to the non-recurrence of own credit gains in H116, and in Barclays UK, mainly due to the non-recurrence of the gain on disposal of Barclays’ share of Visa Europe Limited. This was partially offset by 3% growth in Barclays International, with growth across both CIB and Consumer, Cards and Payments
●	Credit impairment charges increased 17% to £1,024m, driven by increased impairment in Consumer, Cards and Payments mainly reflecting a change in portfolio mix, an increase in underlying delinquency trends in US Cards and business growth. The Core loan loss rate increased 11bps to 54bps
●	Operating expenses increased 10% to £7,448m driven by charges for PPI, the change in compensation awards introduced in Q416, higher structural reform programme costs and business growth and investment in Consumer, Cards and Payments
●	Other net income of £49m (H116: £9m expense) reflected a gain of £109m on the sale of Barclays’ share in VocaLink to MasterCard and a gain of £76m on the sale of a joint venture in Japan, offset by an expense of £180m on the recycling of the currency translation reserve to the income statement on the sale of Barclays Bank Egypt

Barclays UK

●	RoTE reduced to 4.6% (H116: 13.6%) with a 41% decrease in profit before tax to £634m due to charges for PPI of £700m (H116: £400m) and the non-recurrence of the £151m gain on disposal of Barclays’ share of Visa Europe Limited in H116
●	Total income decreased 2% to £3,661m driven by the non-recurrence of the £151m gain on disposal of Barclays’ share of Visa Europe Limited in H116 and the impact of the UK base rate reduction in 2016, partially offset by pricing initiatives and deposit growth. The net interest margin increased 10bps to 3.69%
●	Credit impairment charges increased £32m year-on-year to £398m, reflecting higher charge-offs in Personal Banking and the higher recoveries in H116. Underlying delinquency trends reduced year-on-year, with 30 and 90 day arrears rates in UK Cards improving year-on-year to 2.0% (H116: 2.3%) and 0.9% (H116: 1.2%) respectively
●	Operating expenses increased 14% to £2,628m, due to charges for PPI of £700m (H116: £400m), the costs of setting up the ring-fenced bank and investment in cyber resilience and technology, partially offset by cost efficiencies

Barclays International

●	RoTE of 12.4% (H116: 14.3%) reflected an improved RoTE of 9.7% in CIB (H116: 8.4%) and an RoTE of 28.0% (H116: 50.9%) in Consumer, Cards and Payments
●	Profit before tax decreased 5% to £2,617m driven by an increase in operating expenses and impairment, partially offset by higher income
●	Total income increased 3% to £7,748m, including the appreciation of average USD and EUR against GBP, with growth in both CIB and Consumer, Cards and Payments. CIB income increased 3% to £5,346m driven by higher Banking income, partially offset by a decrease in Macro income, while Consumer, Cards and Payments income increased 2% to £2,402m including growth in US Cards
●	Credit impairment charges increased 23% to £625m driven by Consumer, Cards and Payments, which increased 53% to £575m, due to a change in portfolio mix, an increase in underlying delinquency trends in US Cards, business growth and the appreciation of average USD and EUR against GBP. CIB credit impairment charges reduced 62% to £50m due to the non-recurrence of oil and gas single name charges in H116
●	Total operating expenses increased 10% to £4,720m, including the appreciation of average USD and EUR against GBP. CIB operating expenses increased 7% to £3,697m reflecting the change in compensation awards introduced in Q416 and higher structural reform programme costs, partially offset by a reduction in restructuring charges and cost efficiencies. Consumer, Cards and Payments operating expenses increased 21% to £1,023m including continued growth and investment
●	Other net income increased to £214m (H116: £19m) reflecting a gain of £109m on the sale of Barclays’ share in VocaLink to MasterCard and a gain of £76m on the sale of a joint venture in Japan

Head Office

●	Income reduced £299m to £2m, primarily due to the early adoption of the own credit provisions of IFRS 9 and lower net income from treasury operations. Own credit, which was previously recorded in the income statement (H116: gain of £183m) is now recognised within other comprehensive income
●	Loss before tax of £263m (H116: profit of £134m) included an expense of £180m on the recycling of the currency translation reserve to the income statement on the sale of Barclays Bank Egypt

Non-Core performance

●	Non-Core to close on 1 July 2017, with residual assets and liabilities to be reintegrated into the Core and, as previously guided to, it is expected that risk weighted assets and loss before tax previously associated with Non-Core will continue to reduce in future periods
●	Progress on the rundown continued with RWAs reduced to £22.8bn (December 2016: £32.1bn), below guidance of approximately £25bn, driven by a £5bn reduction in Derivatives, a £2bn reduction in Businesses and a £1bn reduction in Securities and loans
●	Loss before tax decreased to £647m (H116: £1,904m) driven by lower operating expenses, favourable fair value movements on the Education, Social Housing and Local Authority (ESHLA) portfolio, the non-recurrence of impairment associated with the valuation of the French retail business in H116 and a £189m gain on the sale of Barclays Bank Egypt
●	Total income increased £56m to a net expense of £530m driven by increased Securities and loans income primarily due to positive fair value movements on the ESHLA portfolio. This was offset by reduced Derivatives income, reflecting increased cost of exits, and lower Businesses income following the completion of the sale of the Italian retail, Southern European cards and Barclays Bank Egypt businesses
●	Operating expenses improved 70% to £284m reflecting the completion of the sale of several businesses, a reduction in restructuring charges, and lower litigation and conduct charges
●	Other net income increased to £197m (H116: £313m expense) reflecting a £189m gain on sale of Barclays Bank Egypt and the non-recurrence of impairment associated with the valuation of the French retail business in H116

Group capital and leverage

●	The fully loaded CET1 ratio increased to 13.1% (December 2016: 12.4%) principally due to a reduction in RWAs of £38.2bn to £327.4bn. CET1 capital decreased £2.4bn to £42.8bn
	–	Profits relating to continuing operations were largely offset by decreases in other qualifying reserves as a result of the redemption of USD preference shares, the separation payments relating to the BAGL disposal and increased pension deductions. CET1 capital further decreased by £1.8bn as a result of BAGL minority interest no longer being included under proportional consolidation
	–	Losses relating to the discontinued operation due to the impairment allocated to the goodwill of Barclays’ holding in BAGL and the recycling of the BAGL currency translation reserve losses to the income statement had no impact on CET1 capital
	–	The decrease in RWAs principally reflected the £27.9bn reduction as a result of the proportional consolidation of BAGL following the selldown of Barclays’ holding, as well as reductions in Non-Core
●	The average UK leverage ratio increased to 4.8% (December 2016: 4.5%) driven by an increase in the average fully loaded Tier 1 capital to £52.1bn (December 2016: £51.6bn) and a decrease in the average UK leverage exposure to £1,092bn (December 2016: £1,137bn)
●	Tangible net asset value per share decreased to 284p (December 2016: 290p) primarily due to profit after tax excluding additional charges for PPI being more than offset by the redemption of USD preference shares, dividends paid and reduction in reserves including the currency translation and cash flow hedge reserves

Group funding and liquidity

●

The Group continued to maintain surpluses to its internal and regulatory requirements. The liquidity pool increased to £201bn (December 2016: £165bn). The increase in the liquidity pool was driven by a net increase in minimum requirement for own funds and eligible liabilities (MREL) issuance, drawdown from the Bank of England Term Funding Scheme, higher money market balances and deposit growth. The liquidity coverage ratio (LCR) increased to 149% (December 2016: 131%), equivalent to a surplus of £65bn (December 2016: £39bn) to 100%, reflecting our approach to build a conservative liquidity position

●

Wholesale funding outstanding excluding repurchase agreements was £163bn (December 2016: £158bn). The Group issued £7.6bn equivalent of capital and term senior unsecured debt from Barclays PLC (HoldCo) of which £4.8bn was in public senior unsecured debt, and £2.8bn in capital instruments. In the same period, £4.7bn of Barclays Bank PLC (OpCo) capital and senior public term instruments either matured or were redeemed, including the $1.375bn 7.1% Series 3 USD preference shares

Other matters

●	On 1 June 2017, Barclays sold 286 million ordinary shares of BAGL, representing 33.7% of BAGL’s issued share capital. The sale resulted in the accounting deconsolidation of BAGL from the Barclays Group. Following the sale, BAGL is accounted for as an Available for Sale (AFS) asset in Barclays’ financial statements and is no longer reported as a discontinued operation. The Group’s CET1 ratio increased 47bps as a result of the sale and reflecting the proportional consolidation of BAGL for regulatory reporting purposes
●	As at 30 June 2017, Barclays accounted for 139 million ordinary shares in BAGL, representing 16.4% of BAGL’s issued share capital. Barclays had an obligation at this date to contribute 1.5% of BAGL’s ordinary shares or the cash equivalent to a Black Economic Empowerment scheme. At 30 September 2017, Barclays will account for 126 million ordinary shares in BAGL, currently representing 14.9% of BAGL’s issued share capital
●	The latest triennial valuation of the UK Retirement Fund (UKRF) with an effective date of 30 September 2016 has been completed and showed a funding deficit of £7.9bn and funding level of 81.5%, versus a £6.0bn funding deficit at the 30 September 2015 update. Amongst other measures, Barclays and the UKRF agreed a recovery plan with revised deficit reduction contributions of £740m in 2017 (of which £620m has been paid in H117), £500m per annum in 2018 to 2020, and £1,000m per annum in 2021 to 2026
●	Additional charges of £700m (H116: £400m) relating to PPI were recognised in Q217, primarily to reflect higher than expected complaints flow in the year to date. The remaining PPI provision as at June 2017 was £2,109m (December 2016: £1,979m)
●	Certain legal proceedings and investigations relating to legacy issues remain outstanding. Resolving outstanding legacy issues in an appropriate timeframe will continue to be a priority. Please see Note 19 to the financial statements for details of relevant matters

Dividends

●	An interim dividend of 1.0p per share will be paid on 18 September 2017

Outlook and financial targets

●	The Group remains focused on cost efficiency, creating capacity to self-fund investment in our businesses, and continues to target a Group cost: income ratio of less than 60% over time
●	Following the closure of the Non-Core segment on 1 July 2017, the Group’s previous returns target of converging Group returns with Core returns is transitioned to a target of achieving a Group RoTE of greater than 10.0% over time, underpinned by a combination of cost focus and redeployment of capital from business lines delivering inadequate returns
●	The Group expects the dividend for the full year to total 3.0p per share as previously guided. The Group will update the market on its updated capital management framework including the dividend policy at the full year results in February 2018

Tushar Morzaria, Group Finance Director

Results by Business

Barclays UK	Half year ended	Half year ended
Barclays UK	30.06.17	30.06.16	YoY
Income statement information	£m	£m	% Change
Net interest income	3,045	2,977	2
Net fee, commission and other income	616	769	(20)
Total income	3,661	3,746	(2)
Credit impairment charges and other provisions	(398)	(366)	(9)
Net operating income	3,263	3,380	(3)
Operating expenses excluding litigation and conduct	(1,933)	(1,899)	(2)
Litigation and conduct	(695)	(400)	(74)
Operating expenses	(2,628)	(2,299)	(14)
Other net expenses	(1)	(1)	-
Profit before tax	634	1,080	(41)
Attributable profit	185	608	(70)

	As at 30.06.17	As at 31.12.16	As at 30.06.16
Balance sheet information	£bn	£bn	£bn
Loans and advances to customers at amortised cost	166.6	166.4	166.0
Total assets	203.4	209.6	204.6
Customer deposits	187.4	189.0	181.7
Risk weighted assets	66.1	67.5	67.1

	Half year ended	Half year ended
Key facts	30.06.17	30.06.16
Average LTV of mortgage portfolio1	47%	47%
Average LTV of new mortgage lending1	62%	63%
Number of branches	1,295	1,331
Barclays mobile banking active customers	5.9m	5.1m
30 day arrears rate - Barclaycard Consumer UK	2.0%	2.3%

Performance measures
Return on average allocated tangible equity	4.6%	13.6%
Average allocated tangible equity (£bn)	8.8	9.1
Cost: income ratio	72%	61%
Loan loss rate (bps)	47	43
Loan: deposit ratio	89%	91%
Net interest margin	3.69%	3.59%

1	Average LTV of mortgage portfolio and new mortgage lending calculated on the balance weighted basis.

Analysis of Barclays UK	Half year ended	Half year ended
Analysis of Barclays UK	30.06.17	30.06.16	YoY
Analysis of total income	£m	£m	% Change
Personal Banking	1,877	1,987	(6)
Barclaycard Consumer UK	993	954	4
Wealth, Entrepreneurs & Business Banking	791	805	(2)
Total income	3,661	3,746	(2)

Analysis of credit impairment charges and other provisions
Personal Banking	(106)	(86)	(23)
Barclaycard Consumer UK	(272)	(274)	1
Wealth, Entrepreneurs & Business Banking	(20)	(6)
Total credit impairment charges and other provisions	(398)	(366)	(9)

	As at 30.06.17	As at 31.12.16	As at 30.06.16
Analysis of loans and advances to customers at amortised cost	£bn	£bn	£bn
Personal Banking	136.5	135.0	134.7
Barclaycard Consumer UK	16.2	16.5	16.2
Wealth, Entrepreneurs & Business Banking	13.9	14.9	15.1
Total loans and advances to customers at amortised cost	166.6	166.4	166.0

Analysis of customer deposits
Personal Banking	138.5	139.3	134.8
Barclaycard Consumer UK	-	-	-
Wealth, Entrepreneurs & Business Banking	48.9	49.7	46.9
Total customer deposits	187.4	189.0	181.7

Barclays UK

Income statement – H117 compared to H116

●	Profit before tax decreased 41% to £634m primarily due to charges for PPI of £700m (H116: £400m) and the non-recurrence of the £151m gain on disposal of Barclays’ share in Visa Europe Limited in H116
●	Total income decreased 2% to £3,661m due to the non-recurrence of the £151m gain on disposal of Barclays’ share of Visa Europe Limited in H116 and the impact of the UK base rate reduction in 2016, partially offset by pricing initiatives and deposit growth
	–	Personal Banking income decreased 6% to £1,877m driven by the non-recurrence of the gain on disposal of Barclays’ share of Visa Europe Limited in H116, the impact of the UK base rate reduction in 2016 and asset margin pressure, partially offset by pricing initiatives and deposit growth
	–	Barclaycard Consumer UK income increased 4% to £993m reflecting improved margins
	–	Wealth, Entrepreneurs & Business Banking (WEBB) decreased 2% to £791m due to the non-recurrence of the gain on disposal of Barclays’ share of Visa Europe Limited in H116, partially offset by deposit pricing initiatives and balance growth
	–	Net interest income increased 2% to £3,045m due to deposit pricing initiatives and balance growth
	–	Net interest margin increased 10bps to 3.69% reflecting higher margins on Personal Banking deposits, partially offset by lower asset margins
	–	Net fee, commission and other income decreased 20% to £616m due to the non-recurrence of the gain on disposal of Barclays’ share of Visa Europe Limited in H116
●	Credit impairment charges increased £32m to £398m reflecting higher charge-offs in Personal Banking and higher recoveries in H116. Underlying delinquency trends reduced year-on-year, with 30 day and 90 day arrears rates in UK cards improving year-on-year at 2.0% (H116: 2.3%) and 0.9% (H116: 1.2%) respectively
●	Total operating expenses increased 14% to £2,628m due to charges for PPI of £700m (H116: £400m), the costs of setting up the ring-fenced bank and investment in cyber resilience and technology, partially offset by cost efficiencies

Balance sheet – 30 June 2017 compared to 31 December 2016

●	Loans and advances to customers were broadly in line at £166.6bn (December 2016: £166.4bn)
●	Total assets decreased 3% to £203.4bn primarily due to a reduction in the allocated liquidity pool
●	Customer deposits decreased 1% to £187.4bn reflecting the realignment of certain clients between Barclays UK and Barclays International in preparation for structural reform, partially offset by underlying deposit growth
●	RWAs reduced to £66.1bn (December 2016: £67.5bn) reflecting the realignment of certain clients between Barclays UK and Barclays International in preparation for structural reform

Barclays International	Half year ended	Half year ended
Barclays International	30.06.17	30.06.16	YoY
Income statement information	£m	£m	% Change
Net interest income	2,172	2,111	3
Net trading income	2,221	2,375	(6)
Net fee, commission and other income	3,355	3,066	9
Total income	7,748	7,552	3
Credit impairment charges and other provisions	(625)	(509)	(23)
Net operating income	7,123	7,043	1
Operating expenses excluding litigation and conduct	(4,711)	(4,295)	(10)
Litigation and conduct	(9)	(14)	36
Operating expenses	(4,720)	(4,309)	(10)
Other net income	214	19
Profit before tax	2,617	2,753	(5)
Attributable profit	1,656	1,746	(5)

	As at 30.06.17	As at 31.12.16	As at 30.06.16
Balance sheet information	£bn	£bn	£bn
Loans and advances to banks and customers at amortised cost1	204.8	211.3	230.6
Trading portfolio assets	83.3	73.2	68.1
Derivative financial instrument assets	108.4	156.2	181.4
Derivative financial instrument liabilities	116.8	160.6	187.5
Reverse repurchase agreements and other similar secured lending	17.2	13.4	19.7
Financial assets designated at fair value	94.1	62.3	68.3
Total assets	681.6	648.5	679.9
Customer deposits2	230.3	216.2	226.5
Risk weighted assets	212.2	212.7	209.3

	Half year ended	Half year ended
Performance measures	30.06.17	30.06.16
Return on average allocated tangible equity	12.4%	14.3%
Average allocated tangible equity (£bn)	27.5	25.0
Cost: income ratio	61%	57%
Loan loss rate (bps)	61	44
Loan: deposit ratio	80%	90%
Net interest margin	4.06%	3.90%

As at 30 June 2017 loans and advances included £183.9bn (December 2016: £185.9bn) of loans and advances to customers (including settlement balances of £31.6bn (December 2016: £19.5bn) and cash collateral of £26.9bn (December 2016: £30.1bn)), and £20.9bn (December 2016: £25.4bn) of loans and advances to banks (including settlement balances of £5.7bn (December 2016: £1.7bn) and cash collateral of £5.4bn (December 2016: £6.3bn)). Loans and advances to banks and customers in respect of Consumer, Cards and Payments were £38.5bn (December 2016: £39.7bn).

As at 30 June 2017 customer deposits included settlement balances of £29.4bn (December 2016: £16.6bn) and cash collateral of £16.2bn (December 2016: £20.8bn).

Analysis of Barclays International
	Half year ended	Half year ended
Corporate and Investment Bank	30.06.17	30.06.16	YoY
Income statement information	£m	£m	% Change
Analysis of total income
Credit	695	591	18
Equities	917	919	-
Macro	946	1,185	(20)
Markets	2,558	2,695	(5)
Banking fees	1,400	1,103	27
Corporate lending	547	608	(10)
Transactional banking	802	798	1
Banking	2,749	2,509	10
Other	39	3
Total income	5,346	5,207	3
Credit impairment charges and other provisions	(50)	(132)	62
Operating expenses	(3,697)	(3,465)	(7)
Other net income	116	-
Profit before tax	1,715	1,610	7

	As at 30.06.17	As at 31.12.16	As at 30.06.16
Balance sheet information	£bn	£bn	£bn
Risk weighted assets	178.9	178.6	178.4

	Half year ended	Half year ended
Performance measures	30.06.17	30.06.16
Return on average allocated tangible equity	9.7%	8.4%
Average allocated tangible equity (£bn)	23.3	21.5

	Half year ended	Half year ended
Consumer, Cards and Payments	30.06.17	30.06.16	YoY
Income statement information	£m	£m	% Change
Total income	2,402	2,345	2
Credit impairment charges and other provisions	(575)	(377)	(53)
Operating expenses	(1,023)	(844)	(21)
Other net income	98	19
Profit before tax	902	1,143	(21)

	As at 30.06.17	As at 31.12.16	As at 30.06.16
Balance sheet information	£bn	£bn	£bn
Loans and advances to banks and customers at amortised cost	38.5	39.7	35.4
Customer deposits	57.3	50.0	46.9
Risk weighted assets	33.3	34.1	30.9

	Half year ended	Half year ended
Key facts	30.06.17	30.06.16
30 day arrears rates – Barclaycard US	2.2%	2.2%
Total number of Barclaycard business clients	364,000	350,000
Value of payments processed	£157bn	£141bn

Performance measures
Return on average allocated tangible equity	28.0%	50.9%
Average allocated tangible equity (£bn)	4.2	3.5

Barclays International

Income statement – H117 compared to H116

●	Profit before tax decreased 5% to £2,617m driven by a 10% increase in total operating expenses and a 23% increase in impairment, partially offset by a 3% increase in total income
●	Total income increased 3% to £7,748m, including the appreciation of average USD and EUR against GBP, as CIB income increased 3% to £5,346m and Consumer, Cards and Payments income increased 2% to £2,402m
–	Markets income decreased 5% to £2,558m
	–	Credit income increased 18% to £695m driven by improved performance in the European business and increased municipals income
	–	Equities income was broadly in line at £917m (H116: £919m) driven by lower US equity derivatives revenue, offset by improved performance in cash equities and equity financing
	–	Macro income decreased 20% to £946m driven by lower market volatility in rates and the impact of exiting energy-related commodities
–	Banking income increased 10% to £2,749m
	–	Banking fees income increased 27% to £1,400m, driven by higher debt underwriting, equity underwriting and advisory fees, with fee share up in all products
	–	Corporate lending reduced 10% to £547m primarily due to higher losses on fair value hedges, a reduction in work-out gains and reduced balances
	–	Transactional banking income increased 1% to £802m as higher deposit balances were partially offset by margin compression in a low base rate environment
–	Consumer, Cards and Payments income increased 2% to £2,402m driven by continued growth, a gain of £192m relating to an asset sale in US cards and a valuation gain on Barclays’ preference shares in Visa Inc. of £74m, partially offset by the non-recurrence of the gain on the disposal of Barclays’ share of Visa Europe Limited of £464m in H116
●	Credit impairment charges increased 23% to £625m including the appreciation of average USD and EUR against GBP
–	CIB credit impairment charges reduced 62% to £50m due to the non-recurrence of oil and gas single name charges in H116
–	Consumer, Cards and Payments credit impairment charges increased 53% to £575m primarily driven by a change in portfolio mix, an increase in underlying delinquency trends in US cards and business growth. 30 and 90 days arrears rates within US Cards were broadly stable at 2.2% (H116: 2.2%) and 1.1% (H116: 1.0%) respectively, including a benefit from the Q117 asset sale in US cards
●	Total operating expenses increased 10% to £4,720m, including the appreciation of average USD and EUR against GBP
–	CIB increased 7% to £3,697m reflecting the change in compensation awards introduced in Q416 and higher structural reform programme costs, partially offset by a reduction in restructuring charges and cost efficiencies
–	Consumer, Cards and Payments increased 21% to £1,023m including continued growth and investment, primarily within the US Cards and merchant acquiring businesses
●	Other net income increased to £214m (H116: £19m) due to a gain of £109m on the sale of Barclays’ share in VocaLink to MasterCard and a gain of £76m on the sale of a joint venture in Japan

Balance sheet – 30 June 2017 compared to 31 December 2016

●	Loans and advances to banks and customers at amortised cost decreased £6.5bn to £204.8bn with CIB decreasing £5.3bn to £166.3bn due to a reduction in lending and cash collateral, partially offset by an increase in settlement balances. Consumer, Cards and Payments decreased £1.2bn to £38.5bn due to an asset sale in US cards in Q117, partially offset by the realignment of certain clients from Barclays UK to Barclays International in preparation for structural reform
●	Trading portfolio assets increased £10.1bn to £83.3bn due to increased activity
●	Derivative financial instrument assets and liabilities decreased £47.8bn to £108.4bn and £43.8bn to £116.8bn respectively, reflecting the adoption of the Chicago Mercantile Exchange (CME) rulebook change to daily settlement and an increase in major interest rate forward curves and depreciation of USD against GBP
●	Reverse repurchase agreements and other similar lending increased £3.8bn to £17.2bn primarily due to increased trading desks’ funding requirements
●	Financial assets designated at fair value increased £31.8bn to £94.1bn primarily due to increased matched book trading and trading desks’ funding requirements
●	Customer deposits increased £14.1bn to £230.3bn, with CIB increasing £6.8bn to £173.0bn primarily driven by an increase in settlement balances, partially offset by a decrease in cash collateral and corporate deposits. Consumer, Cards and Payments increased £7.3bn to £57.3bn driven by the realignment of certain clients from Barclays UK to Barclays International in preparation for structural reform
●	RWAs remained broadly in line at £212.2bn (December 2016: £212.7bn) driven by a reduction due to the depreciation of USD against GBP, an asset sale in US cards in Q117 and credit quality improvement, offset by increased trading portfolio and securities financing transaction volumes

Head Office	Half year ended	Half year ended
Head Office	30.06.17	30.06.16	YoY
Income statement information	£m	£m	% Change
Net interest income	(7)	(6)	(17)
Net fee, commission and other income	9	307	(97)
Total income	2	301	(99)
Credit impairment charges and other provisions	(1)	(1)	-
Net operating income	1	300
Operating expenses excluding litigation and conduct	(89)	(121)	26
Litigation and conduct	(11)	(18)	39
Operating expenses	(100)	(139)	28
Other net expenses	(164)	(27)
(Loss)/profit before tax	(263)	134
Attributable (loss)/profit	(298)	90

	As at 30.06.17	As at 31.12.16	As at 30.06.16
Balance sheet information	£bn	£bn	£bn
Total assets	17.3	75.2	87.7
Risk weighted assets1	26.2	53.3	43.2

	Half year ended	Half year ended
	30.06.17	30.06.16
Performance measures	£bn	£bn
Average allocated tangible equity	8.2	5.8

1	Includes Africa Banking risk weighted assets of £9.8bn (December 2016: £42.3bn).

Head Office

Income statement – H117 compared to H116

●	Loss before tax was £263m (H116: profit of £134m)
●	Total income reduced £299m to £2m following the early adoption of the own credit provisions of IFRS 9 on 1 January 2017 and lower net income from treasury operations. Own credit, which was previously recorded in the income statement (H116: gain of £183m), is now recognised within other comprehensive income
●	Other net expenses increased to £164m (H116: £27m) driven by an expense of £180m on the recycling of the currency translation reserve to the income statement on the sale of Barclays Bank Egypt

Balance sheet – 30 June 2017 compared to 31 December 2016

●	Total assets decreased to £17.3bn (December 2016: £75.2bn) primarily due to the sale of 33.7% of BAGL’s issued share capital resulting in the accounting deconsolidation of BAGL from the Barclays Group
●	RWAs decreased to £26.2bn (December 2016: £53.3bn) reflecting a £27.9bn reduction as a result of the proportional consolidation of BAGL

Barclays Non-Core	Half year ended	Half year ended
Barclays Non-Core	30.06.17	30.06.16	YoY
Income statement information	£m	£m	% Change
Net interest income	(112)	136
Net trading income	(488)	(953)	49
Net fee, commission and other income	70	231	(70)
Total income	(530)	(586)	10
Credit impairment charges and other provisions	(30)	(55)	45
Net operating expenses	(560)	(641)	13
Operating expenses excluding litigation and conduct	(256)	(857)	70
Litigation and conduct	(28)	(93)	70
Operating expenses	(284)	(950)	70
Other net income/(expenses)	197	(313)
Loss before tax	(647)	(1,904)	66
Attributable loss	(419)	(1,490)	72

	As at 30.06.17	As at 31.12.16	As at 30.06.16
Balance sheet information	£bn	£bn	£bn
Loans and advances to banks and customers at amortised cost1	48.3	51.1	68.5
Derivative financial instrument assets	150.3	188.7	262.8
Derivative financial instrument liabilities	143.0	178.6	253.4
Reverse repurchase agreements and other similar secured lending	-	0.1	0.1
Financial assets designated at fair value	12.1	14.5	15.4
Total assets	233.0	279.7	379.1
Customer deposits2	11.8	12.5	17.4
Risk weighted assets	22.8	32.1	46.7

	Half year ended	Half year ended
Performance measures	30.06.17	30.06.16
Average allocated tangible equity (£bn)	4.9	8.5
Period end allocated tangible equity (£bn)	4.0	7.8
Loan loss rate (bps)	12	15

			YoY
Analysis of total income	£m	£m	% Change
Businesses	10	377	(97)
Securities and loans	43	(765)
Derivatives	(583)	(198)
Total income	(530)	(586)	10

As at 30 June 2017 loans and advances included £37.1bn (December 2016: £38.5bn) of loans and advances to customers (including settlement balances of £nil (December 2016: £0.1bn) and cash collateral of £15.3bn (December 2016: £17.3bn)), and £11.2bn (December 2016: £12.6bn) of loans and advances to banks (including settlement balances of £nil (December 2016: £0.1bn) and cash collateral of £10.9bn (December 2016: £12.1bn)).

As at 30 June 2017 customer deposits included settlement balances of £nil (December 2016 £0.1bn) and cash collateral of £11.4bn (December 2016: £11.9bn).

Barclays Non-Core

Income statement – H117 compared to H116

●	Loss before tax reduced to £647m (H116: £1,904m) driven by lower operating expenses, favourable fair value movements on the ESHLA portfolio, the non-recurrence of impairment associated with the valuation of the French retail business in H116 and a gain on the sale of Barclays Bank Egypt
●	Total income increased £56m to a net expense of £530m
–	Businesses income reduced to £10m (H116: £377m) primarily due to the completion of the sale of the Italian retail, Southern European cards and Barclays Bank Egypt businesses
–	Securities and loans income increased £808m to net income of £43m primarily driven by fair value gains of £44m (H116: £424m expense) on the ESHLA portfolio and the non-recurrence of the £182m loss associated with the restructure of the ESHLA portfolio loan terms in H116
–	Derivatives income reduced £385m to an expense of £583m reflecting losses on the rundown of the portfolio
●	Credit impairment charges improved 45% to £30m due to higher recoveries across Europe and investment banking activities
●	Total operating expenses improved 70% to £284m reflecting the completion of the sale of several businesses, a reduction in restructuring charges, and lower litigation and conduct charges
●	Other net income of £197m (H116: £313m expense) included a £189m gain on the sale of Barclays Bank Egypt. H116 included a £372m impairment associated with the valuation of the French retail business

Balance sheet – 30 June 2017 compared to 31 December 2016

●	Loans and advances to banks and customers at amortised cost decreased 5% to £48.3bn due to a decrease in cash collateral assets, partially offset by the reclassification of £1.5bn of ESHLA loans now recognised at amortised cost, following the restructuring of certain loans within the portfolio
●	Derivative financial instrument assets and liabilities decreased 20% to £150.3bn and 20% to £143.0bn respectively, due to the continued rundown of the derivative back book and an increase in major interest rate forward curves
●	Customer deposits decreased 6% to £11.8bn due to a decrease in cash collateral
●	Total assets decreased 17% to £233.0bn due to lower derivative financial instrument assets
●	RWAs reduced £9.3bn to £22.8bn including a £5bn reduction in Derivatives, a £2bn reduction in Businesses and a £1bn reduction in Securities and loans

Barclays Non-Core closure and reintegration into Core

●	The Non-Core segment was closed on 1 July 2017 with the residual assets and liabilities, and prospective financial performance to be reintegrated into Barclays UK, Barclays International and Head Office. Financial results up until 30 June 2017 will continue to be reflected in the Non-Core
–	As at 30 June 2017 Non-Core RWAs were £22.8bn. It is estimated that c.£3.5bn will be reintegrated with Barclays UK comprising of ESHLA loans excluding higher education, c.£8.8bn will be reintegrated with Barclays International, primarily relating to derivatives and ESHLA higher education, and c.£10.5bn will be reintegrated with Head Office, primarily relating to Italian mortgages and operational risk
●	Guidance of a Non-Core loss before tax for 2017 of approximately £1bn is unchanged, with a loss before tax of approximately £300-400m in H217. The H217 loss before tax is anticipated to be split c.10% to Barclays UK, c.40% to Barclays International and c.50% to Head Office
●	As previously guided to, it is expected that risk weighted assets and loss before tax previously associated with Non-Core will continue to reduce in future periods

		Moves to
Balance sheet information (£bn)1	Barclays Non-Core	Barclays UK	Barclays International	Head Office
Loans and advances to banks and customers at amortised cost	48.3	10.1	28.9	9.3
Derivative financial instrument assets	150.3	-	150.3	-
Derivative financial instrument liabilities	143.0	-	143.0	-
Financial assets designated at fair value	12.1	8.2	3.2	0.7
Total assets	233.0	18.3	200.3	14.4
Customer deposits	11.8	-	11.7	0.1
Risk weighted assets	22.8	3.5	8.8	10.5
Period end allocated tangible equity	4.0	0.7	1.6	1.7

1	Estimated allocation based on 30.06.17 balance sheet.

Discontinued Operation Results

Disposal of the shares in BAGL

On 1 March 2016, Barclays announced its intention to reduce the Group’s 62.3% interest in BAGL to a level which would permit Barclays to deconsolidate BAGL from a regulatory perspective and, prior to that, from an accounting perspective. From this date, BAGL was treated as a discontinued operation. On 5 May 2016, Barclays sold 12.2% of the Group’s interest in BAGL, reducing Barclays’ interest to 50.1% of BAGL’s issued share capital.

In December 2016, Barclays agreed the terms of the transitional services arrangements and separation payments of £0.7bn, as announced in Barclays’ 2016 Annual Report.

Following receipt of the required regulatory approvals, on 1 June 2017 Barclays sold 286 million ordinary shares of BAGL, representing 33.7% of BAGL’s issued share capital, of which 7.0% is allocated to the Public Investment Corporation (PIC) who is expected to take receipt of the shares following the necessary regulatory approvals. Following the sale, as at 30 June 2017 Barclays accounted for 139 million ordinary shares in BAGL, representing 16.4% of BAGL’s issued share capital. An amount of £1,141m was recognised on the balance sheet at the date of disposal, representing the fair value.

Additionally, as at 30 June 2017 Barclays had an obligation to contribute 1.5% of BAGL’s ordinary shares or the cash equivalent to a Black Economic Empowerment (BEE) scheme. As at 30 September 2017, Barclays will account for 126 million ordinary shares in BAGL, currently representing 14.9% of BAGL’s issued share capital. A liability for the obligation to the BEE scheme of £105m is reflected on the balance sheet.

Financial performance

The discontinued operation reported a loss before tax of £2,041m in H117, representing (i) a profit before tax on Africa Banking operations for five months to 31 May 2017, excluding impairment of Barclays' holding in BAGL and loss on sale of BAGL, of £484m, (ii) a £60m loss on sale of the 33.7% share of BAGL’s issued share capital on 1 June 2017, (iii) a £1,375m loss on recycling of Other Comprehensive Income reserves of which £1,377m relates to the currency translation reserve, owing to the weakening of the ZAR since initial consolidation of BAGL in 2005, and (iv) a £1,090m impairment of Barclays’ holding in BAGL, predominantly allocated to acquisition goodwill. The recycling of the currency translation reserve and the impairment of Barclays’ holding in BAGL allocated to acquisition goodwill had no effect on the Group’s tangible net asset value or CET1 ratio.

Accounting and regulatory treatment

The sale of 33.7% of BAGL’s issued share capital resulted in the accounting deconsolidation of BAGL from the Barclays Group, as of 1 June 2017. Barclays’ holding in BAGL technically met the requirements to be treated as an Associate, the subsequent revision of its governance rights in July 2017 means that it is treated as an Available for Sale (AFS) asset. Given the immateriality of the differences between the accounting treatments since 1 June it has been determined that it would be appropriate to treat this holding as an AFS asset since 1 June 2017. BAGL is consequently no longer reported as a discontinued operation and the retained investment will be reported in the Head Office segment. Barclays’ share of BAGL’s dividend will be recognised in the Group’s income statement when the right to receive the dividend has been established, and changes in fair value of the asset will be recognised in the AFS reserve.

For regulatory reporting purposes, BAGL is treated at 30 June 2017 on a proportional consolidated basis based on a holding of 23.4%. The Group’s CET1 ratio increased 47bps as a result of the sale and reflecting the proportional consolidation of BAGL. Barclays expects to proportionally consolidate BAGL in H217 based on a holding of 14.9%, following the contribution of 1.5% of BAGL’s issued share capital to a BEE scheme and the expected delivery of 7.0% of BAGL’s issued share capital to PIC. Subject to regulatory approval, Barclays expects to fully deconsolidate BAGL from a regulatory perspective within 18 months. The estimated future accretion to the Group’s CET1 ratio is c.26bps in aggregate.

Africa Banking
	Half year ended	Half year ended
	30.06.17	30.06.16	YoY
Income statement information¹	£m	£m	% Change
Net interest income	1,024	982	4
Net fee, commission and other income	762	715	7
Total income	1,786	1,697	5
Credit impairment charges and other provisions	(177)	(244)	27
Net operating income	1,609	1,453	11
Operating expenses excluding impairment of Barclays' holding in BAGL	(1,130)	(1,020)	(11)
Other net income excluding loss on sale of BAGL	5	2
Profit before tax excluding impairment of Barclays' holding in BAGL and loss on sale of BAGL	484	435	11
Impairment of Barclays' holding in BAGL	(1,090)	-
Loss on sale of BAGL	(1,435)	-
(Loss)/profit before tax	(2,041)	435
Tax charge	(154)	(124)	(24)
(Loss)/profit after tax	(2,195)	311
Attributable (loss)/profit	(2,335)	156

	As at 30.06.17	As at 31.12.16	As at 30.06.16
Balance sheet information	£bn	£bn	£bn
Total assets	-	65.1	56.0
Risk weighted assets2	9.8	42.3	36.1

1	The H117 Africa Banking income statement represents five months of results as a discontinued operation to 31 May 2017.
2	Africa Banking (excluding Egypt and Zimbabwe) RWAs are reported in Head Office within Core.

	Q217	Q117	Q416	Q316	Q216	Q116	Q415	Q315
Income statement information1	£m	£m	£m	£m	£m	£m	£m	£m
Net interest income	407	617	626	561	502	480	468	471
Net fee, commission and other income	297	465	441	421	377	338	346	351
Total income	704	1,082	1,067	982	879	818	814	822
Credit impairment charges and other provisions	(71)	(106)	(105)	(96)	(133)	(111)	(93)	(66)
Net operating income	633	976	962	886	746	707	721	756
Operating expenses excluding UK bank levy and impairment of Barclays' holding in BAGL	(477)	(653)	(727)	(598)	(543)	(477)	(501)	(515)
UK bank levy	-	-	(65)	-	-	-	(50)	-
Other net income excluding loss on sale of BAGL	3	2	2	2	1	1	3	1
Profit before tax excluding impairment of Barclays' holding in BAGL and loss on sale of BAGL	159	325	172	290	204	231	173	242
Impairment of Barclays' holding in BAGL	(206)	(884)	-	-	-	-	-	-
Loss on sale of BAGL	(1,435)	-	-	-	-	-	-	-
(Loss)/profit before tax	(1,482)	(559)	172	290	204	231	173	242
(Loss)/profit after tax	(1,537)	(658)	71	209	145	166	101	167
Attributable (loss)/profit	(1,534)	(801)	(52)	85	70	86	25	85

Balance sheet information	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Total assets	-	66.0	65.1	61.1	56.0	52.7	47.9	50.2
Risk weighted assets	9.8	41.3	42.3	39.9	36.1	33.9	31.7	33.8

1	The Q217 Africa Banking income statement represents two months of results as a discontinued operation to 31 May 2017.

Quarterly Results Summary

Barclays Group
	Q217	Q117	Q416	Q316	Q216	Q116	Q415	Q315
Income statement information	£m	£m	£m	£m	£m	£m	£m	£m
Net interest income	2,579	2,519	2,523	2,796	2,530	2,688	2,726	2,692
Net fee, commission and other income	2,479	3,304	2,469	2,650	3,442	2,353	1,722	2,789
Total income	5,058	5,823	4,992	5,446	5,972	5,041	4,448	5,481
Credit impairment charges and other provisions	(527)	(527)	(653)	(789)	(488)	(443)	(554)	(429)
Net operating income	4,531	5,296	4,339	4,657	5,484	4,598	3,894	5,052
Operating expenses excluding UK bank levy and litigation and conduct	(3,398)	(3,591)	(3,812)	(3,581)	(3,425)	(3,747)	(3,547)	(3,552)
UK bank levy	-	-	(410)	-	-	-	(426)	-
Litigation and conduct	(715)	(28)	(97)	(741)	(447)	(78)	(1,722)	(699)
Operating expenses	(4,113)	(3,619)	(4,319)	(4,322)	(3,872)	(3,825)	(5,695)	(4,251)
Other net income/(expenses)	241	5	310	502	(342)	20	(274)	(182)
Profit/(loss) before tax	659	1,682	330	837	1,270	793	(2,075)	619
Tax (charge)/credit	(305)	(473)	50	(328)	(467)	(248)	(164)	(133)
Profit/(loss) after tax in respect of continuing operations	354	1,209	380	509	803	545	(2,239)	486
(Loss)/profit after tax in respect of discontinued operation	(1,537)	(658)	71	209	145	166	101	167

Attributable to:
Ordinary equity holders of the parent	(1,401)	190	99	414	677	433	(2,422)	417
Other equity holders	162	139	139	110	104	104	107	79
Non-controlling interests	56	222	213	194	167	174	177	157

Balance sheet information	£bn	£bn	£bn	£bn	£bn	£bn	£bn	£bn
Total assets	1,135.3	1,203.8	1,213.1	1,324.0	1,351.3