10th Feb 2005 14:00
Barclays Bank PLC10 February 2005 BARCLAYS BANK PLC BARCLAYS BANK PLC IS A WHOLLY OWNED SUBSIDIARY OF BARCLAYS PLC CONSOLIDATED PROFIT AND LOSS ACCOUNT The Directors report the following results of the Barclays Bank PLC Group forthe year ended 31st December 2004: 2004 2003Interest receivable: £m £mInterest receivable and similar income arising 2,414 2,384from debt securitiesOther interest receivable and similar income 11,251 10,043 13,665 12,427Interest payable (6,823) (5,823)Net interest income 6,842 6,604Fees and commissions receivable 5,672 4,896Less: fees and commissions payable (706) (633)Dealing profits 1,493 1,054Other operating income 653 490Operating income 13,954 12,411Administrative expenses - staff costs (4,998) (4,295)Administrative expenses - other (2,758) (2,404)Depreciation (295) (289)Goodwill amortisation (299) (265)Operating expenses (8,350) (7,253)Operating profit before provisions 5,604 5,158Provisions for bad and doubtful debts (1,091) (1,347)Provisions for contingent liabilities and (2) 1commitmentsProvisions (1,093) (1,346)Operating profit 4,511 3,812 (Loss)/profit from joint ventures (3) 1Profit from associated undertakings 59 28Profit on disposal/termination of businesses 45 4Profit on ordinary activities before tax 4,612 3,845Tax on profit on ordinary activities (1,289) (1,076)Profit on ordinary activities after tax 3,323 2,769Minority interests - equity (44) (25)Profit attributable to shareholders 3,279 2,744Profit attributable to non - equity shareholders (2) -Dividends payable to Barclays PLC (2,247) (1,580)Profit retained for the financial year 1,030 1,164 The information in this announcement, which was approved by the Board ofDirectors on 9th February 2005, does not comprise statutory accounts within themeaning of Section 240 of the Companies Act 1985 (the 'Act'). Statutory accountswill be delivered to the Registrar of Companies in accordance with Section 242of the Act. CONSOLIDATED BALANCE SHEET 2004 2003Assets: £m £mCash and balances at central banks 1,753 1,726Items in course of collection from other banks 1,772 2,006Treasury bills and other eligible bills 6,658 7,177Loans and advances to banks - banking 24,986 17,254 - trading 50,145 44,670 75,131 61,924Loans and advances to customers - banking 189,847 167,858 - trading 65,099 58,961 254,946 226,819Debt securities 127,428 97,393Equity shares 12,177 7,871Interests in joint ventures - share of gross assets 147 266 - share of gross liabilities (119) (208) 28 58Interests in associated undertakings 381 370Intangible fixed assets 4,295 4,406Tangible fixed assets 1,921 1,790Other assets 22,307 19,835Prepayments and accrued income 5,078 3,921 513,875 435,296Retail life-fund assets attributable to 8,378 8,077policyholdersTotal assets 522,253 443,373 Liabilities: Deposits by banks - banking 74,211 57,641 - trading 36,813 36,451 111,024 94,092Customer accounts - banking 171,963 155,814 - trading 45,755 29,054 217,718 184,868Debt securities in issue 67,806 49,569Items in course of collection due to other banks 1,205 1,286Other liabilities 76,550 69,497Balances due to Barclays PLC 49 10Accruals and deferred income 6,582 4,983Provisions for liabilities and charges - deferred tax 738 646Provisions for liabilities and charges - other 467 369Dividend payable to Barclays PLC 977 869Subordinated liabilities:Undated loan capital - non-convertible 6,149 6,310Dated loan capital - convertible to preference shares 15 17Dated loan capital - non-convertible 6,113 6,012 495,393 418,528Shareholders' funds and minority interestsCalled up share capital 2,316 2,302Share premium account 6,531 5,743Revaluation reserve 24 24Profit and loss account 9,400 8,416 18,271 16,485Shareholders' funds - equity 17,581 16,485 - non-equity 690 -Minority interests - equity 211 283 18,482 16,768 513,875 435,296Retail life-fund liabilities to policyholders 8,378 8,077Total liabilities and shareholders' funds 522,253 443,373 Memorandum itemsContingent liabilities:Acceptances and endorsements 303 671Guarantees and assets pledged as collateral security 30,011 24,596Other contingent liabilities 8,245 8,427 38,559 33,694Commitments - standby facilities, credit lines 134,051 114,847and other NOTES 1. Authorised share capital Ordinary shares The authorised ordinary share capital of Barclays Bank PLC, at 31st December 2004, was 3,000million (2003: 3,000million) ordinary shares of £1 each. Preference shares The authorised preference share capital of Barclays Bank PLC, at 31st December 2004, was 1,000 (2003: nil) preference shares of £1 each, 150million (2003: 150million) preference shares of US$0.01 each and 400,000 (2003: nil) preference shares of €100 each. 2. Issued share capital Ordinary shares The issued ordinary share capital of Barclays Bank PLC, at 31st December 2004 comprised 2,309million (2003: 2,302million) ordinary shares of £1 each. The whole of the issued ordinary share capital of Barclays Bank PLC is beneficially owned by Barclays PLC. Preference shares The issued preference share capital of Barclays Bank PLC, at 31 December 2004 comprised 1,000 (2003: nil) preference shares of £1 each and 100,000 (2003: nil) preference shares of €100 each. The sterling preference shares were issued on 31st December 2004 at nil premium. The euro preference shares were issued on 8th December 2004 for a consideration of €993.6million or (£688.4million), of which the nominal value was €10million and the balance was share premium. 3. Staff numbers On a full time equivalent basis the total permanent and contract staff was 78,400 (2003: 74,800). Additionally, temporary and agency staff totalled 4,300 (2003: 4,100). 4. Conversion to International Financial Reporting Standards in 2005 By Regulation, the European Union (EU) has agreed that virtually all listed companies must use International Financial Reporting Standards (IFRS) adopted for use in the EU in the preparation of their 2005 consolidated accounts. Barclays Bank PLC will comply with this Regulation, as part of a Groupwide implementation programme, details of which are discussed in the Results Announcement for Barclays PLC. The Group believes it is on track to meet all requirements for financial reporting in 2005. 5. Commitments Current year credit card commitments have been calculated on a contractual basis rather than a modelled basis. Had this method been applied in 2003, reported commitments would have been increased by £5,899million to £120,746million. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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