Barclays H1 2022 Results
FY22 costs expected to be around £16.7bn¹
Q222 total costs YoY (Em)
Increase of £1.3bn largely driven by L&C
5,016
FY22 costs outlook (£bn)
4,111
1,334
3,730
143
3,776
3,575
170
523
129
92
1,623
1,562
1,747
1,921
1,870
c.15.0
C.0.3
• FX impact,
notably stronger
USD vs. GBP
c.1.3
Q222 charge for
Over-issuance of
Securities
545
598
563
667
584
1,078
1,202
1,041
998
1,085
341
95
152
85
60
Q221
Q321
Q421
Q122
Q222
FY22 outlook
at Q122
FX and other
■CC&P ■CIB L&C
Bank Levy
•
Q222 charge
relating to
c.16.71
settlements in
principle in
respect of
industry-wide
devices
investigations by
SEC and CFTC
Additional L&C
provision
Revised
FY22 outlook
Head Office ■ BUK
Q222 total costs driven by:
L&C of £1.3bn of which £1,149m relates to the Over-issuance of
Securities and £165m relating to settlements in principle in
respect of industry-wide devices investigations by SEC and
CFTC
Q222 operating costs (which exclude L&C) up 3% YoY
Continued investment and business growth, the impact of
inflation and the appreciation of average USD against GBP,
partially offset by efficiency savings and the non-recurrence of
structural cost actions
FY23 considerations for costs
Efficiency savings
Business related growth
Selective investment spend
Lower L&C
FX
✰ Inflation
1 Group cost outlook is based on an average USD/GBP FX rate of 1.23 across H222 and subject to foreign currency movements | Note: 2021 financial metrics have been restated to reflect the impact of Over-issuance of Securities. Please see slides 49-52 for details of the
adjustments made in respect of the Over-issuance of Securities | Note: Charts may not sum due to rounding |
20 | Barclays H1 2022 Results | 28 July 2022
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