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Credit risk management (audited)
The risk of loss to the Barclays Bank Group from the failure of clients, customers or counterparties, including sovereigns, to
fully honour their obligations to the Barclays Bank Group, including the whole and timely payment of principal, interest,
collateral and other receivables.
Overview
The credit risk that the Barclays Bank Group faces arises from wholesale and retail loans and advances together with the
counterparty credit risk arising from derivative contracts with clients' trading activities, including: debt securities, settlement
balances with market counterparties, FVOCI (fair value through other comprehensive income) assets and reverse repurchase
loans.
Credit risk management objectives are to:
\u25aa maintain a framework of controls to oversee credit risk
\u25aa identify, assess and measure credit risk clearly and accurately across the Barclays Bank Group and within each separate
business, from the level of individual facilities up to the total portfolio
\u25aa control and plan credit risk taking in line with external stakeholder expectations, including risk return objectives, and
avoiding undesirable concentrations
\u25aa monitor credit risk and adherence to agreed controls.
Organisation, roles and responsibilities
The first line of defence has primary responsibility for managing credit risk within the risk appetite and limits set by the Risk
function, supported by a defined set of policies, standards and controls. In the Barclays Bank Group, business risk
committees (attended by the first line) monitor and review the credit risk profile of each business unit where the most
material issues are escalated to the Retail Credit Risk Management Committee, Wholesale Credit Risk Management
Committee and the Barclays Group Risk Committee.
Wholesale and retail portfolios are managed separately to reflect the differing nature of the assets; wholesale balances tend
to be larger and are managed on an individual basis, while retail balances are greater in number but lesser in value and are,
therefore, managed in aggregated segments.
The responsibilities of the credit risk management teams in the businesses, the sanctioning team and other shared services
include: sanctioning new credit agreements (principally wholesale); setting strategies for approval of transactions
(principally retail); setting risk appetite; monitoring risk against limits and other parameters; setting recession readiness
frameworks to protect portfolios in the event of economic stress, maintaining robust processes, data gathering, quality,
storage and reporting methods for effective credit risk management; performing effective turnaround and workout
scenarios for wholesale portfolios via dedicated restructuring and recoveries teams; maintaining robust collections and
recovery processes/units for retail portfolios. The credit risk management teams in the Barclays Bank Group are accountable
to the Barclays Bank Group CRO, who reports to the Barclays Group CRO.
For wholesale portfolios, credit risk managers are organised in sanctioning teams by geography, industry and/or product. In
wholesale portfolios, credit risk approval is undertaken by experienced credit risk professionals operating within a clearly
defined delegated authority framework, with only the most senior credit officers assigned the higher levels of delegated
authority. The largest credit exposures, which are outside the Risk Sanctioning Unit or Risk Distribution Committee authority,
require the support of the Senior Credit Officers. For exposures in excess of the Senior Credit Officers\u2019 authority, approval by
the Barclays Group Senior Credit Officer/Barclays PLC Board Risk Committee is also required. The Barclays Group Credit Risk
Committee, attended by the Senior Credit Officers, provides a formal mechanism for the Barclays Group Senior Credit Officer
to exercise the highest level of credit authority over the most material Barclays Group single name exposures.
Credit risk mitigation
The Barclays Bank Group employs a range of techniques and strategies to actively mitigate credit risks. These can broadly be
divided into three types:
\u25aa netting and set-off
\u25aa collateral
\u25aa risk transfer.
Netting and set-off
Credit risk exposures can be reduced by applying netting and set-off. For derivative transactions, the Barclays Bank Group\u2019s
normal practice is to enter into standard master agreements with counterparties (e.g. ISDAs). These master agreements
typically allow for netting of credit risk exposure to a counterparty resulting from derivative transactions against the
obligations to the counterparty in the event of default, and so produce a lower net credit exposure. These agreements may
also reduce settlement exposure (e.g. for foreign exchange transactions) by allowing payments on the same day in the same
currency to be set-off against one another.
Collateral
The Barclays Bank Group has the ability to call on collateral in the event of default of the counterparty, comprising:
\u25aa home loans: a fixed charge over residential property in the form of houses, flats and other dwellings.
\u25aa wholesale lending: a fixed charge over commercial property and other physical assets, in various forms.
\u25aa other retail lending: includes charges over other physical assets; second lien charges over residential property and finance
lease receivables.
\u25aa derivatives: the Barclays Bank Group also often seeks to enter into a margin agreement (e.g. Credit Support Annex) with
counterparties with which the Barclays Bank Group has master netting agreements in place. These annexes to master
agreements provide a mechanism for further reducing credit risk, whereby collateral (margin) is posted on a regular basis
(typically daily) to collateralise the mark to market exposure of a derivative portfolio measured on a net basis.
\u25aa reverse repurchase agreements: collateral typically comprises highly liquid securities which have been legally transferred
to the Barclays Bank Group subject to an agreement to return them for a fixed price.
\u25aa financial guarantees and similar off-balance sheet commitments: cash collateral may be held against these
arrangements.
Risk transfer
A range of instruments including guarantees, credit insurance, credit derivatives and securitisation can be used to transfer
credit risk from one counterparty to another. These mitigate credit risk in three main ways:
\u25aa if the risk is transferred to a counterparty which is more creditworthy than the original counterparty, then overall credit risk
is reduced.
\u25aa where recourse to the first counterparty remains, both counterparties must default before a loss materialises. This is less
likely than the default of either counterparty individually, so credit risk is reduced.
\u25aa first loss exposures across pools of credit risk can be hedged via synthetic securitisation structures, typically via CLN
issuance. As these are fully funded upfront, they provide for a direct reduction in credit risk exposure on referenced pools.
In addition, referenced pools of assets can be securitised with specific tranches of risk sold to investors to provide direct
reduction in credit risk exposures.
Market risk management (audited)
The risk of loss arising from potential adverse changes in the value of the Barclays Bank Group\u2019s assets and liabilities from
fluctuation in market variables including, but not limited to, interest rates, foreign exchange, equity prices, commodity
prices, credit spreads, implied volatilities and asset correlations.
Overview
Market risk arises primarily as a result of client facilitation in wholesale markets, involving market making activities, risk
management solutions and execution of syndications. Upon execution of a trade with a client, the Barclays Bank Group will
look to hedge against the risk of the trade moving in an adverse direction. Mismatches between client transactions and
hedges result in market risk due to changes in asset prices, volatility or correlations.
Organisation, roles and responsibilities
Market risk in the businesses resides primarily in IB and Treasury. These businesses have the mandate to assume market
risk. The front office and Treasury trading desks are responsible for managing market risk on a day-to-day basis, where they
are required to understand and adhere to all limits applicable to their businesses. The Market Risk team supports the trading
desks with the day-to-day limit management of market risk exposures through governance processes which are outlined in
supporting market risk policies and standards.
Market risk oversight and challenge is provided by business committees and Barclays Group committees, including the
Market Risk Committee (MRC).
The objectives of market risk management are to:
\u25aa identify, understand and control market risk by robust measurement, limit setting, reporting and oversight
\u25aa facilitate business growth within a controlled and transparent risk management framework
\u25aa control market risk in the businesses according to the allocated appetite.
To meet the above objectives, a governance structure is in place to manage these risks consistent with the ERMF.
The Barclays Bank PLC Board Risk Committee recommends market risk appetite to the Barclays Bank PLC Board for their
approval, within the parameters set by the Barclays PLC Board.
The Market Risk Committee (MRC) reviews and makes recommendations concerning the Barclays Group-wide market risk
profile. This includes overseeing the operation of the Market Risk Framework and associated policies and standards,
monitoring market and regulatory changes, and reviewing limit utilisation levels. The committee is chaired by the Market
Risk Principal Risk Lead and attendees include the business heads of market risk and business aligned market risk managers.
In addition to MRC, the Investment Bank Risk Committee (IBRC) is the main forum in which market risk exposures are
discussed and reviewed with senior business heads. The Committee is chaired by the BBPLC CRO and meets weekly,
covering current market events, notable market risk exposures, and key risk topics. New business initiatives are generally
socialised at IBRC before any changes to risk appetite or associated limits are considered in other governance committees.
Management value at risk (VaR)
VaR is an estimate of the potential loss arising from unfavourable market movements if the current positions were to be held
unchanged for one business day. For internal market risk management purposes, a historical simulation methodology with a
one-year equally weighted historical period, at the 95% confidence level is used for all trading books and some banking
books.
Limits are applied at the total level as well as by risk factor type, which are then cascaded down to particular trading desks
and businesses by the market risk management function.
See pages 218 to 219 for a review of management VaR.
Treasury and capital risk management
This comprises:
Liquidity risk: The risk that the Barclays Bank Group is unable to meet its contractual or contingent obligations or that it
does not have the appropriate amount, tenor and composition of funding and liquidity to support its assets.
Capital risk: The risk that the Barclays Bank Group has an insufficient level or composition of capital to support its normal
business activities and to meet its regulatory capital requirements under normal operating environments and stressed
conditions (both actual and as defined for internal planning or regulatory testing purposes). This also includes the risk from
the Barclays Bank Group\u2019s pension plans.
Interest rate risk in the banking book: The risk that the Barclays Bank Group is exposed to capital or income volatility
because of a mismatch between the interest rate exposures of its (non-traded) assets and liabilities. This also includes
credit spread risk in the banking book, the risk that the Barclays Bank Group is exposed to capital or income volatility
because of changes in credit spreads on its (non-traded) assets and liabilities
The Barclays Bank PLC Treasury function manages treasury and capital risk exposure on a day-to-day basis, with the
Barclays Bank PLC Treasury Committee together with the Barclays Group Treasury Committee acting as the principal
management bodies for the Barclays Bank Group. The Treasury and Capital Risk function is responsible for oversight and
provides insight into key capital, liquidity, interest rate risk in the banking book (IRRBB) and pension risk management
activities. The assessment and management of the Barclays Bank Group's capital and liquidity position and IRRBB and
pension risk requires the use of judgement, assumptions and estimates. Please see the description of material existing and
emerging risks beginning on page 123 of this Annual Report for further details on such judgements, assumptions and
estimates, including the potential risks involved.
Liquidity risk management (audited)
Overview
The efficient management of liquidity is essential to the Barclays Bank Group in order to retain the confidence of the
financial markets and maintain the sustainability of the business. Treasury and Capital Risk have created a framework to
manage all liquidity risk exposures under both normal and stressed conditions. The framework is designed to maintain
liquidity resources that are sufficient in amount, quality and funding tenor profile to remain within the liquidity limits set by
the Barclays Bank PLC Board. The Board sets liquidity limits on both internal and regulatory liquidity metrics.
Organisation, roles and responsibilities
Treasury has the primary responsibility for managing liquidity risk within the set risk appetite. Both Risk and Treasury
contribute to the production of the Internal Liquidity Adequacy Assessment Process (ILAAP). The Treasury and Capital Risk
function is responsible for the management and governance of the liquidity risk mandate, as defined by the Barclays Bank
PLC Board.
The liquidity risk management framework established by Treasury and Capital Risk is designed to deliver the appropriate
term and structure of funding, consistent with the risk appetite set by the Barclays Bank PLC Board. The framework
incorporates a range of ongoing business management tools to monitor and stress test Barclays Bank PLC's balance sheet
and recovery plan, including limit setting. Limit setting and transfer pricing are tools that are designed to control the level of
liquidity risk taken and drive the appropriate mix of funds. Adherence to limits reduces the likelihood that a liquidity stress
event could lead to an inability to meet the Barclays Bank Group\u2019s obligations as they fall due.
The Barclays Bank PLC Board approves the Barclays Bank PLC funding plan, internal stress tests, regulatory stress tests,
recovery plan and liquidity risk qualitative statement that supports risk appetite. Barclays Bank PLC\u2019s Treasury Committee is
responsible for monitoring and managing liquidity risk in line with Barclays Bank PLC\u2019s funding management objectives,
funding plan and risk appetite. The Barclays Group Treasury and Capital Risk Committee monitors and reviews the liquidity
risk profile and control environment, providing second line oversight of the management of liquidity risk. The Barclays Bank
PLC Board Risk Committee reviews the risk profile, liquidity risk qualitative statement, and the impact of stress scenarios on
Barclays Bank PLC\u2019s funding plan/forecast in order to agree Barclays Bank PLC\u2019s projected funding abilities. The Barclays
Bank PLC Board Risk Committee also approves liquidity limits to define Barclays Bank PLC's risk appetite liquidity constraint.
Capital risk management (audited)
Overview
Capital risk is managed through ongoing monitoring and management of the capital and leverage position, regular stress
testing and a robust capital governance framework. The objectives of the framework are to maintain adequate capital for the
Barclays Bank Group and its legal entities to withstand the impact of the risks that may arise under normal and stressed
conditions, and maintain adequate capital to cover current and forecast business needs and associated risks to provide a
viable and sustainable business offering. The Barclays Bank Group aims to prudently manage its overall leverage position
(including risk of excessive leverage) by utilising plausible stress scenarios, reviewing and deploying management actions in
response to deteriorating economic and commercial positions. In order to manage contingent leverage risk, the Barclays
Bank Group considers the context from which the business consumption arises, the impact of client utilisation on leverage
and the available actions to manage.
Organisation, roles and responsibilities
Treasury has the primary responsibility for managing and monitoring capital adequacy. The Barclays Bank Group Treasury
and Capital Risk function provides oversight of capital risk. Production of the Barclays Bank PLC Internal Capital Adequacy
Assessment Process (ICAAP) is the responsibility of Treasury.
Capital risk management is underpinned by a control framework and policy. The capital management strategy, outlined in
the relevant legal entity capital plans, is developed in alignment with the control framework and policy for capital risk, and is
implemented consistently in order to deliver on the Barclays Bank Group\u2019s objectives, which are aligned to those of the
Barclays Group.
The Barclays Bank PLC Board approves the Barclays Bank PLC capital plan, internal stress tests and results of regulatory
stress tests and those of the relevant Barclays Bank Group entities. The Barclays PLC Board also approves the Barclays Group
recovery plan which takes into account management actions identified at the Barclays Bank Group level. The Barclays Bank
PLC Treasury Committee and the Barclays Group Treasury Committee are responsible for monitoring and managing capital
risk in line with Barclays Bank Group\u2019s capital management objectives, capital plan and risk frameworks. The Treasury and
Capital Risk Committee (TCRC) monitors and reviews the capital risk profile and control environment, providing second line
oversight of the management of capital risk.
For the relevant Barclays Bank Group subsidiaries, local management assures compliance with an entity\u2019s minimum
regulatory capital requirements by reporting to local Asset and Liability Committees (or equivalents) with oversight by the
Barclays Bank PLC Treasury Committee and the Barclays Group Treasury Committee, as required. In 2025, Barclays complied
with all regulatory minimum capital requirements. Contingent leverage risk is managed by; i) setting comprehensive
leverage (and RWA) targets for each business as part of the Treasury capital management process, taking into account
adherence to early warning indicators and maintain a healthy leverage ratio, and; ii) Monitoring execution of actions taken to
course-correct as necessary.
The Barclays Bank Group maintains a number of defined benefit pension schemes for past and current employees. The
ability of schemes to meet pension payments is achieved with investments and contributions.
Pension risk arises because the market value of pension fund assets might decline; investment returns might reduce; or the
estimated value of pension liabilities might increase. The Barclays Bank Group monitors the pension risks arising from its
defined benefit pension schemes and works with the relevant pension fund\u2019s trustees to address shortfalls. In these
circumstances the Barclays Bank Group could be required or might choose to make extra contributions to the pension fund.
The Barclays Bank Group\u2019s main defined benefit scheme was closed to new entrants in 2012.
Interest rate risk in the banking book management (IRRBB)
Overview
Interest rate risk in the banking book is driven by counterparties deposit taking and lending activities, investments in the
liquid asset portfolio and funding activities. As per the Barclays Bank Group\u2019s policy to remain within the defined risk
appetite, hedging strategies are executed to mitigate the various IRRBB risks that result from these activities. However, the
Barclays Bank Group remains susceptible to interest rate risk and other non-traded market risks from the following key
sources:
\u25aa Interest rate and repricing risk: the risk that net interest income could be adversely impacted by a change in interest rates,
differences in the timing of interest rate changes between assets and liabilities, and other constraints on interest rate
changes as per product terms and conditions.
\u25aa Counterparty behavioural risk: the risk that net interest income could be adversely impacted by the discretion that
counterparties may have in respect of being able to vary from their contractual obligations with the Barclays Bank Group.
This risk is often referred to by industry regulators as \u2018embedded option risk\u2019.
\u25aa Investment risks in the liquid asset portfolio: the risk that the fair value of assets held in the liquid asset portfolio and
associated risk management portfolios could be adversely impacted by market volatility, creating volatility in capital
directly.
Organisation, roles and responsibilities
The Barclays Bank PLC Treasury Committee and the Barclays Group Treasury Committee are responsible for monitoring and
managing IRRBB risk in line with the Barclays Bank Group\u2019s management objectives and risk frameworks. The BRC and
Treasury and Capital Risk Committee monitors and reviews the IRRBB risk profile and control environment, providing second
line oversight of the management of IRRBB. The BRC reviews the interest rate risk profile, including review of the risk
appetite at least annually and the impact of stress scenarios on the interest rate risk of the Barclays Bank PLC\u2019s banking
books.
In addition, the Barclays Bank Group\u2019s IRRBB policy sets out the processes and key controls required to identify all IRRBB
risks arising from banking book operations, to monitor the risk exposures via a set of metrics with a frequency in line with
the risk management horizon, and to manage these risks within agreed risk appetite and limits.
Maximum exposure and effect of netting, collateral and risk transfer (audited)
Maximum
exposure
Netting
and set-
off
Cash
collateral
Non-cash
collateral
Risk
transfer
Exposure
net of risk
mitigation
Barclays Bank Group
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
On-balance sheet:
Cash and balances at central banks
208,544
\u2014
\u2014
\u2014
\u2014
208,544
Cash collateral and settlement balances
124,519
\u2014
\u2014
\u2014
\u2014
124,519
Loans and advances at amortised cost:
Retail mortgages
4,952
\u2014
(11)
(4,921)
(6)
14
Retail credit cards
20,527
\u2014
\u2014
\u2014
\u2014
20,527
Retail other
4,128
\u2014
(1,064)
(2,617)
(43)
404
Corporate loans
121,179
(2,977)
(1,424)
(64,584)
(4,844)
47,350
Total loans and advances at amortised cost
150,786
(2,977)
(2,499)
(72,122)
(4,893)
68,295
Of which credit-impaired (Stage 3):
Retail mortgages
151
\u2014
\u2014
(151)
\u2014
\u2014
Retail credit cards
381
\u2014
\u2014
\u2014
\u2014
381
Retail other
87
\u2014
\u2014
(84)
\u2014
3
Corporate loans
1,770
\u2014
(22)
(1,003)
(247)
498
Total credit-impaired loans and advances at amortised cost
2,389
\u2014
(22)
(1,238)
(247)
882
Debt securities at amortised cost
55,153
\u2014
\u2014
(136)
\u2014
55,017
Reverse repurchase agreements and other similar secured lending
17,662
\u2014
\u2014
(17,662)
\u2014
\u2014
Trading portfolio assets:
Debt securities
94,040
\u2014
\u2014
(639)
\u2014
93,401
Traded loans
12,249
\u2014
\u2014
(4,907)
\u2014
7,342
Total trading portfolio assets
106,289
\u2014
\u2014
(5,546)
\u2014
100,743
Financial assets at fair value through the income statement:
Loans and advances
46,885
\u2014
(17)
(42,290)
\u2014
4,578
Debt securities
3,121
\u2014
\u2014
(359)
\u2014
2,762
Reverse repurchase agreements
132,600
\u2014
(1,433)
(130,807)
\u2014
360
Other financial assets
60
\u2014
\u2014
\u2014
\u2014
60
Total financial assets at fair value through the income statement
182,666
\u2014
(1,450)
(173,456)
\u2014
7,760
Derivative financial instruments
252,192
(194,772)
(29,930)
(12,646)
(4,121)
10,723
Financial assets at fair value through other comprehensive income
42,818
\u2014
\u2014
(2,390)
\u2014
40,428
Other assets
624
\u2014
(1)
\u2014
\u2014
623
Assets held for sale
5,801
\u2014
\u2014
\u2014
\u2014
5,801
Total on-balance sheet
1,147,054
(197,749)
(33,880)
(283,958)
(9,014)
622,453
Off-balance sheet:
Contingent liabilities
26,633
\u2014
(1,768)
(768)
(194)
23,903
Loan commitments
355,388
\u2014
(491)
(49,265)
(2,376)
303,256
Total off-balance sheet
382,021
\u2014
(2,259)
(50,033)
(2,570)
327,159
Total
1,529,075
(197,749)
(36,139)
(333,991)
(11,584)
949,612
The above table excludes any credit risk mitigation that does not impact the expected credit loss for financial assets
measured at amortised cost. Off-balance sheet exposures are shown gross of provisions of \u00a3398m (2024: \u00a3420m), see Note
23 for further details. In addition to the above, Barclays Bank Group holds forward starting reverse repos amounting to
\u00a381.5bn (2024: \u00a3108.6bn) which are fully collateralised. Corporate loans at amortised cost include \u00a30.1bn (2024: \u00a30.2bn ) of
CBILs and CLBILs supported by UK government guarantees of \u00a30.1bn (2024: \u00a30.1bn) which are included within the Risk
transfer column in the table. Reported off-balance sheet loan commitments also include exposures relating to financial
assets classified as assets held for sale.
Maximum exposure and effects of netting, collateral and risk transfer (audited)
Maximum
exposure
Netting
and set-
off
Cash
collateral
Non-cash
collateral
Risk
transfer
Exposure
net of risk
mitigation
Barclays Bank Group
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
On-balance sheet:
Cash and balances at central banks
180,365
\u2014
\u2014
\u2014
\u2014
180,365
Cash collateral and settlement balances
113,987
\u2014
\u2014
\u2014
\u2014
113,987
Loans and advances at amortised cost:
Retail mortgages
4,956
\u2014
(22)
(4,922)
\u2014
12
Retail credit cards
19,749
\u2014
\u2014
\u2014
\u2014
19,749
Retail other
3,918
\u2014
(1,106)
(2,441)
(33)
338
Corporate loans
116,204
(3,006)
(1,104)
(57,458)
(4,536)
50,100
Total loans and advances at amortised cost
144,827
(3,006)
(2,232)
(64,821)
(4,569)
70,199
Of which credit-impaired (Stage 3):
Retail mortgages
278
\u2014
\u2014
(277)
\u2014
1
Retail credit cards
308
\u2014
\u2014
\u2014
\u2014
308
Retail other
191
\u2014
(21)
(162)
\u2014
8
Corporate loans
1,261
\u2014
(32)
(383)
(87)
759
Total credit-impaired loans and advances at amortised cost
2,038
\u2014
(53)
(822)
(87)
1,076
Debt securities at amortised cost
50,227
\u2014
\u2014
(583)
(40)
49,604
Reverse repurchase agreements and other similar secured lending
3,393
\u2014
\u2014
(3,393)
\u2014
\u2014
Trading portfolio assets:
Debt securities
77,805
\u2014
\u2014
(657)
\u2014
77,148
Traded loans
13,470
\u2014
\u2014
(878)
\u2014
12,592
Total trading portfolio assets
91,275
\u2014
\u2014
(1,535)
\u2014
89,740
Financial assets at fair value through the income statement:
Loans and advances
44,182
\u2014
(17)
(40,401)
\u2014
3,764
Debt securities
2,931
\u2014
\u2014
(182)
\u2014
2,749
Reverse repurchase agreements
141,791
\u2014
(2,429)
(138,924)
\u2014
438
Other financial assets
85
\u2014
\u2014
\u2014
\u2014
85
Total financial assets at fair value through the income statement
188,989
\u2014
(2,446)
(179,507)
\u2014
7,036
Derivative financial instruments
292,356
(230,260)
(28,953)
(12,633)
(5,284)
15,226
Financial assets at fair value through other comprehensive income
51,010
\u2014
\u2014
(1,104)
(102)
49,804
Other assets
665
\u2014
(1)
\u2014
\u2014
664
Assets held for sale
9,544
\u2014
\u2014
\u2014
\u2014
9,544
Total on-balance sheet
1,126,638
(233,266)
(33,632)
(263,576)
(9,995)
586,169
Off-balance sheet:
Contingent liabilities
26,565
\u2014
(2,664)
(441)
(248)
23,212
Loan commitments
353,777
\u2014
(550)
(51,812)
(1,840)
299,575
Total off-balance sheet
380,342
\u2014
(3,214)
(52,253)
(2,088)
322,787
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
1,506,980
(233,266)
(36,846)
(315,829)
(12,083)
908,956
Barclays Bank Group (audited)
Stage 2
As at 31 December 2025
Stage 1
Not past
due
<=30 days
past due
>30 days
past due
Total
Stage 3
Total 1
Gross exposure
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
4,674
34
1
101
136
175
4,985
Retail credit cards
18,801
2,022
238
276
2,536
1,776
23,113
Retail other
3,788
80
123
62
265
107
4,160
Corporate loans
111,629
7,941
60
155
8,156
2,360
122,145
Total loans and advances at amortised cost
138,892
10,077
422
594
11,093
4,418
154,403
Debt securities at amortised cost
54,801
371
\u2014
\u2014
371
\u2014
55,172
Total loans and advances at amortised cost
including debt securities
193,693
10,448
422
594
11,464
4,418
209,575
Impairment allowance
Retail mortgages
9
\u2014
\u2014
\u2014
\u2014
24
33
Retail credit cards
395
508
105
183
796
1,395
2,586
Retail other
7
3
1
1
5
20
32
Corporate loans
141
219
6
10
235
590
966
Total loans and advances at amortised cost
552
730
112
194
1,036
2,029
3,617
Debt securities at amortised cost
10
9
\u2014
\u2014
9
\u2014
19
Total loans and advances at amortised cost
including debt securities
562
739
112
194
1,045
2,029
3,636
Net exposure
Retail mortgages
4,665
34
1
101
136
151
4,952
Retail credit cards
18,406
1,514
133
93
1,740
381
20,527
Retail other
3,781
77
122
61
260
87
4,128
Corporate loans
111,488
7,722
54
145
7,921
1,770
121,179
Total loans and advances at amortised cost
138,340
9,347
310
400
10,057
2,389
150,786
Debt securities at amortised cost
54,791
362
\u2014
\u2014
362
\u2014
55,153
Total loans and advances at amortised cost
including debt securities
193,131
9,709
310
400
10,419
2,389
205,939
Coverage ratio
%
%
%
%
%
%
%
Retail mortgages
0.2
\u2014
\u2014
\u2014
\u2014
13.7
0.7
Retail credit cards
2.1
25.1
44.1
66.3
31.4
78.5
11.2
Retail other
0.2
3.8
0.8
1.6
1.9
18.7
0.8
Corporate loans
0.1
2.8
10.0
6.5
2.9
25.0
0.8
Total loans and advances at amortised cost
0.4
7.2
26.5
32.7
9.3
45.9
2.3
Debt securities at amortised cost
\u2014
2.4
\u2014
\u2014
2.4
\u2014
\u2014
Total loans and advances at amortised cost
including debt securities
0.3
7.1
26.5
32.7
9.1
45.9
1.7
Note
1Other financial assets subject to impairment excluded in the table above include cash collateral and settlement balances, reverse repurchase
agreements and other similar secured lending, financial assets at fair value through other comprehensive income and other assets. These have a
total gross exposure of \u00a3186.1bn and an impairment allowance of \u00a3145m. This comprises \u00a317m impairment allowance on \u00a3184.4bn Stage 1
exposure, \u00a38m on \u00a31.6bn Stage 2\u00a0exposure and \u00a3120m on \u00a3123m Stage 3 exposure. Loan commitments and financial guarantee contracts have
total impairment allowance of \u00a3398m .
\u00a0 \u00a0
Barclays Bank Group (audited)
Stage 2
As at 31 December 2024
Stage 1
Not past
due
<=30 days
past due
>30 days
past due
Total
Stage 3
Total 1
Gross exposure
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
4,537
9
\u2014
141
150
310
4,997
Retail credit cards
17,629
2,449
256
248
2,953
1,724
22,306
Retail other
3,329
177
157
70
404
216
3,949
Corporate loans
107,194
7,944
137
66
8,147
1,654
116,995
Total loans and advances at amortised cost
132,689
10,579
550
525
11,654
3,904
148,247
Debt securities at amortised cost
47,077
3,170
\u2014
\u2014
3,170
\u2014
50,247
Total loans and advances at amortised cost
including debt securities
179,766
13,749
550
525
14,824
3,904
198,494
Impairment allowance
Retail mortgages
8
1
\u2014
\u2014
1
32
41
Retail credit cards
334
552
105
150
807
1,416
2,557
Retail other
5
1
\u2014
\u2014
1
25
31
Corporate loans
144
240
6
8
254
393
791
Total loans and advances at amortised cost
491
794
111
158
1,063
1,866
3,420
Debt securities at amortised cost
9
11
\u2014
\u2014
11
\u2014
20
Total loans and advances at amortised cost
including debt securities
500
805
111
158
1,074
1,866
3,440
Net exposure
Retail mortgages
4,529
8
\u2014
141
149
278
4,956
Retail credit cards
17,295
1,897
151
98
2,146
308
19,749
Retail other
3,324
176
157
70
403
191
3,918
Corporate loans
107,050
7,704
131
58
7,893
1,261
116,204
Total loans and advances at amortised cost
132,198
9,785
439
367
10,591
2,038
144,827
Debt securities at amortised cost
47,068
3,159
\u2014
\u2014
3,159
\u2014
50,227
Total loans and advances at amortised cost
including debt securities
179,266
12,944
439
367
13,750
2,038
195,054
Coverage ratio
%
%
%
%
%
%
%
Retail mortgages
0.2
11.1
\u2014
\u2014
0.7
10.3
0.8
Retail credit cards
1.9
22.5
41.0
60.5
27.3
82.1
11.5
Retail other
0.2
0.6
\u2014
\u2014
0.2
11.6
0.8
Corporate loans
0.1
3.0
4.4
12.1
3.1
23.8
0.7
Total loans and advances at amortised cost
0.4
7.5
20.2
30.1
9.1
47.8
2.3
Debt securities at amortised cost
\u2014
0.3
\u2014
\u2014
0.3
\u2014
\u2014
Total loans and advances at amortised cost
including debt securities
0.3
5.9
20.2
30.1
7.2
47.8
1.7
Note
1Other financial assets subject to impairment excluded in the table above include cash collateral and settlement balances, reverse repurchase
agreements and other similar secured lending, financial assets at fair value through other comprehensive income and other assets. These have a
total gross exposure of \u00a3169.6bn and an impairment allowance of \u00a3150m. This comprises \u00a317m impairment allowance on \u00a3168.3bn Stage 1
exposure, \u00a37m on \u00a31.1bn Stage 2\u00a0exposure and \u00a3126m on \u00a3130m Stage 3 exposure. Loan commitments and financial guarantee contracts have
total impairment allowance of \u00a3420m.
Movement in gross exposures and impairment allowance including provisions for loan commitments and financial
guarantees (audited)
The following tables present a reconciliation of the opening to the closing balance of the gross exposure and impairment
allowance.
Transfers between stages in the tables have been reflected as if they had taken place at the beginning of the year. 'Net
drawdowns, repayments, net re-measurement and movements due to exposure and risk parameter changes' includes
additional drawdowns and partial repayments from existing facilities. Additionally, the below tables do not include other
financial assets subject to impairment such as debt securities at amortised cost, reverse repurchase agreements and other
similar secured lending, cash collateral and settlement balances, financial assets at fair value through other comprehensive
income and other assets.
The movements are measured over a 12-month period.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2025
4,537
8
150
1
310
32
4,997
41
Transfers from Stage 1 to Stage 2
(92)
\u2014
92
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
80
\u2014
(80)
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(27)
\u2014
(15)
\u2014
42
\u2014
\u2014
\u2014
Transfers from Stage 3
59
2
2
\u2014
(61)
(2)
\u2014
\u2014
Business activity in the year
635
1
\u2014
\u2014
\u2014
\u2014
635
1
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
135
(1)
2
\u2014
(19)
8
118
7
Final repayments
(653)
(1)
(14)
\u2014
(80)
(1)
(747)
(2)
Disposals1
\u2014
\u2014
(1)
(1)
(9)
(5)
(10)
(6)
Write-offs
\u2014
\u2014
\u2014
\u2014
(8)
(8)
(8)
(8)
As at 31\u00a0December 2025
4,674
9
136
\u2014
175
24
4,985
33
Retail credit cards
As at 1 January 2025
17,629
334
2,953
807
1,724
1,416
22,306
2,557
Transfers from Stage 1 to Stage 2
(1,047)
(35)
1,047
35
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
1,208
268
(1,208)
(268)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(515)
(20)
(731)
(286)
1,246
306
\u2014
\u2014
Transfers from Stage 3
12
9
5
4
(17)
(13)
\u2014
\u2014
Business activity in the year2
2,575
75
237
87
60
40
2,872
202
Refinements to models used for calculation3
\u2014
68
\u2014
(81)
\u2014
1
\u2014
(12)
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
(980)
(299)
262
508
(45)
793
(763)
1,002
Final repayments
(81)
(5)
(29)
(10)
(32)
(26)
(142)
(41)
Disposals1
\u2014
\u2014
\u2014
\u2014
(308)
(270)
(308)
(270)
Write-offs
\u2014
\u2014
\u2014
\u2014
(852)
(852)
(852)
(852)
As at 31\u00a0December 2025
18,801
395
2,536
796
1,776
1,395
23,113
2,586
Retail other
As at 1 January 2025
3,329
5
404
1
216
25
3,949
31
Transfers from Stage 1 to Stage 2
(107)
\u2014
107
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
80
\u2014
(80)
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(75)
\u2014
(35)
\u2014
110
\u2014
\u2014
\u2014
Transfers from Stage 3
56
1
\u2014
\u2014
(56)
(1)
\u2014
\u2014
Business activity in the year
1,155
\u2014
24
\u2014
\u2014
\u2014
1,179
\u2014
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to exposure
and risk parameter changes
1,176
4
158
4
23
8
1,357
16
Final repayments
(1,826)
(3)
(313)
\u2014
(179)
(5)
(2,318)
(8)
Disposals
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Write-offs
\u2014
\u2014
\u2014
\u2014
(7)
(7)
(7)
(7)
As at 31\u00a0December 2025
3,788
7
265
5
107
20
4,160
32
Notes
1 The \u00a310m of gross disposals reported within Retail mortgages relate to sale of the Italian mortgage portfolio. The \u00a3308m of gross disposals
reported within Retail credit cards relate to debt sales undertaken during the year.
2 Business activity in the year reported within Retail credit cards includes \u00a31.2bn related to acquisition of the GM co-branded card portfolio within
USCB.
3 Refinements to models used for calculation reported within Retail credit cards include a \u00a3(12)m movement in the calculated ECL for the US Cards
portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to determine
accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over an
extended period of time. This helps to ensure that the models used continue to reflect the risks inherent in the businesses.
\u00a0 \u00a0 \u00a0
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Corporate loans
As at 1 January 2025
107,194
144
8,147
254
1,654
393
116,995
791
Transfers from Stage 1 to Stage 2
(2,685)
(11)
2,685
11
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
2,417
46
(2,417)
(46)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(692)
(4)
(505)
(28)
1,197
32
\u2014
\u2014
Transfers from Stage 3
146
2
125
1
(271)
(3)
\u2014
\u2014
Business activity in the year1
28,266
40
976
37
225
19
29,467
96
Refinements to models used for calculation2
\u2014
(65)
\u2014
(24)
\u2014
\u2014
\u2014
(89)
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
4,088
14
842
81
(50)
405
4,880
500
Final repayments
(27,104)
(24)
(1,695)
(49)
(40)
(1)
(28,839)
(74)
Disposals3
(1)
(1)
(2)
(2)
(121)
(21)
(124)
(24)
Write-offs
\u2014
\u2014
\u2014
\u2014
(234)
(234)
(234)
(234)
As at 31\u00a0December 2025
111,629
141
8,156
235
2,360
590
122,145
966
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Reconciliation of ECL movement to credit impairment charge/(release) for the period
Stage 1
Stage 2
Stage 3
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
1
\u2014
5
6
Retail credit cards
61
(11)
1,101
1,151
Retail other
2
4
2
8
Corporate loans
(2)
(17)
452
433
ECL movement excluding disposals and write-offs4
62
(24)
1,560
1,598
ECL movement on loan commitments and financial guarantees
(23)
(6)
7
(22)
ECL movement on other financial assets
\u2014
1
(6)
(5)
ECL movement on debt securities at amortised cost
1
(2)
\u2014
(1)
Recoveries and reimbursements5
10
(26)
(102)
(118)
ECL charge on assets held for sale6
181
Total exchange and other adjustments
233
Total credit impairment charge for the year
1,866
Notes
1 Business activity in the year reported within Corporate loans include \u00a30.1bn related to acquisition of the GM co-branded card portfolio within
USCB.
2 Refinements to models used for calculation reported within Corporate loans include a \u00a3(89)m movement in the calculated ECL for the UKCB and
IB portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to
determine accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over
an extended period of time. This helps to ensure that the models used continue to reflect the risks inherent in the businesses.
3 The \u00a3124m of gross disposals reported within Corporate loans relate to debt sales undertaken during the year.
4 In 2025, gross write-offs amounted to \u00a31,101m and post write-off recoveries amounted to \u00a338m. Net write-offs represent gross write-offs less
post write-off recoveries and amounted to \u00a31,063m.
5 Recoveries and reimbursements include \u00a380m for reimbursements where the Barclays Bank Group has entered into financial guarantee
contracts which provide credit protection over certain assets with third parties and cash recoveries of previously written-off amounts of \u00a338m.
6 ECL charge on assets held for sale relate to the charges on a co-branded card portfolio in USCB and the German consumer finance business.
Loan commitments and financial guarantees
(audited)1
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2025
18
\u2014
\u2014
\u2014
1
\u2014
19
\u2014
Net transfers between stages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Business activity in the year
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(5)
\u2014
\u2014
\u2014
(1)
\u2014
(6)
\u2014
Limit management and final repayments
(3)
\u2014
\u2014
\u2014
\u2014
\u2014
(3)
\u2014
As at 31 December 2025
10
\u2014
\u2014
\u2014
\u2014
\u2014
10
\u2014
Retail credit cards
As at 1 January 2025
112,645
34
1,648
15
10
1
114,303
50
Net transfers between stages
(1,083)
7
1,083
(7)
\u2014
\u2014
\u2014
\u2014
Business activity in the year
24,319
11
120
2
\u2014
\u2014
24,439
13
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(6,434)
(19)
(1,528)
5
\u2014
(1)
(7,962)
(15)
Limit management and final repayments
(11,277)
(7)
(196)
(4)
\u2014
\u2014
(11,473)
(11)
Disposals2
(5,291)
\u2014
(221)
\u2014
(10)
\u2014
(5,522)
\u2014
As at 31 December 2025
112,879
26
906
11
\u2014
\u2014
113,785
37
Retail other
As at 1 January 2025
3,970
5
103
\u2014
11
\u2014
4,084
5
Net transfers between stages
(28)
\u2014
29
\u2014
(1)
\u2014
\u2014
\u2014
Business activity in the year
624
\u2014
1
\u2014
\u2014
\u2014
625
\u2014
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
291
(4)
46
\u2014
23
\u2014
360
(4)
Limit management and final repayments
(784)
\u2014
(33)
\u2014
(20)
\u2014
(837)
\u2014
Disposals2
(756)
\u2014
(30)
\u2014
(1)
\u2014
(787)
\u2014
As at 31 December 2025
3,317
1
116
\u2014
12
\u2014
3,445
1
Corporate loans
As at 1 January 2025
229,565
116
15,079
225
954
24
245,598
365
Net transfers between stages
(201)
40
269
(40)
(68)
\u2014
\u2014
\u2014
Business activity in the year
50,364
28
2,699
61
405
\u2014
53,468
89
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
9,810
(54)
(492)
33
(282)
13
9,036
(8)
Limit management and final repayments
(60,919)
(26)
(4,259)
(56)
(340)
(4)
(65,518)
(86)
As at 31 December 2025
228,619
104
13,296
223
669
33
242,584
360
Notes
1 Loan commitments reported also include exposure relating to financial assets classified as held for sale.
2 The gross disposals reported within Retail credit cards and Retail other relate to the German consumer finance business; sale of which was
completed in Q125.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2024
7,257
11
389
28
716
321
8,362
360
Transfers from Stage 1 to Stage 2
(231)
\u2014
231
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
91
3
(91)
(3)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(82)
\u2014
(30)
(3)
112
3
\u2014
\u2014
Transfers from Stage 3
19
1
11
\u2014
(30)
(1)
\u2014
\u2014
Business activity in the year
632
1
\u2014
\u2014
2
\u2014
634
1
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
197
(2)
(2)
9
69
40
264
47
Final repayments
(893)
(1)
(45)
(1)
(86)
(3)
(1,024)
(5)
Disposals1
(2,453)
(5)
(313)
(29)
(461)
(316)
(3,227)
(350)
Write-offs
\u2014
\u2014
\u2014
\u2014
(12)
(12)
(12)
(12)
As at 31 December 2024
4,537
8
150
1
310
32
4,997
41
Retail credit cards
As at 1 January 2024
22,315
412
3,450
1,138
1,522
1,226
27,287
2,776
Transfers from Stage 1 to Stage 2
(1,503)
(51)
1,503
51
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
1,170
321
(1,170)
(321)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(616)
(24)
(876)
(390)
1,492
414
\u2014
\u2014
Transfers from Stage 3
10
9
8
5
(18)
(14)
\u2014
\u2014
Business activity in the year
1,508
33
206
59
20
18
1,734
110
Refinements to models used for calculation2
\u2014
5
\u2014
2
\u2014
4
\u2014
11
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
1,039
(280)
728
506
(45)
973
1,722
1,199
Final repayments
(108)
(7)
(32)
(13)
(1)
\u2014
(141)
(20)
Transfers to assets held for Sale3
(5,495)
(64)
(689)
(161)
(57)
(46)
(6,241)
(271)
Disposals1
(691)
(20)
(175)
(69)
(249)
(219)
(1,115)
(308)
Write-offs
\u2014
\u2014
\u2014
\u2014
(940)
(940)
(940)
(940)
As at 31 December 2024
17,629
334
2,953
807
1,724
1,416
22,306
2,557
Retail other
As at 1 January 2024
2,734
8
369
2
308
35
3,411
45
Transfers from Stage 1 to Stage 2
(221)
\u2014
221
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
86
\u2014
(86)
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(148)
\u2014
(53)
\u2014
201
\u2014
\u2014
\u2014
Transfers from Stage 3
82
\u2014
47
\u2014
(129)
\u2014
\u2014
\u2014
Business activity in the year
1,159
1
\u2014
\u2014
\u2014
\u2014
1,159
1
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
1,640
\u2014
36
\u2014
74
13
1,750
13
Final repayments
(2,003)
(4)
(130)
(1)
(224)
(9)
(2,357)
(14)
Disposals
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Write-offs
\u2014
\u2014
\u2014
\u2014
(14)
(14)
(14)
(14)
As at 31 December 2024
3,329
5
404
1
216
25
3,949
31
Notes
1 The \u00a33.2bn of gross disposals reported within Retail mortgages relate to sale of the Italian mortgage loans. The \u00a31.1bn of\u00a0 gross disposals
reported within Retail credit cards include \u00a30.9bn sale of outstanding US Cards receivables to Blackstone and \u00a30.2bn of other debt sale
undertaken during the year.
2 Refinements to models used for calculation reported within Retail credit cards include a \u00a311 m movement in the calculated ECL for the US
Cards portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to
determine accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation
over an extended period of time. This helps to ensure that the models used continue to reflect the risks inherent across the businesses.
3 Transfers to assets held for sale reported within Retail credit cards relate to a co-branded card portfolio within USCB.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Corporate loans
As at 1 January 2024
100,956
179
8,967
309
1,235
348
111,158
836
Transfers from Stage 1 to Stage 2
(2,586)
(15)
2,586
15
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
2,098
42
(2,098)
(42)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(404)
(2)
(392)
(21)
796
23
\u2014
\u2014
Transfers from Stage 3
143
1
23
5
(166)
(6)
\u2014
\u2014
Business activity in the year
28,497
39
811
34
183
19
29,491
92
Refinements to models used for calculation 1
\u2014
18
\u2014
51
\u2014
\u2014
\u2014
69
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
3,957
(76)
198
\u2014
6
270
4,161
194
Final repayments
(25,406)
(40)
(1,937)
(92)
(142)
(3)
(27,485)
(135)
Transfers to assets held for sale2
(49)
(1)
(9)
(3)
(1)
(1)
(59)
(5)
Disposals3
(12)
(1)
(2)
(2)
(2)
(2)
(16)
(5)
Write-offs
\u2014
\u2014
\u2014
\u2014
(255)
(255)
(255)
(255)
As at 31 December 2024
107,194
144
8,147
254
1,654
393
116,995
791
Reconciliation of ECL movement to credit impairment (release)/charge for the period
Stage 1
Stage 2
Stage 3
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
2
2
39
43
Retail credit cards
6
(101)
1,395
1,300
Retail other
(3)
(1)
4
\u2014
Corporate loans
(33)
(50)
303
220
ECL movement excluding assets held for sale, disposals and write-offs4
(28)
(150)
1,741
1,563
ECL movement on loan commitments and financial guarantees
(12)
(23)
(18)
(53)
ECL movement on other financial assets
3
6
(4)
5
ECL movement on debt securities at amortised cost
2
(6)
\u2014
(4)
Recoveries and reimbursements5
(20)
23
(42)
(39)
ECL charge on Assets held for sale6
74
Total exchange and other adjustments
71
Total credit impairment charge for the year
1,617
Notes
1 Refinements to models used for calculation reported within Corporate loans include a \u00a369m movement in the calculated ECL for the IB portfolio.
These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to determine accuracy
of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over an extended period
of time. This helps to ensure that the models used continue to reflect the risks inherent across the businesses.
2 Transfers to assets held for sale reported within Corporate loans relate to a co-branded card portfolio within USCB.
3 The \u00a316m of gross disposals reported within Corporate loans relate to debt sales undertaken during the year.
4 In 2024, gross write-offs amounted to \u00a31,221m and post write-off recoveries amounted to \u00a328m. Net write-offs represent gross write-offs less
post write-off recoveries and amounted to \u00a31,193m.
5 Recoveries and reimbursements include \u00a311m for reimbursements where the Barclays Bank Group has entered into financial guarantee
contracts which provide credit protection over certain assets with third parties and cash recoveries of previously written off amounts of \u00a328m.
6 ECL charge on assets held for sale relate to the German consumer finance business.
Loan commitments and financial guarantees
(audited) 1
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2024
41
\u2014
\u2014
\u2014
1
\u2014
42
\u2014
Net transfers between stages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Business activity in the year
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(16)
\u2014
\u2014
\u2014
\u2014
\u2014
(16)
\u2014
Limit management and final repayments
(7)
\u2014
\u2014
\u2014
\u2014
\u2014
(7)
\u2014
As at 31 December 2024
18
\u2014
\u2014
\u2014
1
\u2014
19
\u2014
Retail credit cards
As at 1 January 2024
109,634
48
1,767
36
10
1
111,411
85
Net transfers between stages
(1,682)
20
1,675
(20)
7
\u2014
\u2014
\u2014
Business activity in the year
15,489
11
160
3
1
\u2014
15,650
14
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
2,467
(34)
(1,576)
11
(8)
\u2014
883
(23)
Limit management and final repayments
(13,263)
(11)
(378)
(15)
\u2014
\u2014
(13,641)
(26)
As at 31 December 2024
112,645
34
1,648
15
10
1
114,303
50
Retail other
As at 1 January 2024
3,446
5
116
2
29
\u2014
3,591
7
Net transfers between stages
(35)
\u2014
23
\u2014
12
\u2014
\u2014
\u2014
Business activity in the year
741
2
1
\u2014
\u2014
\u2014
742
2
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
621
(2)
(26)
(2)
(7)
\u2014
588
(4)
Limit management and final repayments
(803)
\u2014
(11)
\u2014
(23)
\u2014
(837)
\u2014
As at 31 December 2024
3,970
5
103
\u2014
11
\u2014
4,084
5
Corporate loans
As at 1 January 2024
212,414
114
20,035
225
802
42
233,251
381
Net transfers between stages
1,240
29
(1,519)
(32)
279
3
\u2014
\u2014
Business activity in the year
50,350
33
1,650
30
192
\u2014
52,192
63
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
10,133
(34)
(1,391)
65
(31)
(13)
8,711
18
Limit management and final repayments
(44,572)
(26)
(3,696)
(63)
(288)
(8)
(48,556)
(97)
As at 31 December 2024
229,565
116
15,079
225
954
24
245,598
365
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Note
1Loan commitments reported also include exposure relating to financial assets classified as held for sale.
Management adjustments to models for impairment (audited)
Management adjustments to impairment models are applied in order to factor in certain conditions or changes in policy that
are not fully incorporated into the impairment models, or to reflect additional facts and circumstances at the period end.
Management adjustments are reviewed and incorporated into future model development where applicable.
Management adjustments are captured through \u201cEconomic uncertainty\u201d and \u201cOther\u201d adjustments, and are presented by
product below:
Management adjustments to models for impairment allowance presented by product (audited)
Barclays Bank Group
Impairment
allowance pre
management
adjustments1
Economic
uncertainty
adjustments
(a)
Other
adjustments
(b)
Management\u00a0
adjustments2
(a+b)
Total
impairment
allowance3
Proportion of
Management
adjustments
to total
impairment
allowance
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail mortgages
25
\u2014
8
8
33
24.2
Retail credit cards
2,505
31
87
118
2,623
4.5
Retail other
34
\u2014
(1)
(1)
33
(3.0)
Corporate loans
1,253
49
24
73
1,326
5.5
Total
3,817
80
118
198
4,015
4.9
Debt securities at amortised cost
18
1
\u2014
1
19
5.3
Total including debt securities at amortised cost
3,835
81
118
199
4,034
4.9
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail mortgages
38
\u2014
3
3
41
7.3
Retail credit cards
2,630
\u2014
(23)
(23)
2,607
(0.9)
Retail other
32
\u2014
4
4
36
11.1
Corporate loans
1,162
\u2014
(6)
(6)
1,156
(0.5)
Total
3,862
\u2014
(22)
(22)
3,840
(0.6)
Debt securities at amortised cost
27
\u2014
(7)
(7)
20
(35.0)
Total including debt securities at amortised cost
3,889
\u2014
(29)
(29)
3,860
(0.8)
Notes
1\u00a0 \u00a0 \u00a0 Includes \u00a33.4bn (2024: \u00a33.7bn) of modelled ECL, \u00a30.5bn (2024: \u00a30.3bn) of individually assessed impairments, \u00a3(0.2)bn (2024: \u00a3(0.3)bn) of
ECL from assets held for sale (co-branded card portfolio) and \u00a30.1bn (2024: \u00a30.1bn) of ECL from benchmarked exposures and debt securities.
2\u00a0 \u00a0 \u00a0 Management adjustments related to other financial assets subject to impairment not included in the table above include cash collateral and
settlement balances \u00a31m (2024: \u00a3(1)m), reverse repurchase agreements \u00a31m (2024: \u00a3(2)m) and financial assets at fair value through other
comprehensive income \u00a3nil (2024: \u00a3(2)m) within the IB portfolio.
3\u00a0 \u00a0 \u00a0 Total impairment allowance consists of ECL stock on drawn and undrawn exposures.
Economic uncertainty adjustments presented by stage (audited)
Stage 1
Stage 2
Stage 3
Total
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
\u2014
\u2014
\u2014
\u2014
Retail credit cards
\u2014
31
\u2014
31
Retail other
\u2014
\u2014
\u2014
\u2014
Corporate loans
16
33
\u2014
49
Total
16
64
\u2014
80
Debt Securities at amortised cost
1
\u2014
\u2014
1
Total including debt securities at amortised cost
17
64
\u2014
81
Economic uncertainty adjustments
Economic uncertainty adjustments are captured in two ways. First, customer uncertainty: the identification of customers
and clients who may be more vulnerable to economic instability; and second, model uncertainty: to capture the impact of
model limitations and sensitivities to specific macroeconomic parameters, which are applied at a portfolio level.
The Barclays Bank Group continues to monitor the elevated tariffs, trade tensions, and geopolitical risks, especially in the US.
In response, an adjustment of \u00a381m introduced during Q125 within customer and client uncertainty provisions has been
retained, with any resulting effects on customer behaviour yet to materialise.
Other adjustments
Other adjustments are operational and remain in place until incorporated into the underlying models. These adjustments
result from data limitations and model performance related issues identified through model monitoring and other
established governance processes.
Total other adjustments as at 31 December 2025 are \u00a3118m (2024: \u00a3(29)m) and include:
\u2022 Retail mortgages \u00a38m (2024: \u00a33m): Reflects operational adjustments in the Mortgage product of the Private Banking
portfolio
\u2022 Retail credit cards \u00a387m (2024: \u00a3(23)m): This adjustment reflects provisioning for the GM consumer cards portfolio
acquired during the year, while the previously held high-risk account management (HRAM) adjustment was retired
following model remediation in USCB
\u2022 Corporate loans \u00a324m (2024: \u00a3(6)m): This adjustment reflects provisioning for the GM business cards portfolio
acquired during the year
\u2022 Debt securities \u00a3 nil (2024: \u00a3(7)m): The movement is driven by the retirement of the Exposure at Default recalibration
adjustment following model remediation in the IB portfolio
Scenario weighting (audited)1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
%
%
%
%
%
As at 31 December 2025
Scenario weighting
14.4
27.4
38.5
12.7
7.0
As at 31 December 2024
Scenario weighting
17.4
26.8
32.5
14.7
8.6
Note
1For further details on changes to scenario weights see page 185.
Specific bases show the most extreme position of each variable in the context of the downside/upside scenarios, for
example, the highest unemployment for downside scenarios, average unemployment for baseline scenarios and lowest
unemployment for upside scenarios. GDP and HPI downside and upside scenario data represents the lowest and highest
points relative to the start point in the 20 quarter period.
Macroeconomic variables used in the calculation of ECL (specific bases) (audited)1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
%
%
%
%
%
As at 31 December 2025
UK GDP 2
14.5
10.8
1.4
(0.3)
(3.5)
UK unemployment3
3.8
4.3
4.8
6.5
8.1
UK HPI 4
34.6
24.9
3.0
(12.6)
(28.0)
UK bank rate3
2.3
2.8
3.6
4.6
4.6
US GDP 2
14.6
12.4
2.0
(0.2)
(4.6)
US unemployment3
3.7
4.1
4.4
6.6
8.8
US HPI 4
26.2
19.3
2.4
(1.5)
(8.1)
US federal funds rate3
2.5
2.8
3.5
4.3
4.3
As at 31 December 2024
UK GDP 2
15.0
11.6
1.4
0.2
(2.9)
UK unemployment3
3.4
3.9
4.4
6.5
8.4
UK HPI 4
36.3
25.9
3.0
(11.3)
(26.8)
UK bank rate3
2.8
3.3
4.2
5.3
5.3
US GDP 2
14.9
12.8
2.2
0.4
(2.1)
US unemployment3
3.5
3.8
4.2
5.9
7.5
US HPI 4
30.1
24.4
3.5
1.1
(4.0)
US federal funds rate3
2.8
3.3
4.2
5.3
5.3
Average basis represents the average quarterly value of variables in the 20 quarter period with GDP and HPI based on yearly
average and quarterly CAGRs respectively.
Macroeconomic variables used in the calculation of ECL (5 year averages) (audited) 1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
%
%
%
%
%
As at 31 December 2025
UK GDP 5
2.7
2.0
1.4
0.9
0.3
UK unemployment6
4.1
4.5
4.8
5.5
6.2
UK HPI 7
6.1
4.5
3.0
0.6
(2.0)
UK bank rate6
2.9
3.2
3.6
2.7
1.7
US GDP 5
2.7
2.4
2.0
1.1
0.1
US unemployment6
3.9
4.1
4.4
5.4
6.3
US HPI 7
4.8
3.6
2.4
1.9
1.5
US federal funds rate6
2.9
3.2
3.5
3.1
2.5
As at 31 December 2024
UK GDP 5
2.6
2.0
1.4
0.9
0.5
UK unemployment6
3.7
4.0
4.4
5.3
6.1
UK HPI 7
6.4
4.7
3.0
0.8
(1.6)
UK bank rate6
3.5
3.9
4.2
3.3
2.4
US GDP 5
2.9
2.5
2.2
1.7
1.2
US unemployment6
3.7
3.9
4.2
5.0
5.8
US HPI 7
5.4
4.5
3.5
2.4
1.2
US federal funds rate6
3.6
4.0
4.2
3.2
2.1
Notes
1\u00a0 \u00a0 UK GDP = Real GDP growth seasonally adjusted; UK unemployment = UK unemployment rate 16-year+; UK HPI (31.12.24) = Halifax All Houses,
All Buyers Index; UK HPI (31.12.25) = Halifax HPI Meth2 All Houses, All Buyers index; US GDP = Real GDP growth seasonally adjusted; US
unemployment = US civilian unemployment rate 16-year+; US HPI = FHFA house price index. 20 quarter period starts from Q125 (2024: Q124).
2\u00a0 Maximum growth relative to Q424 (2024: Q423), based on 20 quarter period in Upside scenarios; 5-year yearly average CAGR in Baseline;
minimum growth relative to Q424 (2024: Q423), based on 20 quarter period in Downside scenarios.
3\u00a0 \u00a0 Lowest quarter in Upside scenarios; 5-year average in Baseline; highest quarter in Downside scenarios. Period based on 20 quarters from Q125
(2024: Q124).
4\u00a0 \u00a0 Maximum growth relative to Q424 (2024: Q423), based on 20 quarter period in Upside scenarios; 5-year quarter end CAGR in Baseline;
minimum growth relative to Q424 (2024: Q423), based on 20 quarter period in Downside scenarios.
5\u00a0 \u00a0 5-year yearly average CAGR, starting 2024 ( 2024: 2023).
6\u00a0 \u00a0 5-year average. Period based on 20 quarters from Q125 (2024: Q124).
7\u00a0 \u00a0 5 -year quarter end CAGR, starting Q424 (2024: Q423).
ECL sensitivity analysis (audited)
The table below shows the modelled ECL assuming each of the five modelled scenarios are 100% weighted with the
dispersion of results around the Baseline, highlighting the impact on exposure and ECL across the scenarios.
Model exposure uses exposure at default (EAD) values and is not directly comparable to gross exposure used in other
disclosures.
Barclays Bank Group (audited)
Scenarios
As at 31 December 2025
Weighted1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
Stage 1 Model exposure (\u00a3m)
Retail mortgages
13
13
13
13
13
13
Retail credit cards2
41,195
40,997
41,089
41,197
41,419
41,583
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans2
201,622
202,562
202,203
201,950
200,869
197,068
Stage 1 Model ECL (\u00a3m)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards 2
448
420
434
450
475
500
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans 2
197
172
180
188
233
280
Stage 1 Coverage (%)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
1.1
1.0
1.1
1.1
1.1
1.2
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
0.1
0.1
0.1
0.1
0.1
0.1
Stage 2 Model exposure (\u00a3m)
Retail mortgages
1
1
1
1
1
1
Retail credit cards 2
3,513
3,392
3,455
3,504
3,634
3,837
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans 2
15,180
14,097
14,510
14,869
16,082
20,024
Stage 2 Model ECL (\u00a3m)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards 2
871
809
840
868
936
1,029
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans 2
410
331
356
387
521
771
Stage 2 Coverage (%)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
24.8
23.9
24.3
24.8
25.8
26.8
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
2.7
2.3
2.5
2.6
3.2
3.9
Stage 3 Model exposure (\u00a3m)3
Retail mortgages
15
15
15
15
15
15
Retail credit cards 2
1,975
1,975
1,975
1,975
1,975
1,975
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans2
35
35
35
35
35
35
Stage 3 Model ECL (\u00a3m)
Retail mortgages
2
1
1
2
2
2
Retail credit cards2
1,498
1,455
1,479
1,503
1,534
1,563
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans2,4
25
25
25
25
25
25
Stage 3 Coverage (%)
Retail mortgages
13.3
6.7
6.7
13.3
13.3
13.3
Retail credit cards
75.8
73.7
74.9
76.1
77.7
79.1
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans4
71.4
71.4
71.4
71.4
71.4
71.4
Total Model ECL (\u00a3m)
Retail mortgages
2
1
1
2
2
2
Retail credit cards2
2,817
2,684
2,753
2,821
2,945
3,092
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans2,4
632
528
561
600
779
1,076
Total Model ECL
3,451
3,213
3,315
3,423
3,726
4,170
Reconciliation to total ECL
\u00a3m
Total weighted model ECL
3,451
ECL from individually assessed exposures4
538
ECL from benchmarked exposures and others
63
ECL from debt securities at amortised cost
19
ECL from held for sale assets (co-branded card portfolio)
(235)
ECL from post model management adjustments
198
\u00a0 Of which: ECL from economic uncertainty adjustments
80
Total ECL
4,034
Notes
1. Model exposures are allocated to a stage based on an individual scenario rather than a probability-weighted approach, as required for Barclays
reported impairment allowance. As a result, it is not possible to back solve the final reported weighted ECL from individual scenarios given
balances may be assigned to a different stage dependent on the scenario.
2. Model exposure and ECL reported within Retail credit cards and Corporate loans continue to include a co-branded card portfolio in USCB,
classified as assets held for sale.
3. Model exposures allocated to Stage 3 do not change in any of the scenarios as the transition criteria relies only on observable evidence of
default as at 31 December 2025 and not on the macroeconomic scenario.
4. Material corporate loan defaults are individually assessed across different recovery strategies. As a result, ECL of \u00a3538m is reported as an
individually assessed impairment in the reconciliation table.
The use of five scenarios with associated weightings results in a total weighted ECL uplift from the Baseline ECL of 0.8%.
Retail mortgages: Total weighted ECL of \u00a32m is aligned to the Baseline ECL (\u00a32m).
Retail credit cards: Total weighted ECL of \u00a32,817m is broadly aligned to the Baseline ECL (\u00a32,821m). Total ECL increases to
\u00a33,092m under the Downside 2 scenario, driven by an increase in US unemployment rate.
Corporate loans: Total weighted ECL of \u00a3632m represents a 5.3% increase over the Baseline ECL (\u00a3600m). Total ECL
increases to \u00a31,076m under the Downside 2 scenario, primarily driven by a decrease in US GDP.
Barclays Bank Group (audited)
Scenarios1
As at 31 December 2024
Weighted2
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
Stage 1 Model exposure (\u00a3m)
Retail mortgages
9
9
9
9
9
9
Retail credit cards
45,377
45,328
45,352
45,377
45,429
45,462
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
193,873
194,752
194,413
194,151
193,208
189,985
Stage 1 Model ECL (\u00a3m)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
422
410
417
423
431
438
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
237
206
215
226
272
318
Stage 1 Coverage (%)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
0.9
0.9
0.9
0.9
0.9
1.0
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
0.1
0.1
0.1
0.1
0.1
0.2
Stage 2 Model exposure (\u00a3m)
Retail mortgages
3
3
3
3
3
3
Retail credit cards
4,591
4,516
4,554
4,590
4,660
4,752
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
17,769
16,740
17,134
17,508
18,576
21,956
Stage 2 Model ECL (\u00a3m)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
1,024
976
999
1,023
1,070
1,127
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
464
373
404
439
569
813
Stage 2 Coverage (%)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
22.3
21.6
21.9
22.3
23.0
23.7
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
2.6
2.2
2.4
2.5
3.1
3.7
Stage 3 Model exposure (\u00a3m)3
Retail mortgages
25
25
25
25
25
25
Retail credit cards
2,005
2,005
2,005
2,005
2,005
2,005
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
34
34
34
34
34
34
Stage 3 Model ECL (\u00a3m)
Retail mortgages
5
4
5
5
5
5
Retail credit cards
1,535
1,496
1,517
1,537
1,570
1,598
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans4
25
25
25
25
25
25
Stage 3 Coverage (%)
Retail mortgages
20.0
16.0
20.0
20.0
20.0
20.0
Retail credit cards
76.6
74.6
75.7
76.7
78.3
79.7
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans4
73.5
73.5
73.5
73.5
73.5
73.5
Total Model ECL (\u00a3m)
Retail mortgages
5
4
5
5
5
5
Retail credit cards
2,981
2,882
2,933
2,983
3,071
3,163
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans4
726
604
644
690
866
1,156
Total Model ECL
3,712
3,490
3,582
3,678
3,942
4,324
Reconciliation to total ECL
\u00a3m
Total weighted model ECL
3,712
ECL from individually assessed exposures4
329
ECL from benchmarked exposures and others
103
ECL from debt securities at amortised cost
20
ECL from held for sale assets (co-branded card portfolio)
(282)
ECL from post model management adjustments 5
(22)
\u00a0 Of which: ECL from economic uncertainty adjustments
\u2014
Total ECL
3,860
Notes
1. Model exposure and ECL reported within Retail credit cards and Retail Other excludes the German consumer finance business, sale of
which completed after the balance sheet date. Model exposure and ECL reported within Retail credit cards and Corporate loans continue
to include a co-branded card portfolio, as the sale is expected to close in 2026.
2. Model exposures are allocated to a stage based on an individual scenario rather than a probability-weighted approach, as required for
Barclays reported impairment allowance. As a result, it is not possible to back solve the final reported weighted ECL from individual
scenarios given balances may be assigned to a different stage dependent on the scenario.
3. Model exposures allocated to Stage 3 do not change in any of the scenarios as the transition criteria relies only on observable evidence of
default as at 31 December 2024 and not on the macroeconomic scenario.
4. Material corporate loan defaults are individually assessed across different recovery strategies. As a result, ECL of \u00a3329m is reported as an
individually assessed impairment in the reconciliation table.
5. Includes negative operational management adjustments.
Credit risk concentration by Industry and Geography (audited)
Loans and advances at amortised cost net of impairment allowance
Industry
Geography
United
Kingdom
Americas
Europe
Others
Total
Barclays Bank Group
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Agriculture, Food and Forest Products
61
\u2014
74
\u2014
135
Mining and Quarrying
679
357
221
8
1,265
Manufacturing
3,500
1,150
760
361
5,771
Government and central bank
156
\u2014
118
478
752
Banks
1,151
3,435
1,719
2,731
9,036
Energy and water
2,176
1,068
294
324
3,862
Materials and Building
13,376
2,414
397
365
16,552
Wholesale and retail distribution and leisure
6,085
675
251
509
7,520
Transport and storage
693
344
205
125
1,367
Home Loans
2,948
116
832
1,056
4,952
Business and other services
12,163
5,610
4,024
1,405
23,202
Other Financial Institutions
9,482
30,760
8,630
2,845
51,717
Cards, unsecured loans and other personal lending
1,404
20,942
1,409
900
24,655
Total loans and advances at amortised cost
53,874
66,871
18,934
11,107
150,786
Debt securities at amortised cost
18,176
18,854
17,250
873
55,153
Total loans and advances at amortised cost including debt
72,050
85,725
36,184
11,980
205,939
Contingent liabilities
6,780
12,320
5,084
1,544
25,728
Loan commitments
49,003
239,882
35,550
9,661
334,096
Total off-balance sheet1
55,783
252,202
40,634
11,205
359,824
As at 31 December 2024
Agriculture, Food and Forest Products
112
\u2014
\u2014
\u2014
112
Mining and Quarrying
506
709
189
\u2014
1,404
Manufacturing
3,168
1,418
828
349
5,763
Government and central bank
220
\u2014
2
342
564
Banks
1,212
3,573
1,286
2,707
8,778
Energy and water
2,067
401
203
287
2,958
Materials and Building
11,255
2,815
399
218
14,687
Wholesale and retail distribution and leisure
5,931
831
294
616
7,672
Transport and storage
519
421
300
96
1,336
Home Loans
3,079
110
899
868
4,956
Business and other services
11,846
5,196
3,646
1,031
21,719
Other Financial Institutions
10,655
30,788
7,226
2,542
51,211
Cards, unsecured loans and other personal lending
1,826
20,081
993
767
23,667
Total loans and advances at amortised cost
52,396
66,343
16,265
9,823
144,827
Debt securities at amortised cost
15,822
18,062
15,123
1,220
50,227
Total loans and advances at amortised cost including debt
68,218
84,405
31,388
11,043
195,054
Contingent liabilities
6,442
10,742
5,514
2,879
25,577
Loan commitments
46,590
243,612
39,864
8,361
338,427
Total off-balance sheet1
53,032
254,354
45,378
11,240
364,004
Note
1The Off-balance sheet contingent liabilities and loan commitments excludes the fair value balance of \u00a322,197m in 2025 (2024 : \u00a316,338m) and
includes exposures relating to financial assets classified as assets held for sale.
Balance sheet credit quality (audited)
PD Range
PD Range
Barclays Bank Group
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
%
%
%
Cash and balances at central banks
208,544
\u2014
\u2014
208,544
100
\u2014
\u2014
100
Cash collateral and settlement balances
111,541
12,970
8
124,519
90
10
\u2014
100
Loans and advances at amortised cost
Retail mortgages
4,662
138
152
4,952
94
3
3
100
Retail credit cards
5,933
13,141
1,453
20,527
29
64
7
100
Retail other
3,605
424
99
4,128
88
10
2
100
Corporate loans
98,665
19,129
3,385
121,179
81
16
3
100
Total loans\u00a0and\u00a0advances at amortised
cost
112,865
32,832
5,089
150,786
75
22
3
100
Debt securities at amortised cost
54,760
333
60
55,153
99
1
\u2014
100
Reverse repurchase agreements and
other similar secured lending
15,712
1,950
\u2014
17,662
89
11
\u2014
100
Trading portfolio assets:
Debt securities
79,405
14,144
491
94,040
84
15
1
100
Traded loans
5,339
5,241
1,669
12,249
43
43
14
100
Total trading\u00a0portfolio assets
84,744
19,385
2,160
106,289
80
18
2
100
Financial assets at fair value through the
income statement:
Loans and advances
26,317
20,026
542
46,885
56
43
1
100
Debt securities
1,937
930
254
3,121
62
30
8
100
Reverse repurchase agreements
96,968
35,131
501
132,600
73
27
\u2014
100
Other financial assets
41
19
\u2014
60
68
32
\u2014
100
Total financial assets at fair value
through the income statement
125,263
56,106
1,297
182,666
68
31
1
100
Derivative\u00a0financial instruments
237,139
14,617
436
252,192
94
6
\u2014
100
Financial assets at fair value through
other comprehensive income
42,756
62
\u2014
42,818
100
\u2014
\u2014
100
Other assets
566
56
2
624
91
9
\u2014
100
Assets held for sale
2,461
3,130
210
5,801
42
54
4
100
Total on-balance sheet
996,351
141,441
9,262
1,147,054
87
12
1
100
Balance sheet credit quality (audited)
PD Range
PD Range
Barclays Bank Group
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
%
%
%
Cash and balances at central banks
180,365
\u2014
\u2014
180,365
100
\u2014
\u2014
100
Cash collateral and settlement balances
98,590
15,371
26
113,987
87
13
\u2014
100
Loans and advances at amortised cost
Retail mortgages
4,524
153
279
4,956
91
3
6
100
Retail credit cards
7,488
11,063
1,198
19,749
38
56
6
100
Retail other
3,217
503
198
3,918
82
13
5
100
Corporate loans
93,324
19,893
2,987
116,204
80
17
3
100
Total loans\u00a0and\u00a0advances at amortised
cost
108,553
31,612
4,662
144,827
75
22
3
100
Debt securities at amortised cost
49,888
339
\u2014
50,227
99
1
\u2014
100
Reverse repurchase agreements and
other similar secured lending
1,625
1,768
\u2014
3,393
48
52
\u2014
100
Trading portfolio assets:
Debt securities
65,785
11,478
542
77,805
84
15
1
100
Traded loans
2,543
7,442
3,485
13,470
19
55
26
100
Total trading\u00a0portfolio assets
68,328
18,920
4,027
91,275
75
21
4
100
Financial assets at fair value through the
income statement:
Loans and advances
24,252
19,357
573
44,182
55
44
1
100
Debt securities
1,722
1,156
53
2,931
59
39
2
100
Reverse repurchase agreements
103,589
37,565
637
141,791
73
27
\u2014
100
Other financial assets
63
22
\u2014
85
74
26
\u2014
100
Total financial assets at fair value
through the income statement
129,626
58,100
1,263
188,989
68
31
1
100
Derivative\u00a0financial instruments
274,058
18,104
194
292,356
94
6
\u2014
100
Financial assets at fair value through
other comprehensive income
50,960
50
\u2014
51,010
100
\u2014
\u2014
100
Other assets
594
68
3
665
90
10
\u2014
100
Assets held for sale
1,178
8,235
131
9,544
12
87
1
100
Total on-balance sheet
963,765
152,567
10,306
1,126,638
85
14
1
100
Credit exposures by internal PD grade
The below tables represent credit risk profiles by PD grade for loans and advances at amortised cost, contingent liabilities
and loan commitments.
Stage 1 higher risk assets, presented gross of associated collateral held, are of weaker credit quality but have not
significantly deteriorated since origination.
IFRS 9 Stage 1 and Stage 2 classification is not dependent solely on the absolute probability of default but on elements that
determine a significant increase in credit risk, including relative movement in probability of default since initial recognition.
There is therefore no direct relationship between credit quality and IFRS 9 stage classification.
Credit risk profile by internal PD grade for retail mortgages (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
7
\u2014
\u2014
7
\u2014
\u2014
\u2014
\u2014
7
\u2014
9-11
0.30 to <0.60%
Strong
4,664
\u2014
\u2014
4,664
9
\u2014
\u2014
9
4,655
0.2
12-14
0.60 to <2.15%
Satisfactory
2
1
\u2014
3
\u2014
\u2014
\u2014
\u2014
3
\u2014
15-19
2.15 to <11.35%
Satisfactory
1
134
\u2014
135
\u2014
\u2014
\u2014
\u2014
135
\u2014
20-21
11.35 to <100%
Higher Risk
\u2014
1
\u2014
1
\u2014
\u2014
\u2014
\u2014
1
\u2014
22
100%
Credit Impaired
\u2014
\u2014
175
175
\u2014
\u2014
24
24
151
13.7
Total
4,674
136
175
4,985
9
\u2014
24
33
4,952
0.7
Credit risk profile by internal PD grade for retail credit cards3 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
1,216
37
\u2014
1,253
40
23
\u2014
63
1,190
5.0
4-5
0.05 to <0.15%
Strong
580
\u2014
\u2014
580
1
\u2014
\u2014
1
579
0.2
6-8
0.15 to <0.30%
Strong
1,468
\u2014
\u2014
1,468
3
\u2014
\u2014
3
1,465
0.2
9-11
0.30 to <0.60%
Strong
2,710
1
\u2014
2,711
12
\u2014
\u2014
12
2,699
0.4
12-14
0.60 to <2.15%
Satisfactory
6,091
42
\u2014
6,133
74
4
\u2014
78
6,055
1.3
15-19
2.15 to <11.35%
Satisfactory
6,414
1,099
\u2014
7,513
231
196
\u2014
427
7,086
5.7
20-21
11.35 to <100%
Higher Risk
322
1,357
\u2014
1,679
34
573
\u2014
607
1,072
36.2
22
100%
Credit Impaired
\u2014
\u2014
1,776
1,776
\u2014
\u2014
1,395
1,395
381
78.5
Total
18,801
2,536
1,776
23,113
395
796
1,395
2,586
20,527
11.2
Credit risk profile by internal PD grade for retail other (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
12
\u2014
\u2014
12
\u2014
\u2014
\u2014
\u2014
12
\u2014
6-8
0.15 to <0.30%
Strong
33
\u2014
\u2014
33
\u2014
\u2014
\u2014
\u2014
33
\u2014
9-11
0.30 to <0.60%
Strong
3,564
\u2014
\u2014
3,564
4
\u2014
\u2014
4
3,560
0.1
12-14
0.60 to <2.15%
Satisfactory
109
2
\u2014
111
2
\u2014
\u2014
2
109
1.8
15-19
2.15 to <11.35%
Satisfactory
69
249
\u2014
318
1
2
\u2014
3
315
0.9
20-21
11.35 to <100%
Higher Risk
1
14
\u2014
15
\u2014
3
\u2014
3
12
20.0
22
100%
Credit Impaired
\u2014
\u2014
107
107
\u2014
\u2014
20
20
87
18.7
Total
3,788
265
107
4,160
7
5
20
32
4,128
0.8
Credit risk profile by internal PD grade for corporate loans3 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
43,832
403
\u2014
44,235
4
5
\u2014
9
44,226
\u2014
4-5
0.05 to <0.15%
Strong
23,738
40
\u2014
23,778
6
\u2014
\u2014
6
23,772
\u2014
6-8
0.15 to <0.30%
Strong
13,854
394
\u2014
14,248
12
4
\u2014
16
14,232
0.1
9-11
0.30 to <0.60%
Strong
15,915
551
\u2014
16,466
27
1
\u2014
28
16,438
0.2
12-14
0.60 to <2.15%
Satisfactory
12,160
2,725
\u2014
14,885
47
30
\u2014
77
14,808
0.5
15-19
2.15 to <11.35%
Satisfactory
2,020
2,411
\u2014
4,431
40
70
\u2014
110
4,321
2.5
20-21
11.35 to <100%
Higher Risk
110
1,632
\u2014
1,742
5
125
\u2014
130
1,612
7.5
22
100%
Credit Impaired
\u2014
\u2014
2,360
2,360
\u2014
\u2014
590
590
1,770
25.0
Total
111,629
8,156
2,360
122,145
141
235
590
966
121,179
0.8
Credit risk profile by internal PD grade for loans and advances at amortised cost3 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
45,048
440
\u2014
45,488
44
28
\u2014
72
45,416
0.2
4-5
0.05 to <0.15%
Strong
24,330
40
\u2014
24,370
7
\u2014
\u2014
7
24,363
\u2014
6-8
0.15 to <0.30%
Strong
15,362
394
\u2014
15,756
15
4
\u2014
19
15,737
0.1
9-11
0.30 to <0.60%
Strong
26,853
552
\u2014
27,405
52
1
\u2014
53
27,352
0.2
12-14
0.60 to <2.15%
Satisfactory
18,362
2,770
\u2014
21,132
123
34
\u2014
157
20,975
0.7
15-19
2.15 to <11.35%
Satisfactory
8,504
3,893
\u2014
12,397
272
268
\u2014
540
11,857
4.4
20-21
11.35 to <100%
Higher Risk
433
3,004
\u2014
3,437
39
701
\u2014
740
2,697
21.5
22
100%
Credit Impaired
\u2014
\u2014
4,418
4,418
\u2014
\u2014
2,029
2,029
2,389
45.9
Total
138,892
11,093
4,418
154,403
552
1,036
2,029
3,617
150,786
2.3
Credit risk profile by internal PD grade for retail mortgages (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
4
\u2014
\u2014
4
\u2014
\u2014
\u2014
\u2014
4
\u2014
6-8
0.15 to <0.30%
Strong
2
\u2014
\u2014
2
\u2014
\u2014
\u2014
\u2014
2
\u2014
9-11
0.30 to <0.60%
Strong
4,526
\u2014
\u2014
4,526
8
\u2014
\u2014
8
4,518
0.2
12-14
0.60 to <2.15%
Satisfactory
4
1
\u2014
5
\u2014
\u2014
\u2014
\u2014
5
\u2014
15-19
2.15 to <11.35%
Satisfactory
1
148
\u2014
149
\u2014
1
\u2014
1
148
0.7
20-21
11.35 to <100%
Higher Risk
\u2014
1
\u2014
1
\u2014
\u2014
\u2014
\u2014
1
\u2014
22
100%
Credit Impaired
\u2014
\u2014
310
310
\u2014
\u2014
32
32
278
10.3
Total
4,537
150
310
4,997
8
1
32
41
4,956
0.8
Credit risk profile by internal PD grade for retail credit cards3 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
1
\u2014
\u2014
1
\u2014
\u2014
\u2014
\u2014
1
\u2014
4-5
0.05 to <0.15%
Strong
565
\u2014
\u2014
565
1
\u2014
\u2014
1
564
0.2
6-8
0.15 to <0.30%
Strong
2,562
2
\u2014
2,564
7
\u2014
\u2014
7
2,557
0.3
9-11
0.30 to <0.60%
Strong
4,384
4
\u2014
4,388
22
\u2014
\u2014
22
4,366
0.5
12-14
0.60 to <2.15%
Satisfactory
2,905
117
\u2014
3,022
37
9
\u2014
46
2,976
1.5
15-19
2.15 to <11.35%
Satisfactory
7,018
1,578
\u2014
8,596
242
267
\u2014
509
8,087
5.9
20-21
11.35 to <100%
Higher Risk
194
1,252
\u2014
1,446
25
531
\u2014
556
890
38.5
22
100%
Credit Impaired
\u2014
\u2014
1,724
1,724
\u2014
\u2014
1,416
1,416
308
82.1
Total
17,629
2,953
1,724
22,306
334
807
1,416
2,557
19,749
11.5
Credit risk profile by internal PD grade for retail other (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
6
\u2014
\u2014
6
\u2014
\u2014
\u2014
\u2014
6
\u2014
6-8
0.15 to <0.30%
Strong
17
\u2014
\u2014
17
\u2014
\u2014
\u2014
\u2014
17
\u2014
9-11
0.30 to <0.60%
Strong
3,199
\u2014
\u2014
3,199
5
\u2014
\u2014
5
3,194
0.2
12-14
0.60 to <2.15%
Satisfactory
65
1
\u2014
66
\u2014
\u2014
\u2014
\u2014
66
\u2014
15-19
2.15 to <11.35%
Satisfactory
41
396
\u2014
437
\u2014
\u2014
\u2014
\u2014
437
\u2014
20-21
11.35 to <100%
Higher Risk
1
7
\u2014
8
\u2014
1
\u2014
1
7
12.5
22
100%
Credit Impaired
\u2014
\u2014
216
216
\u2014
\u2014
25
25
191
11.6
Total
3,329
404
216
3,949
5
1
25
31
3,918
0.8
Credit risk profile by internal PD grade for corporate loans3 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
Grade
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
43,318
122
3
43,443
4
\u2014
2
6
43,437
\u2014
4-5
0.05 to <0.15%
Strong
21,947
145
\u2014
22,092
8
\u2014
\u2014
8
22,084
\u2014
6-8
0.15 to <0.30%
Strong
11,392
566
\u2014
11,958
8
2
\u2014
10
11,948
0.1
9-11
0.30 to <0.60%
Strong
15,549
326
\u2014
15,875
18
2
\u2014
20
15,855
0.1
12-14
0.60 to <2.15%
Satisfactory
12,017
2,988
\u2014
15,005
49
20
\u2014
69
14,936
0.5
15-19
2.15 to <11.35%
Satisfactory
2,854
2,243
\u2014
5,097
50
90
\u2014
140
4,957
2.7
20-21
11.35 to <100%
Higher Risk
117
1,757
\u2014
1,874
7
140
\u2014
147
1,727
7.8
22
100%
Credit Impaired
\u2014
\u2014
1,651
1,651
\u2014
\u2014
391
391
1,260
23.7
Total
107,194
8,147
1,654
116,995
144
254
393
791
116,204
0.7
Credit risk profile by internal PD grade for loans and advances at amortised cost3 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
Grade
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
43,319
122
3
43,444
4
\u2014
2
6
43,438
\u2014
4-5
0.05 to <0.15%
Strong
22,522
145
\u2014
22,667
9
\u2014
\u2014
9
22,658
\u2014
6-8
0.15 to <0.30%
Strong
13,973
568
\u2014
14,541
15
2
\u2014
17
14,524
0.1
9-11
0.30 to <0.60%
Strong
27,658
330
\u2014
27,988
53
2
\u2014
55
27,933
0.2
12-14
0.60 to <2.15%
Satisfactory
14,991
3,107
\u2014
18,098
86
29
\u2014
115
17,983
0.6
15-19
2.15 to <11.35%
Satisfactory
9,914
4,365
\u2014
14,279
292
358
\u2014
650
13,629
4.6
20-21
11.35 to <100%
Higher Risk
312
3,017
\u2014
3,329
32
672
\u2014
704
2,625
21.1
22
100%
Credit Impaired
\u2014
\u2014
3,901
3,901
\u2014
\u2014
1,864
1,864
2,037
47.8
Total
132,689
11,654
3,904
148,247
491
1,063
1,866
3,420
144,827
2.3
Credit risk profile by internal PD grade for contingent liabilities1 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
Grade
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
10,096
\u2014
\u2014
10,096
1
\u2014
\u2014
1
10,095
\u2014
4-5
0.05 to <0.15%
Strong
3,920
178
\u2014
4,098
2
\u2014
\u2014
2
4,096
\u2014
6-8
0.15 to <0.30%
Strong
3,645
5
\u2014
3,650
2
\u2014
\u2014
2
3,648
0.1
9-11
0.30 to <0.60%
Strong
2,025
92
\u2014
2,117
3
\u2014
\u2014
3
2,114
0.1
12-14
0.60 to <2.15%
Satisfactory
2,773
230
\u2014
3,003
12
3
\u2014
15
2,988
0.5
15-19
2.15 to <11.35%
Satisfactory
1,163
690
\u2014
1,853
15
16
\u2014
31
1,822
1.7
20-21
11.35 to <100%
Higher Risk
85
710
\u2014
795
1
83
\u2014
84
711
10.6
22
100%
Credit Impaired
\u2014
\u2014
116
116
\u2014
\u2014
23
23
93
19.8
Total
23,707
1,905
116
25,728
36
102
23
161
25,567
0.6
Credit risk profile by internal PD grade for contingent liabilities1 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
9,351
310
\u2014
9,661
1
1
\u2014
2
9,659
\u2014
4-5
0.05 to <0.15%
Strong
4,934
\u2014
\u2014
4,934
2
\u2014
\u2014
2
4,932
\u2014
6-8
0.15 to <0.30%
Strong
2,717
391
\u2014
3,108
2
\u2014
\u2014
2
3,106
0.1
9-11
0.30 to <0.60%
Strong
2,177
119
\u2014
2,296
4
\u2014
\u2014
4
2,292
0.2
12-14
0.60 to <2.15%
Satisfactory
2,309
563
\u2014
2,872
12
7
\u2014
19
2,853
0.7
15-19
2.15 to <11.35%
Satisfactory
730
937
\u2014
1,667
21
36
\u2014
57
1,610
3.4
20-21
11.35 to <100%
Higher Risk
29
515
\u2014
544
\u2014
82
\u2014
82
462
15.1
22
100%
Credit Impaired
\u2014
\u2014
495
495
\u2014
\u2014
16
16
479
3.2
Total
22,247
2,835
495
25,577
42
126
16
184
25,393
0.7
Credit risk profile by internal PD grade for loan commitments1,2 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to < 0.05%
Strong
90,723
204
\u2014
90,927
4
\u2014
\u2014
4
90,923
\u2014
4-5
0.05 to < 0.15%
Strong
75,414
776
\u2014
76,190
6
\u2014
\u2014
6
76,184
\u2014
6-8
0.15 to < 0.30%
Strong
50,189
656
\u2014
50,845
6
\u2014
\u2014
6
50,839
\u2014
9-11
0.30 to < 0.60%
Strong
49,560
494
\u2014
50,054
7
\u2014
\u2014
7
50,047
\u2014
12-14
0.60 to < 2.15%
Satisfactory
41,798
2,402
\u2014
44,200
34
27
\u2014
61
44,139
0.1
15-19
2.15 to < 11.35%
Satisfactory
12,874
4,418
\u2014
17,292
35
40
\u2014
75
17,217
0.4
20-21
11.35 to < 100%
Higher Risk
560
3,463
\u2014
4,023
3
65
\u2014
68
3,955
1.7
22
100%
Credit Impaired
\u2014
\u2014
565
565
\u2014
\u2014
10
10
555
1.8
Total
321,118
12,413
565
334,096
95
132
10
237
333,859
0.1
Credit risk profile by internal PD grade for loan commitments1,2 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to < 0.05%
Strong
86,137
320
\u2014
86,457
3
\u2014
\u2014
3
86,454
\u2014
4-5
0.05 to < 0.15%
Strong
68,407
93
\u2014
68,500
8
\u2014
\u2014
8
68,492
\u2014
6-8
0.15 to < 0.30%
Strong
56,893
951
\u2014
57,844
12
1
\u2014
13
57,831
\u2014
9-11
0.30 to < 0.60%
Strong
54,576
736
\u2014
55,312
19
1
\u2014
20
55,292
\u2014
12-14
0.60 to < 2.15%
Satisfactory
45,417
2,710
\u2014
48,127
31
11
\u2014
42
48,085
0.1
15-19
2.15 to < 11.35%
Satisfactory
11,878
5,779
\u2014
17,657
39
45
\u2014
84
17,573
0.5
20-21
11.35 to < 100%
Higher Risk
643
3,406
\u2014
4,049
1
56
\u2014
57
3,992
1.4
22
100%
Credit Impaired
\u2014
\u2014
481
481
\u2014
\u2014
9
9
472
1.9
Total
323,951
13,995
481
338,427
113
114
9
236
338,191
0.1
Notes
1Excludes loan commitments and financial guarantees carried at fair value of \u00a322.2 bn (2024: \u00a3 16.3bn) for Barclays Bank Group.
2Reported loan commitments also include exposures relating to financial assets classified as assets held for sale.
3Exposures reported within Retail credit card and Corporate loans does not include a co-branded card portfolio which is classified as assets held
for sale.
Loans and advances by product
Loans and advances to customers classified as assets held for sale (audited)
Stage 1
Stage 2
Stage 3
Total
Gross
ECL
Coverage
Gross
ECL
Coverage
Gross
ECL
Coverage
Gross
ECL
Coverage
As at 31 December 2025
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
%
Retail credit cards - US
5,468
65
1.2
466
124
26.6
54
44
81.5
5,988
233
3.9
Retail credit cards -
Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail other - Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans - US
43
1
2.3
6
2
33.3
\u2014
\u2014
\u2014
49
3
6.1
Total
5,511
66
1.2
472
126
26.7
54
44
81.5
6,037
236
3.9
As at 31 December 2024
Retail credit cards - US
5,495
64
1.2
689
161
23.4
57
46
80.7
6,241
271
4.3
Retail credit cards -
Germany
1,908
18
0.9
307
29
9.4
93
69
74.2
2,308
116
5.0
Retail other - Germany
1,134
16
1.4
220
33
15.0
71
48
67.6
1,425
97
6.8
Corporate loans - US
49
1
2.0
9
3
33.3
1
1
100.0
59
5
8.5
Total
8,586
99
1.2
1,225
226
18.4
222
164
73.9
10,033
489
4.9
Management adjustments to models for impairment (audited)
Management adjustments to models for impairment allowance presented by product (audited)
Barclays Bank Group
Impairment
allowance pre
management
adjustments
Economic
uncertainty
adjustments1
(a)
Other
adjustments
(b)
Management\u00a0
adjustments
(a+b)
Total
impairment
allowance
Proportion of
Management
adjustments to
total
impairment
allowance
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail credit cards - US
232
5
\u2014
5
237
2.1
Retail credit cards - Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail other - Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans - US
3
\u2014
\u2014
\u2014
3
\u2014
Total
235
5
\u2014
5
240
2.1
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail credit cards - US
277
\u2014
\u2014
\u2014
277
\u2014
Retail credit cards - Germany
101
\u2014
16
16
117
13.7
Retail other - Germany
80
\u2014
17
17
97
17.5
Corporate loans - US
5
\u2014
\u2014
\u2014
5
\u2014
Total
463
\u2014
33
33
496
6.7
Note
1 Reflects a Stage 2 adjustment for elevated US macroeconomic uncertainty; with impacts yet to materialise in consumer behaviour.
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - US (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
165
\u2014
\u2014
165
\u2014
\u2014
\u2014
\u2014
165
\u2014
6-8
0.15 to <0.30%
Strong
953
\u2014
\u2014
953
3
\u2014
\u2014
3
950
0.3
9-11
0.30 to <0.60%
Strong
1,351
1
\u2014
1,352
6
\u2014
\u2014
6
1,346
0.4
12-14
0.60 to <2.15%
Satisfactory
1,795
5
\u2014
1,800
18
\u2014
\u2014
18
1,782
1.0
15-19
2.15 to <11.35%
Satisfactory
1,149
226
\u2014
1,375
34
35
\u2014
69
1,306
5.0
20-21
11.35 to <100%
Higher Risk
55
234
\u2014
289
4
89
\u2014
93
196
32.2
22
100%
Credit Impaired
\u2014
\u2014
54
54
\u2014
\u2014
44
44
10
81.5
Total
5,468
466
54
5,988
65
124
44
233
5,755
3.9
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - Germany (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
15-19
2.15 to <11.35%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Credit risk profile by internal PD grade classified as assets held for sale for Retail other - Germany (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
15-19
2.15 to <11.35%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Credit risk profile by internal PD grade classified as assets held for sale for Corporate loans - US (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
2
\u2014
\u2014
2
\u2014
\u2014
\u2014
\u2014
2
\u2014
15-19
2.15 to <11.35%
Satisfactory
41
\u2014
\u2014
41
1
\u2014
\u2014
1
40
2.4
20-21
11.35 to <100%
Higher Risk
\u2014
6
\u2014
6
\u2014
2
\u2014
2
4
33.3
22
100%
Credit Impaired
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
43
6
\u2014
49
1
2
\u2014
3
46
6.1
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - US (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
5,495
\u2014
\u2014
5,495
64
\u2014
\u2014
64
5,431
1.2
15-19
2.15 to <11.35%
Satisfactory
\u2014
689
\u2014
689
\u2014
161
\u2014
161
528
23.4
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
57
57
\u2014
\u2014
46
46
11
80.7
Total
5,495
689
57
6,241
64
161
46
271
5,970
4.3
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - Germany (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
62
\u2014
\u2014
62
\u2014
\u2014
\u2014
\u2014
62
\u2014
4-5
0.05 to <0.15%
Strong
289
\u2014
\u2014
289
1
\u2014
\u2014
1
288
0.3
6-8
0.15 to <0.30%
Strong
152
\u2014
\u2014
152
1
\u2014
\u2014
1
151
0.7
9-11
0.30 to <0.60%
Strong
250
\u2014
\u2014
250
1
\u2014
\u2014
1
249
0.4
12-14
0.60 to <2.15%
Satisfactory
928
5
\u2014
933
9
\u2014
\u2014
9
924
1.0
15-19
2.15 to <11.35%
Satisfactory
227
229
\u2014
456
6
15
\u2014
21
435
4.6
20-21
11.35 to <100%
Higher Risk
\u2014
73
\u2014
73
\u2014
14
\u2014
14
59
19.2
22
100%
Credit Impaired
\u2014
\u2014
93
93
\u2014
\u2014
69
69
24
74.2
Total
1,908
307
93
2,308
18
29
69
116
2,192
5.0
Credit risk profile by internal PD grade classified as assets held for sale for Retail other - Germany (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
1
\u2014
\u2014
1
\u2014
\u2014
\u2014
\u2014
1
\u2014
4-5
0.05 to <0.15%
Strong
25
\u2014
\u2014
25
\u2014
\u2014
\u2014
\u2014
25
\u2014
6-8
0.15 to <0.30%
Strong
110
\u2014
\u2014
110
\u2014
\u2014
\u2014
\u2014
110
\u2014
9-11
0.30 to <0.60%
Strong
294
\u2014
\u2014
294
1
\u2014
\u2014
1
293
0.3
12-14
0.60 to <2.15%
Satisfactory
534
17
\u2014
551
6
4
\u2014
10
541
1.8
15-19
2.15 to <11.35%
Satisfactory
170
182
\u2014
352
9
22
\u2014
31
321
8.8
20-21
11.35 to <100%
Higher Risk
\u2014
21
\u2014
21
\u2014
7
\u2014
7
14
33.3
22
100%
Credit Impaired
\u2014
\u2014
71
71
\u2014
\u2014
48
48
23
67.6
Total
1,134
220
71
1,425
16
33
48
97
1,328
6.8
Credit risk profile by internal PD grade classified as assets held for sale for Corporate loans - US (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
49
\u2014
\u2014
49
1
\u2014
\u2014
1
48
2.0
15-19
2.15 to <11.35%
Satisfactory
\u2014
9
\u2014
9
\u2014
3
\u2014
3
6
33.3
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
1
1
\u2014
\u2014
1
1
\u2014
100.0
Total
49
9
1
59
1
3
1
5
54
8.5
The daily average, high and low values of management VaR
Management VaR (95%, one day) (audited)
2025
2024
For the year ended 31 December
2025
Average
High
Low
Average
High
Low
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Credit risk
15
21
11
21
27
17
Interest rate risk
15
25
5
15
25
6
Equity risk
7
14
4
6
12
2
Basis risk
6
9
4
5
8
4
Spread risk
5
7
3
5
7
3
Foreign exchange risk
4
7
2
4
9
2
Commodity risk
\u2014
1
\u2014
\u2014
1
\u2014
Inflation risk
5
8
3
4
5
2
Diversification effect 1
(39)
n/a
n/a
(34)
n/a
n/a
Total management VaR
18
31
9
26
36
15
Note
1Diversification effects recognise that forecast losses from different assets or businesses are unlikely to occur concurrently, hence the expected
aggregate loss is lower than the sum of the expected losses from each area. Historical correlations between losses are taken into account in
making these assessments. The high and low VaR figures reported for each category did not necessarily occur on the same day as the high and
low VaR reported as a whole. Consequently, a diversification effect balance for the high and low VaR figures would not be meaningful and is
therefore omitted from the above table.
The table below provides detail on the contractual maturity of all financial instruments and other assets and liabilities.
Derivatives (other than those designated in a hedging relationship) and trading portfolio assets and liabilities are included in
the \u2018not more than one month\u2019 column at their fair value. Liquidity risk on these items is not managed on the basis of
contractual maturity since these items are not held for settlement according to such maturity and will frequently be settled
before contractual maturity at fair value. Derivatives designated in a hedging relationship are included according to their
contractual maturity.
Open-dated financial assets and liabilities are included within 'not more than one month' due to the availability of
withdrawals or redemptions at any time, without notice.
Contractual maturity of financial assets and liabilities (audited)
Barclays Bank Group
Not more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six
months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five
years
Total
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Assets
Cash and balances at central banks
208,544
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
208,544
Cash collateral and settlement balances
81,419
43,100
\u2014
\u2014
\u2014
\u2014
\u2014
124,519
Debt Securities at amortised cost
390
5,136
1,776
2,845
15,124
13,303
16,579
55,153
Loans and advances at amortised cost to
banks and customers
21,922
5,264
6,166
17,893
47,981
26,901
24,659
150,786
Reverse repurchase agreements and other
similar secured lending
10,866
338
520
406
1,971
2,816
745
17,662
Trading portfolio assets
189,743
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
189,743
Financial assets at fair value through the
income statement
145,326
13,635
4,503
4,130
10,756
3,639
3,013
185,002
Derivative financial instruments
250,286
144
201
227
959
302
73
252,192
Financial assets at fair value through other
comprehensive income
1,357
1,303
133
277
3,527
11,748
24,473
42,818
Assets included in disposal groups classified
as held for sale
\u2014
\u2014
5,932
\u2014
\u2014
\u2014
\u2014
5,932
Other financial assets
379
41
198
1
5
\u2014
\u2014
624
Total financial assets
910,232
68,961
19,429
25,779
80,323
58,709
69,542
1,232,975
Other assets
12,498
Total assets
1,245,473
Liabilities
Deposits at amortised cost from bank and
customers
255,232
35,395
31,417
18,639
3,204
543
321
344,751
Cash collateral and settlement balances
84,062
32,749
\u2014
\u2014
\u2014
\u2014
\u2014
116,811
Repurchase agreements and other similar
secured borrowing
8,790
4,507
321
626
4,407
\u2014
\u2014
18,651
Debt securities in issue
2,387
10,732
22,206
13,052
2,063
2,263
4,526
57,229
Subordinated liabilities
1,356
\u2014
1,015
400
12,266
8,265
21,937
45,239
Trading portfolio liabilities
56,829
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
56,829
Financial liabilities designated at fair value
161,887
30,221
16,489
14,172
31,398
19,691
19,669
293,527
Derivative financial instruments
240,179
22
53
13
206
83
201
240,757
Liabilities included in disposal groups
classified as held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Other financial liabilities
4,283
3
9
19
76
55
453
4,898
Total financial liabilities
815,005
113,629
71,510
46,921
53,620
30,900
47,107
1,178,692
Other liabilities
4,468
Total liabilities
1,183,160
Contractual maturity of financial assets and liabilities (audited)
Barclays Bank Group
Not more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six
months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five
years
Total
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Assets
Cash and balances at central banks
180,365
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
180,365
Cash collateral and settlement balances
76,805
37,182
\u2014
\u2014
\u2014
\u2014
\u2014
113,987
Debt securities at amortised cost
233
352
1,710
1,194
15,393
11,921
19,424
50,227
Loans and advances at amortised cost to
banks and customers
22,523
5,207
7,067
16,544
45,701
22,641
25,144
144,827
Reverse repurchase agreements and other
similar secured lending
299
37
292
110
1,675
980
\u2014
3,393
Trading portfolio assets
166,244
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
166,244
Financial assets at fair value through the
income statement
152,022
11,628
4,467
4,471
10,082
6,099
3,076
191,845
Derivative financial instruments
291,580
19
333
\u2014
268
23
133
292,356
Financial assets at fair value through other
comprehensive income
1,421
1,002
110
233
5,747
12,147
30,350
51,010
Assets included in disposal groups classified
as held for sale
\u2014
3,710
\u2014
\u2014
6,144
\u2014
\u2014
9,854
Other financial assets
499
22
126
17
1
\u2014
\u2014
665
Total financial assets
891,991
59,159
14,105
22,569
85,011
53,811
78,127
1,204,773
Other assets
13,751
Total assets
1,218,524
Liabilities
Deposits at amortised cost from banks and
customers
240,546
33,576
27,124
12,752
3,481
1,296
601
319,376
Cash collateral and settlement balances
75,019
29,608
\u2014
\u2014
\u2014
\u2014
\u2014
104,627
Repurchase agreements and other similar
secured borrowing
18,522
1,823
84
3,931
3,702
1,335
\u2014
29,397
Debt securities in issue
2,912
15,264
5,859
3,469
713
2,164
5,422
35,803
Subordinated liabilities
\u2014
818
75
80
11,431
6,444
23,027
41,875
Trading portfolio liabilities
56,182
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
56,182
Financial liabilities designated at fair value
156,917
23,502
16,742
15,331
28,332
19,087
19,866
279,777
Derivative financial instruments
278,657
27
18
\u2014
185
255
189
279,331
Liabilities included in disposal groups
classified as held for sale
\u2014
3,726
\u2014
\u2014
\u2014
\u2014
\u2014
3,726
Other financial liabilities
4,333
4
9
19
71
40
392
4,868
Total financial liabilities
833,088
108,348
49,911
35,582
47,915
30,621
49,497
1,154,962
Other liabilities
4,342
Total liabilities
1,159,304
Contractual maturity of financial liabilities on an undiscounted basis
The following table presents the cash flows payable by the Barclays Bank Group under financial liabilities by remaining
contractual maturities at the balance sheet date. The amounts disclosed in the table are the contractual undiscounted cash
flows of all financial liabilities (i.e. nominal values).
The balances in the below table do not agree directly to the balances in the consolidated balance sheet as the table
incorporates all cash flows, on an undiscounted basis, related to both principal as well as those associated with all future
coupon payments.
Derivative financial instruments held for trading and trading portfolio liabilities are included in the 'not more than one month'
column at their fair value. Open-dated financial liabilities are also included within 'not more than one month'.
Contractual maturity of financial liabilities - undiscounted (audited)
Not\u00a0 more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six
months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five
years
Total
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Deposits at amortised cost from banks and
customers
255,034
35,765
31,757
19,049
3,422
614
579
346,220
Cash collateral and settlement balances
84,076
32,910
\u2014
\u2014
\u2014
\u2014
295
117,281
Repurchase agreements and other similar
secured borrowing
8,801
4,520
322
637
4,562
\u2014
\u2014
18,842
Debt securities in issue
2,393
10,789
22,489
13,366
2,243
2,573
7,618
61,471
Subordinated liabilities
1,358
\u2014
1,025
418
12,727
9,210
33,626
58,364
Trading portfolio liabilities
56,829
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
56,829
Financial liabilities designated at fair value
161,975
30,387
16,677
14,449
32,838
21,670
32,683
310,679
Derivative financial instruments
240,179
23
54
13
223
94
398
240,984
Liabilities included in disposal groups
classified as held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Other financial liabilities
4,284
8
16
35
134
108
3,513
8,098
Total financial liabilities
814,929
114,402
72,340
47,967
56,149
34,269
78,712
1,218,768
As at 31 December 2024
Deposits at amortised cost from banks and
customers
240,695
33,769
27,410
13,059
3,687
1,531
762
320,913
Cash collateral and settlement balances
75,021
29,780
\u2014
\u2014
\u2014
\u2014
\u2014
104,801
Repurchase agreements and other similar
secured borrowing
18,542
1,832
84
4,065
3,892
1,508
\u2014
29,923
Debt securities in issue
2,920
15,360
5,930
3,579
745
2,558
8,714
39,806
Subordinated liabilities
\u2014
824
75
80
11,955
7,036
34,922
54,892
Trading portfolio liabilities
56,182
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
56,182
Financial liabilities designated at fair value
157,090
23,676
16,971
15,713
30,014
21,471
34,087
299,022
Derivative financial instruments
278,662
27
18
\u2014
197
298
402
279,604
Liabilities included in disposal groups
classified as held for sale
\u2014
3,726
\u2014
\u2014
\u2014
\u2014
\u2014
3,726
Other financial liabilities
4,335
10
18
35
127
86
3,680
8,291
Total financial liabilities
833,447
109,004
50,506
36,531
50,617
34,488
82,567
1,197,160
Maturity of off-balance sheet commitments given
The table below presents the maturity split of the Barclays Bank Group\u2019s off-balance sheet commitments given at the
balance sheet date. The amounts disclosed in the table are the undiscounted cash flows (i.e. nominal values) on the basis of
earliest opportunity at which they are available.
Maturity analysis of off-balance sheet commitments given (audited)
Not more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five\u00a0
years
Total
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Contingent liabilities and financial
guarantees
26,631
\u2014
1
1
\u2014
\u2014
\u2014
26,633
Documentary credits and other short-term
trade related transactions
1,103
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1,103
Standby facilities, credit lines and other
commitments1
354,202
\u2014
\u2014
\u2014
63
17
3
354,285
Total off-balance sheet commitments
given
381,936
\u2014
1
1
63
17
3
382,021
As at 31 December 2024
Contingent liabilities and financial
guarantees
26,541
22
1
1
\u2014
\u2014
\u2014
26,565
Documentary credits and other short-term
trade related transactions
1,432
1
\u2014
\u2014
\u2014
\u2014
\u2014
1,433
Standby facilities, credit lines and other
commitments1
352,276
\u2014
\u2014
\u2014
68
\u2014
\u2014
352,344
Total off-balance sheet commitments
given
380,249
23
1
1
68
\u2014
\u2014
380,342
Note
1. Includes exposures relating to financial assets classified as assets held for sale.
Capital resources
2025
2024
As at 31 December
\u00a3m
\u00a3m
CET1 capital
28,177
26,995
T1 capital
35,848
33,787
Total regulatory capital
42,129
40,444
Total risk weighted assets (RWAs) (unaudited)
222,247
223,648
Foreign exchange risk (audited)
The Barclays Bank Group is exposed to two sources of foreign exchange risk.
Transactional foreign currency exposure
Transactional foreign currency exposures represent exposures on banking assets and liabilities, denominated in currencies
other than the functional currency of the transacting entity.
The Barclays Bank Group\u2019s risk management policies are designed to prevent the holding of significant open positions in
foreign currencies outside the trading portfolio which is monitored through VaR.
Banking book transactional foreign exchange risk is monitored on a daily basis by the market risk function and minimised by
the businesses.
Translational foreign exchange exposure
The Barclays Bank Group's investments in overseas subsidiaries and branches create capital resources denominated in
foreign currencies, principally USD and EUR. Changes in the GBP value of the net investments due to foreign currency
movements are captured in the currency translation reserve, resulting in a movement in shareholders\u2019 equity.
Functional currency of operations (audited)
Foreign
currency net
investments
Borrowings
which hedge
the net
investments
Derivatives
which hedge
the net
investments
Structural
currency
exposures
pre- economic
hedges
Other Equity
instruments
Remaining
structural
currency
exposures
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
USD
25,531
(2,914)
(2,141)
20,476
(5,450)
15,026
EUR
10,195
(3,018)
\u2014
7,177
(1,310)
5,867
INR
1,486
\u2014
(1,260)
226
\u2014
226
JPY
544
(177)
\u2014
367
\u2014
367
Other
2,007
\u2014
(918)
1,089
(1,127)
(38)
Total
39,763
(6,109)
(4,319)
29,335
(7,887)
21,448
As at 31 December 2024
USD
27,742
(4,644)
(2,229)
20,868
(5,846)
15,023
EUR
9,559
(2,729)
\u2014
6,830
(265)
6,565
INR
1,400
\u2014
(992)
408
\u2014
408
JPY
628
(215)
\u2014
413
\u2014
413
Other
2,037
\u2014
(792)
1,245
(849)
396
Total
41,366
(7,588)
(4,013)
29,764
(6,960)
22,805
Other equity instruments relate to exposures arising on foreign currency denominated preference share and AT1
instruments. These instruments are accounted for at historical cost under IFRS and do not qualify as hedges for accounting
purposes. The gain or loss arising from changes in the GBP value of these instruments is recognised on redemption in
retained earnings.
During 2025, total structural currency exposure net of hedging instruments decreased by \u00a31.4b n to \u00a321.4b n (2024:
\u00a322.8bn). Foreign currency net\u00a0investments decreased by \u00a31.6b n to \u00a339.8bn (2024 : \u00a341.4bn) driven predominantly by a
\u00a32.2bn decrease in US dollars offset by \u00a30.6bn increase in Euro. The hedges associated with these foreign currency
investments decreased by \u00a31.2bn to \u00a310.4bn (2024: \u00a311.6b n).
Net interest income sensitivity
The table below shows a sensitivity analysis on pre-tax net interest income for non-traded financial assets and liabilities,
including the effect of any hedging. This analysis is not a forward guidance on NII and is intended as a quantification of risk
exposure utilising the Net Interest Income (NII) metric as described on page 179 of the Barclays PLC Pillar 3 Report 2025
(unaudited), which includes documentation of the main model assumptions.
Net Interest Income sensitivity (AEaR) by currency (audited)
2025
2024
+25 basis
points
-25 basis
points
+25 basis
points
-25 basis
points
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
GBP
4
(6)
27
(28)
USD
(41)
41
(29)
29
EUR
(5)
4
(6)
6
Other currencies
9
(8)
(3)
3
Total
(33)
31
(11)
10
Analysis of equity sensitivity
The analysis of equity sensitivity table measures the overall impact of a +/- 25bps movement in interest rates on retained
earnings, FVOCI, cash flow hedge reserves and pensions. For non-NII items a DV01 metric is used, which is an indicator of
the shift in value for a 1bp movement in the yield curve.
Analysis of equity sensitivity (audited)
31 December 2025
31 December 2024
+25 basis
points
-25 basis
points
+25 basis
points
-25 basis
points
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Net interest income
(33)
31
(11)
10
Taxation effects on the above
8
(8)
2
(2)
Effect on profit for the year
(25)
23
(9)
8
As percentage of net profit after tax
(0.5%)
0.5%
(0.2%)
0.2%
Effect on profit for the year (per above)
(25)
23
(9)
8
Fair value through other comprehensive income reserve
(186)
193
(193)
200
Cash flow hedge reserve
(823)
823
(588)
588
Taxation effects on the above
283
(284)
219
(221)
Effect on equity
(751)
755
(571)
575
As percentage of equity
(1.2%)
1.2%
(1.0%)
1.0%
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-4": { "value": "
Credit risk management (audited)
The risk of loss to the Barclays Bank Group from the failure of clients, customers or counterparties, including sovereigns, to
fully honour their obligations to the Barclays Bank Group, including the whole and timely payment of principal, interest,
collateral and other receivables.
Overview
The credit risk that the Barclays Bank Group faces arises from wholesale and retail loans and advances together with the
counterparty credit risk arising from derivative contracts with clients' trading activities, including: debt securities, settlement
balances with market counterparties, FVOCI (fair value through other comprehensive income) assets and reverse repurchase
loans.
Credit risk management objectives are to:
\u25aa maintain a framework of controls to oversee credit risk
\u25aa identify, assess and measure credit risk clearly and accurately across the Barclays Bank Group and within each separate
business, from the level of individual facilities up to the total portfolio
\u25aa control and plan credit risk taking in line with external stakeholder expectations, including risk return objectives, and
avoiding undesirable concentrations
\u25aa monitor credit risk and adherence to agreed controls.
Organisation, roles and responsibilities
The first line of defence has primary responsibility for managing credit risk within the risk appetite and limits set by the Risk
function, supported by a defined set of policies, standards and controls. In the Barclays Bank Group, business risk
committees (attended by the first line) monitor and review the credit risk profile of each business unit where the most
material issues are escalated to the Retail Credit Risk Management Committee, Wholesale Credit Risk Management
Committee and the Barclays Group Risk Committee.
Wholesale and retail portfolios are managed separately to reflect the differing nature of the assets; wholesale balances tend
to be larger and are managed on an individual basis, while retail balances are greater in number but lesser in value and are,
therefore, managed in aggregated segments.
The responsibilities of the credit risk management teams in the businesses, the sanctioning team and other shared services
include: sanctioning new credit agreements (principally wholesale); setting strategies for approval of transactions
(principally retail); setting risk appetite; monitoring risk against limits and other parameters; setting recession readiness
frameworks to protect portfolios in the event of economic stress, maintaining robust processes, data gathering, quality,
storage and reporting methods for effective credit risk management; performing effective turnaround and workout
scenarios for wholesale portfolios via dedicated restructuring and recoveries teams; maintaining robust collections and
recovery processes/units for retail portfolios. The credit risk management teams in the Barclays Bank Group are accountable
to the Barclays Bank Group CRO, who reports to the Barclays Group CRO.
For wholesale portfolios, credit risk managers are organised in sanctioning teams by geography, industry and/or product. In
wholesale portfolios, credit risk approval is undertaken by experienced credit risk professionals operating within a clearly
defined delegated authority framework, with only the most senior credit officers assigned the higher levels of delegated
authority. The largest credit exposures, which are outside the Risk Sanctioning Unit or Risk Distribution Committee authority,
require the support of the Senior Credit Officers. For exposures in excess of the Senior Credit Officers\u2019 authority, approval by
the Barclays Group Senior Credit Officer/Barclays PLC Board Risk Committee is also required. The Barclays Group Credit Risk
Committee, attended by the Senior Credit Officers, provides a formal mechanism for the Barclays Group Senior Credit Officer
to exercise the highest level of credit authority over the most material Barclays Group single name exposures.
Credit risk mitigation
The Barclays Bank Group employs a range of techniques and strategies to actively mitigate credit risks. These can broadly be
divided into three types:
\u25aa netting and set-off
\u25aa collateral
\u25aa risk transfer.
Netting and set-off
Credit risk exposures can be reduced by applying netting and set-off. For derivative transactions, the Barclays Bank Group\u2019s
normal practice is to enter into standard master agreements with counterparties (e.g. ISDAs). These master agreements
typically allow for netting of credit risk exposure to a counterparty resulting from derivative transactions against the
obligations to the counterparty in the event of default, and so produce a lower net credit exposure. These agreements may
also reduce settlement exposure (e.g. for foreign exchange transactions) by allowing payments on the same day in the same
currency to be set-off against one another.
Collateral
The Barclays Bank Group has the ability to call on collateral in the event of default of the counterparty, comprising:
\u25aa home loans: a fixed charge over residential property in the form of houses, flats and other dwellings.
\u25aa wholesale lending: a fixed charge over commercial property and other physical assets, in various forms.
\u25aa other retail lending: includes charges over other physical assets; second lien charges over residential property and finance
lease receivables.
\u25aa derivatives: the Barclays Bank Group also often seeks to enter into a margin agreement (e.g. Credit Support Annex) with
counterparties with which the Barclays Bank Group has master netting agreements in place. These annexes to master
agreements provide a mechanism for further reducing credit risk, whereby collateral (margin) is posted on a regular basis
(typically daily) to collateralise the mark to market exposure of a derivative portfolio measured on a net basis.
\u25aa reverse repurchase agreements: collateral typically comprises highly liquid securities which have been legally transferred
to the Barclays Bank Group subject to an agreement to return them for a fixed price.
\u25aa financial guarantees and similar off-balance sheet commitments: cash collateral may be held against these
arrangements.
Risk transfer
A range of instruments including guarantees, credit insurance, credit derivatives and securitisation can be used to transfer
credit risk from one counterparty to another. These mitigate credit risk in three main ways:
\u25aa if the risk is transferred to a counterparty which is more creditworthy than the original counterparty, then overall credit risk
is reduced.
\u25aa where recourse to the first counterparty remains, both counterparties must default before a loss materialises. This is less
likely than the default of either counterparty individually, so credit risk is reduced.
\u25aa first loss exposures across pools of credit risk can be hedged via synthetic securitisation structures, typically via CLN
issuance. As these are fully funded upfront, they provide for a direct reduction in credit risk exposure on referenced pools.
In addition, referenced pools of assets can be securitised with specific tranches of risk sold to investors to provide direct
reduction in credit risk exposures.
Maximum exposure and effect of netting, collateral and risk transfer (audited)
Maximum
exposure
Netting
and set-
off
Cash
collateral
Non-cash
collateral
Risk
transfer
Exposure
net of risk
mitigation
Barclays Bank Group
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
On-balance sheet:
Cash and balances at central banks
208,544
\u2014
\u2014
\u2014
\u2014
208,544
Cash collateral and settlement balances
124,519
\u2014
\u2014
\u2014
\u2014
124,519
Loans and advances at amortised cost:
Retail mortgages
4,952
\u2014
(11)
(4,921)
(6)
14
Retail credit cards
20,527
\u2014
\u2014
\u2014
\u2014
20,527
Retail other
4,128
\u2014
(1,064)
(2,617)
(43)
404
Corporate loans
121,179
(2,977)
(1,424)
(64,584)
(4,844)
47,350
Total loans and advances at amortised cost
150,786
(2,977)
(2,499)
(72,122)
(4,893)
68,295
Of which credit-impaired (Stage 3):
Retail mortgages
151
\u2014
\u2014
(151)
\u2014
\u2014
Retail credit cards
381
\u2014
\u2014
\u2014
\u2014
381
Retail other
87
\u2014
\u2014
(84)
\u2014
3
Corporate loans
1,770
\u2014
(22)
(1,003)
(247)
498
Total credit-impaired loans and advances at amortised cost
2,389
\u2014
(22)
(1,238)
(247)
882
Debt securities at amortised cost
55,153
\u2014
\u2014
(136)
\u2014
55,017
Reverse repurchase agreements and other similar secured lending
17,662
\u2014
\u2014
(17,662)
\u2014
\u2014
Trading portfolio assets:
Debt securities
94,040
\u2014
\u2014
(639)
\u2014
93,401
Traded loans
12,249
\u2014
\u2014
(4,907)
\u2014
7,342
Total trading portfolio assets
106,289
\u2014
\u2014
(5,546)
\u2014
100,743
Financial assets at fair value through the income statement:
Loans and advances
46,885
\u2014
(17)
(42,290)
\u2014
4,578
Debt securities
3,121
\u2014
\u2014
(359)
\u2014
2,762
Reverse repurchase agreements
132,600
\u2014
(1,433)
(130,807)
\u2014
360
Other financial assets
60
\u2014
\u2014
\u2014
\u2014
60
Total financial assets at fair value through the income statement
182,666
\u2014
(1,450)
(173,456)
\u2014
7,760
Derivative financial instruments
252,192
(194,772)
(29,930)
(12,646)
(4,121)
10,723
Financial assets at fair value through other comprehensive income
42,818
\u2014
\u2014
(2,390)
\u2014
40,428
Other assets
624
\u2014
(1)
\u2014
\u2014
623
Assets held for sale
5,801
\u2014
\u2014
\u2014
\u2014
5,801
Total on-balance sheet
1,147,054
(197,749)
(33,880)
(283,958)
(9,014)
622,453
Off-balance sheet:
Contingent liabilities
26,633
\u2014
(1,768)
(768)
(194)
23,903
Loan commitments
355,388
\u2014
(491)
(49,265)
(2,376)
303,256
Total off-balance sheet
382,021
\u2014
(2,259)
(50,033)
(2,570)
327,159
Total
1,529,075
(197,749)
(36,139)
(333,991)
(11,584)
949,612
The above table excludes any credit risk mitigation that does not impact the expected credit loss for financial assets
measured at amortised cost. Off-balance sheet exposures are shown gross of provisions of \u00a3398m (2024: \u00a3420m), see Note
23 for further details. In addition to the above, Barclays Bank Group holds forward starting reverse repos amounting to
\u00a381.5bn (2024: \u00a3108.6bn) which are fully collateralised. Corporate loans at amortised cost include \u00a30.1bn (2024: \u00a30.2bn ) of
CBILs and CLBILs supported by UK government guarantees of \u00a30.1bn (2024: \u00a30.1bn) which are included within the Risk
transfer column in the table. Reported off-balance sheet loan commitments also include exposures relating to financial
assets classified as assets held for sale.
Maximum exposure and effects of netting, collateral and risk transfer (audited)
Maximum
exposure
Netting
and set-
off
Cash
collateral
Non-cash
collateral
Risk
transfer
Exposure
net of risk
mitigation
Barclays Bank Group
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
On-balance sheet:
Cash and balances at central banks
180,365
\u2014
\u2014
\u2014
\u2014
180,365
Cash collateral and settlement balances
113,987
\u2014
\u2014
\u2014
\u2014
113,987
Loans and advances at amortised cost:
Retail mortgages
4,956
\u2014
(22)
(4,922)
\u2014
12
Retail credit cards
19,749
\u2014
\u2014
\u2014
\u2014
19,749
Retail other
3,918
\u2014
(1,106)
(2,441)
(33)
338
Corporate loans
116,204
(3,006)
(1,104)
(57,458)
(4,536)
50,100
Total loans and advances at amortised cost
144,827
(3,006)
(2,232)
(64,821)
(4,569)
70,199
Of which credit-impaired (Stage 3):
Retail mortgages
278
\u2014
\u2014
(277)
\u2014
1
Retail credit cards
308
\u2014
\u2014
\u2014
\u2014
308
Retail other
191
\u2014
(21)
(162)
\u2014
8
Corporate loans
1,261
\u2014
(32)
(383)
(87)
759
Total credit-impaired loans and advances at amortised cost
2,038
\u2014
(53)
(822)
(87)
1,076
Debt securities at amortised cost
50,227
\u2014
\u2014
(583)
(40)
49,604
Reverse repurchase agreements and other similar secured lending
3,393
\u2014
\u2014
(3,393)
\u2014
\u2014
Trading portfolio assets:
Debt securities
77,805
\u2014
\u2014
(657)
\u2014
77,148
Traded loans
13,470
\u2014
\u2014
(878)
\u2014
12,592
Total trading portfolio assets
91,275
\u2014
\u2014
(1,535)
\u2014
89,740
Financial assets at fair value through the income statement:
Loans and advances
44,182
\u2014
(17)
(40,401)
\u2014
3,764
Debt securities
2,931
\u2014
\u2014
(182)
\u2014
2,749
Reverse repurchase agreements
141,791
\u2014
(2,429)
(138,924)
\u2014
438
Other financial assets
85
\u2014
\u2014
\u2014
\u2014
85
Total financial assets at fair value through the income statement
188,989
\u2014
(2,446)
(179,507)
\u2014
7,036
Derivative financial instruments
292,356
(230,260)
(28,953)
(12,633)
(5,284)
15,226
Financial assets at fair value through other comprehensive income
51,010
\u2014
\u2014
(1,104)
(102)
49,804
Other assets
665
\u2014
(1)
\u2014
\u2014
664
Assets held for sale
9,544
\u2014
\u2014
\u2014
\u2014
9,544
Total on-balance sheet
1,126,638
(233,266)
(33,632)
(263,576)
(9,995)
586,169
Off-balance sheet:
Contingent liabilities
26,565
\u2014
(2,664)
(441)
(248)
23,212
Loan commitments
353,777
\u2014
(550)
(51,812)
(1,840)
299,575
Total off-balance sheet
380,342
\u2014
(3,214)
(52,253)
(2,088)
322,787
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
1,506,980
(233,266)
(36,846)
(315,829)
(12,083)
908,956
Barclays Bank Group (audited)
Stage 2
As at 31 December 2025
Stage 1
Not past
due
<=30 days
past due
>30 days
past due
Total
Stage 3
Total 1
Gross exposure
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
4,674
34
1
101
136
175
4,985
Retail credit cards
18,801
2,022
238
276
2,536
1,776
23,113
Retail other
3,788
80
123
62
265
107
4,160
Corporate loans
111,629
7,941
60
155
8,156
2,360
122,145
Total loans and advances at amortised cost
138,892
10,077
422
594
11,093
4,418
154,403
Debt securities at amortised cost
54,801
371
\u2014
\u2014
371
\u2014
55,172
Total loans and advances at amortised cost
including debt securities
193,693
10,448
422
594
11,464
4,418
209,575
Impairment allowance
Retail mortgages
9
\u2014
\u2014
\u2014
\u2014
24
33
Retail credit cards
395
508
105
183
796
1,395
2,586
Retail other
7
3
1
1
5
20
32
Corporate loans
141
219
6
10
235
590
966
Total loans and advances at amortised cost
552
730
112
194
1,036
2,029
3,617
Debt securities at amortised cost
10
9
\u2014
\u2014
9
\u2014
19
Total loans and advances at amortised cost
including debt securities
562
739
112
194
1,045
2,029
3,636
Net exposure
Retail mortgages
4,665
34
1
101
136
151
4,952
Retail credit cards
18,406
1,514
133
93
1,740
381
20,527
Retail other
3,781
77
122
61
260
87
4,128
Corporate loans
111,488
7,722
54
145
7,921
1,770
121,179
Total loans and advances at amortised cost
138,340
9,347
310
400
10,057
2,389
150,786
Debt securities at amortised cost
54,791
362
\u2014
\u2014
362
\u2014
55,153
Total loans and advances at amortised cost
including debt securities
193,131
9,709
310
400
10,419
2,389
205,939
Coverage ratio
%
%
%
%
%
%
%
Retail mortgages
0.2
\u2014
\u2014
\u2014
\u2014
13.7
0.7
Retail credit cards
2.1
25.1
44.1
66.3
31.4
78.5
11.2
Retail other
0.2
3.8
0.8
1.6
1.9
18.7
0.8
Corporate loans
0.1
2.8
10.0
6.5
2.9
25.0
0.8
Total loans and advances at amortised cost
0.4
7.2
26.5
32.7
9.3
45.9
2.3
Debt securities at amortised cost
\u2014
2.4
\u2014
\u2014
2.4
\u2014
\u2014
Total loans and advances at amortised cost
including debt securities
0.3
7.1
26.5
32.7
9.1
45.9
1.7
Note
1Other financial assets subject to impairment excluded in the table above include cash collateral and settlement balances, reverse repurchase
agreements and other similar secured lending, financial assets at fair value through other comprehensive income and other assets. These have a
total gross exposure of \u00a3186.1bn and an impairment allowance of \u00a3145m. This comprises \u00a317m impairment allowance on \u00a3184.4bn Stage 1
exposure, \u00a38m on \u00a31.6bn Stage 2\u00a0exposure and \u00a3120m on \u00a3123m Stage 3 exposure. Loan commitments and financial guarantee contracts have
total impairment allowance of \u00a3398m .
\u00a0 \u00a0
Barclays Bank Group (audited)
Stage 2
As at 31 December 2024
Stage 1
Not past
due
<=30 days
past due
>30 days
past due
Total
Stage 3
Total 1
Gross exposure
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
4,537
9
\u2014
141
150
310
4,997
Retail credit cards
17,629
2,449
256
248
2,953
1,724
22,306
Retail other
3,329
177
157
70
404
216
3,949
Corporate loans
107,194
7,944
137
66
8,147
1,654
116,995
Total loans and advances at amortised cost
132,689
10,579
550
525
11,654
3,904
148,247
Debt securities at amortised cost
47,077
3,170
\u2014
\u2014
3,170
\u2014
50,247
Total loans and advances at amortised cost
including debt securities
179,766
13,749
550
525
14,824
3,904
198,494
Impairment allowance
Retail mortgages
8
1
\u2014
\u2014
1
32
41
Retail credit cards
334
552
105
150
807
1,416
2,557
Retail other
5
1
\u2014
\u2014
1
25
31
Corporate loans
144
240
6
8
254
393
791
Total loans and advances at amortised cost
491
794
111
158
1,063
1,866
3,420
Debt securities at amortised cost
9
11
\u2014
\u2014
11
\u2014
20
Total loans and advances at amortised cost
including debt securities
500
805
111
158
1,074
1,866
3,440
Net exposure
Retail mortgages
4,529
8
\u2014
141
149
278
4,956
Retail credit cards
17,295
1,897
151
98
2,146
308
19,749
Retail other
3,324
176
157
70
403
191
3,918
Corporate loans
107,050
7,704
131
58
7,893
1,261
116,204
Total loans and advances at amortised cost
132,198
9,785
439
367
10,591
2,038
144,827
Debt securities at amortised cost
47,068
3,159
\u2014
\u2014
3,159
\u2014
50,227
Total loans and advances at amortised cost
including debt securities
179,266
12,944
439
367
13,750
2,038
195,054
Coverage ratio
%
%
%
%
%
%
%
Retail mortgages
0.2
11.1
\u2014
\u2014
0.7
10.3
0.8
Retail credit cards
1.9
22.5
41.0
60.5
27.3
82.1
11.5
Retail other
0.2
0.6
\u2014
\u2014
0.2
11.6
0.8
Corporate loans
0.1
3.0
4.4
12.1
3.1
23.8
0.7
Total loans and advances at amortised cost
0.4
7.5
20.2
30.1
9.1
47.8
2.3
Debt securities at amortised cost
\u2014
0.3
\u2014
\u2014
0.3
\u2014
\u2014
Total loans and advances at amortised cost
including debt securities
0.3
5.9
20.2
30.1
7.2
47.8
1.7
Note
1Other financial assets subject to impairment excluded in the table above include cash collateral and settlement balances, reverse repurchase
agreements and other similar secured lending, financial assets at fair value through other comprehensive income and other assets. These have a
total gross exposure of \u00a3169.6bn and an impairment allowance of \u00a3150m. This comprises \u00a317m impairment allowance on \u00a3168.3bn Stage 1
exposure, \u00a37m on \u00a31.1bn Stage 2\u00a0exposure and \u00a3126m on \u00a3130m Stage 3 exposure. Loan commitments and financial guarantee contracts have
total impairment allowance of \u00a3420m.
Movement in gross exposures and impairment allowance including provisions for loan commitments and financial
guarantees (audited)
The following tables present a reconciliation of the opening to the closing balance of the gross exposure and impairment
allowance.
Transfers between stages in the tables have been reflected as if they had taken place at the beginning of the year. 'Net
drawdowns, repayments, net re-measurement and movements due to exposure and risk parameter changes' includes
additional drawdowns and partial repayments from existing facilities. Additionally, the below tables do not include other
financial assets subject to impairment such as debt securities at amortised cost, reverse repurchase agreements and other
similar secured lending, cash collateral and settlement balances, financial assets at fair value through other comprehensive
income and other assets.
The movements are measured over a 12-month period.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2025
4,537
8
150
1
310
32
4,997
41
Transfers from Stage 1 to Stage 2
(92)
\u2014
92
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
80
\u2014
(80)
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(27)
\u2014
(15)
\u2014
42
\u2014
\u2014
\u2014
Transfers from Stage 3
59
2
2
\u2014
(61)
(2)
\u2014
\u2014
Business activity in the year
635
1
\u2014
\u2014
\u2014
\u2014
635
1
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
135
(1)
2
\u2014
(19)
8
118
7
Final repayments
(653)
(1)
(14)
\u2014
(80)
(1)
(747)
(2)
Disposals1
\u2014
\u2014
(1)
(1)
(9)
(5)
(10)
(6)
Write-offs
\u2014
\u2014
\u2014
\u2014
(8)
(8)
(8)
(8)
As at 31\u00a0December 2025
4,674
9
136
\u2014
175
24
4,985
33
Retail credit cards
As at 1 January 2025
17,629
334
2,953
807
1,724
1,416
22,306
2,557
Transfers from Stage 1 to Stage 2
(1,047)
(35)
1,047
35
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
1,208
268
(1,208)
(268)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(515)
(20)
(731)
(286)
1,246
306
\u2014
\u2014
Transfers from Stage 3
12
9
5
4
(17)
(13)
\u2014
\u2014
Business activity in the year2
2,575
75
237
87
60
40
2,872
202
Refinements to models used for calculation3
\u2014
68
\u2014
(81)
\u2014
1
\u2014
(12)
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
(980)
(299)
262
508
(45)
793
(763)
1,002
Final repayments
(81)
(5)
(29)
(10)
(32)
(26)
(142)
(41)
Disposals1
\u2014
\u2014
\u2014
\u2014
(308)
(270)
(308)
(270)
Write-offs
\u2014
\u2014
\u2014
\u2014
(852)
(852)
(852)
(852)
As at 31\u00a0December 2025
18,801
395
2,536
796
1,776
1,395
23,113
2,586
Retail other
As at 1 January 2025
3,329
5
404
1
216
25
3,949
31
Transfers from Stage 1 to Stage 2
(107)
\u2014
107
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
80
\u2014
(80)
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(75)
\u2014
(35)
\u2014
110
\u2014
\u2014
\u2014
Transfers from Stage 3
56
1
\u2014
\u2014
(56)
(1)
\u2014
\u2014
Business activity in the year
1,155
\u2014
24
\u2014
\u2014
\u2014
1,179
\u2014
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to exposure
and risk parameter changes
1,176
4
158
4
23
8
1,357
16
Final repayments
(1,826)
(3)
(313)
\u2014
(179)
(5)
(2,318)
(8)
Disposals
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Write-offs
\u2014
\u2014
\u2014
\u2014
(7)
(7)
(7)
(7)
As at 31\u00a0December 2025
3,788
7
265
5
107
20
4,160
32
Notes
1 The \u00a310m of gross disposals reported within Retail mortgages relate to sale of the Italian mortgage portfolio. The \u00a3308m of gross disposals
reported within Retail credit cards relate to debt sales undertaken during the year.
2 Business activity in the year reported within Retail credit cards includes \u00a31.2bn related to acquisition of the GM co-branded card portfolio within
USCB.
3 Refinements to models used for calculation reported within Retail credit cards include a \u00a3(12)m movement in the calculated ECL for the US Cards
portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to determine
accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over an
extended period of time. This helps to ensure that the models used continue to reflect the risks inherent in the businesses.
\u00a0 \u00a0 \u00a0
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Corporate loans
As at 1 January 2025
107,194
144
8,147
254
1,654
393
116,995
791
Transfers from Stage 1 to Stage 2
(2,685)
(11)
2,685
11
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
2,417
46
(2,417)
(46)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(692)
(4)
(505)
(28)
1,197
32
\u2014
\u2014
Transfers from Stage 3
146
2
125
1
(271)
(3)
\u2014
\u2014
Business activity in the year1
28,266
40
976
37
225
19
29,467
96
Refinements to models used for calculation2
\u2014
(65)
\u2014
(24)
\u2014
\u2014
\u2014
(89)
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
4,088
14
842
81
(50)
405
4,880
500
Final repayments
(27,104)
(24)
(1,695)
(49)
(40)
(1)
(28,839)
(74)
Disposals3
(1)
(1)
(2)
(2)
(121)
(21)
(124)
(24)
Write-offs
\u2014
\u2014
\u2014
\u2014
(234)
(234)
(234)
(234)
As at 31\u00a0December 2025
111,629
141
8,156
235
2,360
590
122,145
966
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Reconciliation of ECL movement to credit impairment charge/(release) for the period
Stage 1
Stage 2
Stage 3
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
1
\u2014
5
6
Retail credit cards
61
(11)
1,101
1,151
Retail other
2
4
2
8
Corporate loans
(2)
(17)
452
433
ECL movement excluding disposals and write-offs4
62
(24)
1,560
1,598
ECL movement on loan commitments and financial guarantees
(23)
(6)
7
(22)
ECL movement on other financial assets
\u2014
1
(6)
(5)
ECL movement on debt securities at amortised cost
1
(2)
\u2014
(1)
Recoveries and reimbursements5
10
(26)
(102)
(118)
ECL charge on assets held for sale6
181
Total exchange and other adjustments
233
Total credit impairment charge for the year
1,866
Notes
1 Business activity in the year reported within Corporate loans include \u00a30.1bn related to acquisition of the GM co-branded card portfolio within
USCB.
2 Refinements to models used for calculation reported within Corporate loans include a \u00a3(89)m movement in the calculated ECL for the UKCB and
IB portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to
determine accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over
an extended period of time. This helps to ensure that the models used continue to reflect the risks inherent in the businesses.
3 The \u00a3124m of gross disposals reported within Corporate loans relate to debt sales undertaken during the year.
4 In 2025, gross write-offs amounted to \u00a31,101m and post write-off recoveries amounted to \u00a338m. Net write-offs represent gross write-offs less
post write-off recoveries and amounted to \u00a31,063m.
5 Recoveries and reimbursements include \u00a380m for reimbursements where the Barclays Bank Group has entered into financial guarantee
contracts which provide credit protection over certain assets with third parties and cash recoveries of previously written-off amounts of \u00a338m.
6 ECL charge on assets held for sale relate to the charges on a co-branded card portfolio in USCB and the German consumer finance business.
Loan commitments and financial guarantees
(audited)1
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2025
18
\u2014
\u2014
\u2014
1
\u2014
19
\u2014
Net transfers between stages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Business activity in the year
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(5)
\u2014
\u2014
\u2014
(1)
\u2014
(6)
\u2014
Limit management and final repayments
(3)
\u2014
\u2014
\u2014
\u2014
\u2014
(3)
\u2014
As at 31 December 2025
10
\u2014
\u2014
\u2014
\u2014
\u2014
10
\u2014
Retail credit cards
As at 1 January 2025
112,645
34
1,648
15
10
1
114,303
50
Net transfers between stages
(1,083)
7
1,083
(7)
\u2014
\u2014
\u2014
\u2014
Business activity in the year
24,319
11
120
2
\u2014
\u2014
24,439
13
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(6,434)
(19)
(1,528)
5
\u2014
(1)
(7,962)
(15)
Limit management and final repayments
(11,277)
(7)
(196)
(4)
\u2014
\u2014
(11,473)
(11)
Disposals2
(5,291)
\u2014
(221)
\u2014
(10)
\u2014
(5,522)
\u2014
As at 31 December 2025
112,879
26
906
11
\u2014
\u2014
113,785
37
Retail other
As at 1 January 2025
3,970
5
103
\u2014
11
\u2014
4,084
5
Net transfers between stages
(28)
\u2014
29
\u2014
(1)
\u2014
\u2014
\u2014
Business activity in the year
624
\u2014
1
\u2014
\u2014
\u2014
625
\u2014
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
291
(4)
46
\u2014
23
\u2014
360
(4)
Limit management and final repayments
(784)
\u2014
(33)
\u2014
(20)
\u2014
(837)
\u2014
Disposals2
(756)
\u2014
(30)
\u2014
(1)
\u2014
(787)
\u2014
As at 31 December 2025
3,317
1
116
\u2014
12
\u2014
3,445
1
Corporate loans
As at 1 January 2025
229,565
116
15,079
225
954
24
245,598
365
Net transfers between stages
(201)
40
269
(40)
(68)
\u2014
\u2014
\u2014
Business activity in the year
50,364
28
2,699
61
405
\u2014
53,468
89
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
9,810
(54)
(492)
33
(282)
13
9,036
(8)
Limit management and final repayments
(60,919)
(26)
(4,259)
(56)
(340)
(4)
(65,518)
(86)
As at 31 December 2025
228,619
104
13,296
223
669
33
242,584
360
Notes
1 Loan commitments reported also include exposure relating to financial assets classified as held for sale.
2 The gross disposals reported within Retail credit cards and Retail other relate to the German consumer finance business; sale of which was
completed in Q125.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2024
7,257
11
389
28
716
321
8,362
360
Transfers from Stage 1 to Stage 2
(231)
\u2014
231
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
91
3
(91)
(3)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(82)
\u2014
(30)
(3)
112
3
\u2014
\u2014
Transfers from Stage 3
19
1
11
\u2014
(30)
(1)
\u2014
\u2014
Business activity in the year
632
1
\u2014
\u2014
2
\u2014
634
1
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
197
(2)
(2)
9
69
40
264
47
Final repayments
(893)
(1)
(45)
(1)
(86)
(3)
(1,024)
(5)
Disposals1
(2,453)
(5)
(313)
(29)
(461)
(316)
(3,227)
(350)
Write-offs
\u2014
\u2014
\u2014
\u2014
(12)
(12)
(12)
(12)
As at 31 December 2024
4,537
8
150
1
310
32
4,997
41
Retail credit cards
As at 1 January 2024
22,315
412
3,450
1,138
1,522
1,226
27,287
2,776
Transfers from Stage 1 to Stage 2
(1,503)
(51)
1,503
51
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
1,170
321
(1,170)
(321)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(616)
(24)
(876)
(390)
1,492
414
\u2014
\u2014
Transfers from Stage 3
10
9
8
5
(18)
(14)
\u2014
\u2014
Business activity in the year
1,508
33
206
59
20
18
1,734
110
Refinements to models used for calculation2
\u2014
5
\u2014
2
\u2014
4
\u2014
11
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
1,039
(280)
728
506
(45)
973
1,722
1,199
Final repayments
(108)
(7)
(32)
(13)
(1)
\u2014
(141)
(20)
Transfers to assets held for Sale3
(5,495)
(64)
(689)
(161)
(57)
(46)
(6,241)
(271)
Disposals1
(691)
(20)
(175)
(69)
(249)
(219)
(1,115)
(308)
Write-offs
\u2014
\u2014
\u2014
\u2014
(940)
(940)
(940)
(940)
As at 31 December 2024
17,629
334
2,953
807
1,724
1,416
22,306
2,557
Retail other
As at 1 January 2024
2,734
8
369
2
308
35
3,411
45
Transfers from Stage 1 to Stage 2
(221)
\u2014
221
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
86
\u2014
(86)
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(148)
\u2014
(53)
\u2014
201
\u2014
\u2014
\u2014
Transfers from Stage 3
82
\u2014
47
\u2014
(129)
\u2014
\u2014
\u2014
Business activity in the year
1,159
1
\u2014
\u2014
\u2014
\u2014
1,159
1
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
1,640
\u2014
36
\u2014
74
13
1,750
13
Final repayments
(2,003)
(4)
(130)
(1)
(224)
(9)
(2,357)
(14)
Disposals
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Write-offs
\u2014
\u2014
\u2014
\u2014
(14)
(14)
(14)
(14)
As at 31 December 2024
3,329
5
404
1
216
25
3,949
31
Notes
1 The \u00a33.2bn of gross disposals reported within Retail mortgages relate to sale of the Italian mortgage loans. The \u00a31.1bn of\u00a0 gross disposals
reported within Retail credit cards include \u00a30.9bn sale of outstanding US Cards receivables to Blackstone and \u00a30.2bn of other debt sale
undertaken during the year.
2 Refinements to models used for calculation reported within Retail credit cards include a \u00a311 m movement in the calculated ECL for the US
Cards portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to
determine accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation
over an extended period of time. This helps to ensure that the models used continue to reflect the risks inherent across the businesses.
3 Transfers to assets held for sale reported within Retail credit cards relate to a co-branded card portfolio within USCB.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Corporate loans
As at 1 January 2024
100,956
179
8,967
309
1,235
348
111,158
836
Transfers from Stage 1 to Stage 2
(2,586)
(15)
2,586
15
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
2,098
42
(2,098)
(42)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(404)
(2)
(392)
(21)
796
23
\u2014
\u2014
Transfers from Stage 3
143
1
23
5
(166)
(6)
\u2014
\u2014
Business activity in the year
28,497
39
811
34
183
19
29,491
92
Refinements to models used for calculation 1
\u2014
18
\u2014
51
\u2014
\u2014
\u2014
69
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
3,957
(76)
198
\u2014
6
270
4,161
194
Final repayments
(25,406)
(40)
(1,937)
(92)
(142)
(3)
(27,485)
(135)
Transfers to assets held for sale2
(49)
(1)
(9)
(3)
(1)
(1)
(59)
(5)
Disposals3
(12)
(1)
(2)
(2)
(2)
(2)
(16)
(5)
Write-offs
\u2014
\u2014
\u2014
\u2014
(255)
(255)
(255)
(255)
As at 31 December 2024
107,194
144
8,147
254
1,654
393
116,995
791
Reconciliation of ECL movement to credit impairment (release)/charge for the period
Stage 1
Stage 2
Stage 3
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
2
2
39
43
Retail credit cards
6
(101)
1,395
1,300
Retail other
(3)
(1)
4
\u2014
Corporate loans
(33)
(50)
303
220
ECL movement excluding assets held for sale, disposals and write-offs4
(28)
(150)
1,741
1,563
ECL movement on loan commitments and financial guarantees
(12)
(23)
(18)
(53)
ECL movement on other financial assets
3
6
(4)
5
ECL movement on debt securities at amortised cost
2
(6)
\u2014
(4)
Recoveries and reimbursements5
(20)
23
(42)
(39)
ECL charge on Assets held for sale6
74
Total exchange and other adjustments
71
Total credit impairment charge for the year
1,617
Notes
1 Refinements to models used for calculation reported within Corporate loans include a \u00a369m movement in the calculated ECL for the IB portfolio.
These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to determine accuracy
of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over an extended period
of time. This helps to ensure that the models used continue to reflect the risks inherent across the businesses.
2 Transfers to assets held for sale reported within Corporate loans relate to a co-branded card portfolio within USCB.
3 The \u00a316m of gross disposals reported within Corporate loans relate to debt sales undertaken during the year.
4 In 2024, gross write-offs amounted to \u00a31,221m and post write-off recoveries amounted to \u00a328m. Net write-offs represent gross write-offs less
post write-off recoveries and amounted to \u00a31,193m.
5 Recoveries and reimbursements include \u00a311m for reimbursements where the Barclays Bank Group has entered into financial guarantee
contracts which provide credit protection over certain assets with third parties and cash recoveries of previously written off amounts of \u00a328m.
6 ECL charge on assets held for sale relate to the German consumer finance business.
Loan commitments and financial guarantees
(audited) 1
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2024
41
\u2014
\u2014
\u2014
1
\u2014
42
\u2014
Net transfers between stages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Business activity in the year
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(16)
\u2014
\u2014
\u2014
\u2014
\u2014
(16)
\u2014
Limit management and final repayments
(7)
\u2014
\u2014
\u2014
\u2014
\u2014
(7)
\u2014
As at 31 December 2024
18
\u2014
\u2014
\u2014
1
\u2014
19
\u2014
Retail credit cards
As at 1 January 2024
109,634
48
1,767
36
10
1
111,411
85
Net transfers between stages
(1,682)
20
1,675
(20)
7
\u2014
\u2014
\u2014
Business activity in the year
15,489
11
160
3
1
\u2014
15,650
14
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
2,467
(34)
(1,576)
11
(8)
\u2014
883
(23)
Limit management and final repayments
(13,263)
(11)
(378)
(15)
\u2014
\u2014
(13,641)
(26)
As at 31 December 2024
112,645
34
1,648
15
10
1
114,303
50
Retail other
As at 1 January 2024
3,446
5
116
2
29
\u2014
3,591
7
Net transfers between stages
(35)
\u2014
23
\u2014
12
\u2014
\u2014
\u2014
Business activity in the year
741
2
1
\u2014
\u2014
\u2014
742
2
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
621
(2)
(26)
(2)
(7)
\u2014
588
(4)
Limit management and final repayments
(803)
\u2014
(11)
\u2014
(23)
\u2014
(837)
\u2014
As at 31 December 2024
3,970
5
103
\u2014
11
\u2014
4,084
5
Corporate loans
As at 1 January 2024
212,414
114
20,035
225
802
42
233,251
381
Net transfers between stages
1,240
29
(1,519)
(32)
279
3
\u2014
\u2014
Business activity in the year
50,350
33
1,650
30
192
\u2014
52,192
63
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
10,133
(34)
(1,391)
65
(31)
(13)
8,711
18
Limit management and final repayments
(44,572)
(26)
(3,696)
(63)
(288)
(8)
(48,556)
(97)
As at 31 December 2024
229,565
116
15,079
225
954
24
245,598
365
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Note
1Loan commitments reported also include exposure relating to financial assets classified as held for sale.
Management adjustments to models for impairment (audited)
Management adjustments to impairment models are applied in order to factor in certain conditions or changes in policy that
are not fully incorporated into the impairment models, or to reflect additional facts and circumstances at the period end.
Management adjustments are reviewed and incorporated into future model development where applicable.
Management adjustments are captured through \u201cEconomic uncertainty\u201d and \u201cOther\u201d adjustments, and are presented by
product below:
Management adjustments to models for impairment allowance presented by product (audited)
Barclays Bank Group
Impairment
allowance pre
management
adjustments1
Economic
uncertainty
adjustments
(a)
Other
adjustments
(b)
Management\u00a0
adjustments2
(a+b)
Total
impairment
allowance3
Proportion of
Management
adjustments
to total
impairment
allowance
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail mortgages
25
\u2014
8
8
33
24.2
Retail credit cards
2,505
31
87
118
2,623
4.5
Retail other
34
\u2014
(1)
(1)
33
(3.0)
Corporate loans
1,253
49
24
73
1,326
5.5
Total
3,817
80
118
198
4,015
4.9
Debt securities at amortised cost
18
1
\u2014
1
19
5.3
Total including debt securities at amortised cost
3,835
81
118
199
4,034
4.9
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail mortgages
38
\u2014
3
3
41
7.3
Retail credit cards
2,630
\u2014
(23)
(23)
2,607
(0.9)
Retail other
32
\u2014
4
4
36
11.1
Corporate loans
1,162
\u2014
(6)
(6)
1,156
(0.5)
Total
3,862
\u2014
(22)
(22)
3,840
(0.6)
Debt securities at amortised cost
27
\u2014
(7)
(7)
20
(35.0)
Total including debt securities at amortised cost
3,889
\u2014
(29)
(29)
3,860
(0.8)
Notes
1\u00a0 \u00a0 \u00a0 Includes \u00a33.4bn (2024: \u00a33.7bn) of modelled ECL, \u00a30.5bn (2024: \u00a30.3bn) of individually assessed impairments, \u00a3(0.2)bn (2024: \u00a3(0.3)bn) of
ECL from assets held for sale (co-branded card portfolio) and \u00a30.1bn (2024: \u00a30.1bn) of ECL from benchmarked exposures and debt securities.
2\u00a0 \u00a0 \u00a0 Management adjustments related to other financial assets subject to impairment not included in the table above include cash collateral and
settlement balances \u00a31m (2024: \u00a3(1)m), reverse repurchase agreements \u00a31m (2024: \u00a3(2)m) and financial assets at fair value through other
comprehensive income \u00a3nil (2024: \u00a3(2)m) within the IB portfolio.
3\u00a0 \u00a0 \u00a0 Total impairment allowance consists of ECL stock on drawn and undrawn exposures.
Economic uncertainty adjustments presented by stage (audited)
Stage 1
Stage 2
Stage 3
Total
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
\u2014
\u2014
\u2014
\u2014
Retail credit cards
\u2014
31
\u2014
31
Retail other
\u2014
\u2014
\u2014
\u2014
Corporate loans
16
33
\u2014
49
Total
16
64
\u2014
80
Debt Securities at amortised cost
1
\u2014
\u2014
1
Total including debt securities at amortised cost
17
64
\u2014
81
Economic uncertainty adjustments
Economic uncertainty adjustments are captured in two ways. First, customer uncertainty: the identification of customers
and clients who may be more vulnerable to economic instability; and second, model uncertainty: to capture the impact of
model limitations and sensitivities to specific macroeconomic parameters, which are applied at a portfolio level.
The Barclays Bank Group continues to monitor the elevated tariffs, trade tensions, and geopolitical risks, especially in the US.
In response, an adjustment of \u00a381m introduced during Q125 within customer and client uncertainty provisions has been
retained, with any resulting effects on customer behaviour yet to materialise.
Other adjustments
Other adjustments are operational and remain in place until incorporated into the underlying models. These adjustments
result from data limitations and model performance related issues identified through model monitoring and other
established governance processes.
Total other adjustments as at 31 December 2025 are \u00a3118m (2024: \u00a3(29)m) and include:
\u2022 Retail mortgages \u00a38m (2024: \u00a33m): Reflects operational adjustments in the Mortgage product of the Private Banking
portfolio
\u2022 Retail credit cards \u00a387m (2024: \u00a3(23)m): This adjustment reflects provisioning for the GM consumer cards portfolio
acquired during the year, while the previously held high-risk account management (HRAM) adjustment was retired
following model remediation in USCB
\u2022 Corporate loans \u00a324m (2024: \u00a3(6)m): This adjustment reflects provisioning for the GM business cards portfolio
acquired during the year
\u2022 Debt securities \u00a3 nil (2024: \u00a3(7)m): The movement is driven by the retirement of the Exposure at Default recalibration
adjustment following model remediation in the IB portfolio
Scenario weighting (audited)1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
%
%
%
%
%
As at 31 December 2025
Scenario weighting
14.4
27.4
38.5
12.7
7.0
As at 31 December 2024
Scenario weighting
17.4
26.8
32.5
14.7
8.6
Note
1For further details on changes to scenario weights see page 185.
Specific bases show the most extreme position of each variable in the context of the downside/upside scenarios, for
example, the highest unemployment for downside scenarios, average unemployment for baseline scenarios and lowest
unemployment for upside scenarios. GDP and HPI downside and upside scenario data represents the lowest and highest
points relative to the start point in the 20 quarter period.
Macroeconomic variables used in the calculation of ECL (specific bases) (audited)1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
%
%
%
%
%
As at 31 December 2025
UK GDP 2
14.5
10.8
1.4
(0.3)
(3.5)
UK unemployment3
3.8
4.3
4.8
6.5
8.1
UK HPI 4
34.6
24.9
3.0
(12.6)
(28.0)
UK bank rate3
2.3
2.8
3.6
4.6
4.6
US GDP 2
14.6
12.4
2.0
(0.2)
(4.6)
US unemployment3
3.7
4.1
4.4
6.6
8.8
US HPI 4
26.2
19.3
2.4
(1.5)
(8.1)
US federal funds rate3
2.5
2.8
3.5
4.3
4.3
As at 31 December 2024
UK GDP 2
15.0
11.6
1.4
0.2
(2.9)
UK unemployment3
3.4
3.9
4.4
6.5
8.4
UK HPI 4
36.3
25.9
3.0
(11.3)
(26.8)
UK bank rate3
2.8
3.3
4.2
5.3
5.3
US GDP 2
14.9
12.8
2.2
0.4
(2.1)
US unemployment3
3.5
3.8
4.2
5.9
7.5
US HPI 4
30.1
24.4
3.5
1.1
(4.0)
US federal funds rate3
2.8
3.3
4.2
5.3
5.3
Average basis represents the average quarterly value of variables in the 20 quarter period with GDP and HPI based on yearly
average and quarterly CAGRs respectively.
Macroeconomic variables used in the calculation of ECL (5 year averages) (audited) 1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
%
%
%
%
%
As at 31 December 2025
UK GDP 5
2.7
2.0
1.4
0.9
0.3
UK unemployment6
4.1
4.5
4.8
5.5
6.2
UK HPI 7
6.1
4.5
3.0
0.6
(2.0)
UK bank rate6
2.9
3.2
3.6
2.7
1.7
US GDP 5
2.7
2.4
2.0
1.1
0.1
US unemployment6
3.9
4.1
4.4
5.4
6.3
US HPI 7
4.8
3.6
2.4
1.9
1.5
US federal funds rate6
2.9
3.2
3.5
3.1
2.5
As at 31 December 2024
UK GDP 5
2.6
2.0
1.4
0.9
0.5
UK unemployment6
3.7
4.0
4.4
5.3
6.1
UK HPI 7
6.4
4.7
3.0
0.8
(1.6)
UK bank rate6
3.5
3.9
4.2
3.3
2.4
US GDP 5
2.9
2.5
2.2
1.7
1.2
US unemployment6
3.7
3.9
4.2
5.0
5.8
US HPI 7
5.4
4.5
3.5
2.4
1.2
US federal funds rate6
3.6
4.0
4.2
3.2
2.1
Notes
1\u00a0 \u00a0 UK GDP = Real GDP growth seasonally adjusted; UK unemployment = UK unemployment rate 16-year+; UK HPI (31.12.24) = Halifax All Houses,
All Buyers Index; UK HPI (31.12.25) = Halifax HPI Meth2 All Houses, All Buyers index; US GDP = Real GDP growth seasonally adjusted; US
unemployment = US civilian unemployment rate 16-year+; US HPI = FHFA house price index. 20 quarter period starts from Q125 (2024: Q124).
2\u00a0 Maximum growth relative to Q424 (2024: Q423), based on 20 quarter period in Upside scenarios; 5-year yearly average CAGR in Baseline;
minimum growth relative to Q424 (2024: Q423), based on 20 quarter period in Downside scenarios.
3\u00a0 \u00a0 Lowest quarter in Upside scenarios; 5-year average in Baseline; highest quarter in Downside scenarios. Period based on 20 quarters from Q125
(2024: Q124).
4\u00a0 \u00a0 Maximum growth relative to Q424 (2024: Q423), based on 20 quarter period in Upside scenarios; 5-year quarter end CAGR in Baseline;
minimum growth relative to Q424 (2024: Q423), based on 20 quarter period in Downside scenarios.
5\u00a0 \u00a0 5-year yearly average CAGR, starting 2024 ( 2024: 2023).
6\u00a0 \u00a0 5-year average. Period based on 20 quarters from Q125 (2024: Q124).
7\u00a0 \u00a0 5 -year quarter end CAGR, starting Q424 (2024: Q423).
ECL sensitivity analysis (audited)
The table below shows the modelled ECL assuming each of the five modelled scenarios are 100% weighted with the
dispersion of results around the Baseline, highlighting the impact on exposure and ECL across the scenarios.
Model exposure uses exposure at default (EAD) values and is not directly comparable to gross exposure used in other
disclosures.
Barclays Bank Group (audited)
Scenarios
As at 31 December 2025
Weighted1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
Stage 1 Model exposure (\u00a3m)
Retail mortgages
13
13
13
13
13
13
Retail credit cards2
41,195
40,997
41,089
41,197
41,419
41,583
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans2
201,622
202,562
202,203
201,950
200,869
197,068
Stage 1 Model ECL (\u00a3m)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards 2
448
420
434
450
475
500
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans 2
197
172
180
188
233
280
Stage 1 Coverage (%)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
1.1
1.0
1.1
1.1
1.1
1.2
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
0.1
0.1
0.1
0.1
0.1
0.1
Stage 2 Model exposure (\u00a3m)
Retail mortgages
1
1
1
1
1
1
Retail credit cards 2
3,513
3,392
3,455
3,504
3,634
3,837
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans 2
15,180
14,097
14,510
14,869
16,082
20,024
Stage 2 Model ECL (\u00a3m)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards 2
871
809
840
868
936
1,029
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans 2
410
331
356
387
521
771
Stage 2 Coverage (%)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
24.8
23.9
24.3
24.8
25.8
26.8
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
2.7
2.3
2.5
2.6
3.2
3.9
Stage 3 Model exposure (\u00a3m)3
Retail mortgages
15
15
15
15
15
15
Retail credit cards 2
1,975
1,975
1,975
1,975
1,975
1,975
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans2
35
35
35
35
35
35
Stage 3 Model ECL (\u00a3m)
Retail mortgages
2
1
1
2
2
2
Retail credit cards2
1,498
1,455
1,479
1,503
1,534
1,563
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans2,4
25
25
25
25
25
25
Stage 3 Coverage (%)
Retail mortgages
13.3
6.7
6.7
13.3
13.3
13.3
Retail credit cards
75.8
73.7
74.9
76.1
77.7
79.1
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans4
71.4
71.4
71.4
71.4
71.4
71.4
Total Model ECL (\u00a3m)
Retail mortgages
2
1
1
2
2
2
Retail credit cards2
2,817
2,684
2,753
2,821
2,945
3,092
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans2,4
632
528
561
600
779
1,076
Total Model ECL
3,451
3,213
3,315
3,423
3,726
4,170
Reconciliation to total ECL
\u00a3m
Total weighted model ECL
3,451
ECL from individually assessed exposures4
538
ECL from benchmarked exposures and others
63
ECL from debt securities at amortised cost
19
ECL from held for sale assets (co-branded card portfolio)
(235)
ECL from post model management adjustments
198
\u00a0 Of which: ECL from economic uncertainty adjustments
80
Total ECL
4,034
Notes
1. Model exposures are allocated to a stage based on an individual scenario rather than a probability-weighted approach, as required for Barclays
reported impairment allowance. As a result, it is not possible to back solve the final reported weighted ECL from individual scenarios given
balances may be assigned to a different stage dependent on the scenario.
2. Model exposure and ECL reported within Retail credit cards and Corporate loans continue to include a co-branded card portfolio in USCB,
classified as assets held for sale.
3. Model exposures allocated to Stage 3 do not change in any of the scenarios as the transition criteria relies only on observable evidence of
default as at 31 December 2025 and not on the macroeconomic scenario.
4. Material corporate loan defaults are individually assessed across different recovery strategies. As a result, ECL of \u00a3538m is reported as an
individually assessed impairment in the reconciliation table.
The use of five scenarios with associated weightings results in a total weighted ECL uplift from the Baseline ECL of 0.8%.
Retail mortgages: Total weighted ECL of \u00a32m is aligned to the Baseline ECL (\u00a32m).
Retail credit cards: Total weighted ECL of \u00a32,817m is broadly aligned to the Baseline ECL (\u00a32,821m). Total ECL increases to
\u00a33,092m under the Downside 2 scenario, driven by an increase in US unemployment rate.
Corporate loans: Total weighted ECL of \u00a3632m represents a 5.3% increase over the Baseline ECL (\u00a3600m). Total ECL
increases to \u00a31,076m under the Downside 2 scenario, primarily driven by a decrease in US GDP.
Barclays Bank Group (audited)
Scenarios1
As at 31 December 2024
Weighted2
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
Stage 1 Model exposure (\u00a3m)
Retail mortgages
9
9
9
9
9
9
Retail credit cards
45,377
45,328
45,352
45,377
45,429
45,462
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
193,873
194,752
194,413
194,151
193,208
189,985
Stage 1 Model ECL (\u00a3m)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
422
410
417
423
431
438
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
237
206
215
226
272
318
Stage 1 Coverage (%)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
0.9
0.9
0.9
0.9
0.9
1.0
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
0.1
0.1
0.1
0.1
0.1
0.2
Stage 2 Model exposure (\u00a3m)
Retail mortgages
3
3
3
3
3
3
Retail credit cards
4,591
4,516
4,554
4,590
4,660
4,752
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
17,769
16,740
17,134
17,508
18,576
21,956
Stage 2 Model ECL (\u00a3m)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
1,024
976
999
1,023
1,070
1,127
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
464
373
404
439
569
813
Stage 2 Coverage (%)
Retail mortgages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail credit cards
22.3
21.6
21.9
22.3
23.0
23.7
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
2.6
2.2
2.4
2.5
3.1
3.7
Stage 3 Model exposure (\u00a3m)3
Retail mortgages
25
25
25
25
25
25
Retail credit cards
2,005
2,005
2,005
2,005
2,005
2,005
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans
34
34
34
34
34
34
Stage 3 Model ECL (\u00a3m)
Retail mortgages
5
4
5
5
5
5
Retail credit cards
1,535
1,496
1,517
1,537
1,570
1,598
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans4
25
25
25
25
25
25
Stage 3 Coverage (%)
Retail mortgages
20.0
16.0
20.0
20.0
20.0
20.0
Retail credit cards
76.6
74.6
75.7
76.7
78.3
79.7
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans4
73.5
73.5
73.5
73.5
73.5
73.5
Total Model ECL (\u00a3m)
Retail mortgages
5
4
5
5
5
5
Retail credit cards
2,981
2,882
2,933
2,983
3,071
3,163
Retail other
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans4
726
604
644
690
866
1,156
Total Model ECL
3,712
3,490
3,582
3,678
3,942
4,324
Reconciliation to total ECL
\u00a3m
Total weighted model ECL
3,712
ECL from individually assessed exposures4
329
ECL from benchmarked exposures and others
103
ECL from debt securities at amortised cost
20
ECL from held for sale assets (co-branded card portfolio)
(282)
ECL from post model management adjustments 5
(22)
\u00a0 Of which: ECL from economic uncertainty adjustments
\u2014
Total ECL
3,860
Notes
1. Model exposure and ECL reported within Retail credit cards and Retail Other excludes the German consumer finance business, sale of
which completed after the balance sheet date. Model exposure and ECL reported within Retail credit cards and Corporate loans continue
to include a co-branded card portfolio, as the sale is expected to close in 2026.
2. Model exposures are allocated to a stage based on an individual scenario rather than a probability-weighted approach, as required for
Barclays reported impairment allowance. As a result, it is not possible to back solve the final reported weighted ECL from individual
scenarios given balances may be assigned to a different stage dependent on the scenario.
3. Model exposures allocated to Stage 3 do not change in any of the scenarios as the transition criteria relies only on observable evidence of
default as at 31 December 2024 and not on the macroeconomic scenario.
4. Material corporate loan defaults are individually assessed across different recovery strategies. As a result, ECL of \u00a3329m is reported as an
individually assessed impairment in the reconciliation table.
5. Includes negative operational management adjustments.
Credit risk concentration by Industry and Geography (audited)
Loans and advances at amortised cost net of impairment allowance
Industry
Geography
United
Kingdom
Americas
Europe
Others
Total
Barclays Bank Group
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Agriculture, Food and Forest Products
61
\u2014
74
\u2014
135
Mining and Quarrying
679
357
221
8
1,265
Manufacturing
3,500
1,150
760
361
5,771
Government and central bank
156
\u2014
118
478
752
Banks
1,151
3,435
1,719
2,731
9,036
Energy and water
2,176
1,068
294
324
3,862
Materials and Building
13,376
2,414
397
365
16,552
Wholesale and retail distribution and leisure
6,085
675
251
509
7,520
Transport and storage
693
344
205
125
1,367
Home Loans
2,948
116
832
1,056
4,952
Business and other services
12,163
5,610
4,024
1,405
23,202
Other Financial Institutions
9,482
30,760
8,630
2,845
51,717
Cards, unsecured loans and other personal lending
1,404
20,942
1,409
900
24,655
Total loans and advances at amortised cost
53,874
66,871
18,934
11,107
150,786
Debt securities at amortised cost
18,176
18,854
17,250
873
55,153
Total loans and advances at amortised cost including debt
72,050
85,725
36,184
11,980
205,939
Contingent liabilities
6,780
12,320
5,084
1,544
25,728
Loan commitments
49,003
239,882
35,550
9,661
334,096
Total off-balance sheet1
55,783
252,202
40,634
11,205
359,824
As at 31 December 2024
Agriculture, Food and Forest Products
112
\u2014
\u2014
\u2014
112
Mining and Quarrying
506
709
189
\u2014
1,404
Manufacturing
3,168
1,418
828
349
5,763
Government and central bank
220
\u2014
2
342
564
Banks
1,212
3,573
1,286
2,707
8,778
Energy and water
2,067
401
203
287
2,958
Materials and Building
11,255
2,815
399
218
14,687
Wholesale and retail distribution and leisure
5,931
831
294
616
7,672
Transport and storage
519
421
300
96
1,336
Home Loans
3,079
110
899
868
4,956
Business and other services
11,846
5,196
3,646
1,031
21,719
Other Financial Institutions
10,655
30,788
7,226
2,542
51,211
Cards, unsecured loans and other personal lending
1,826
20,081
993
767
23,667
Total loans and advances at amortised cost
52,396
66,343
16,265
9,823
144,827
Debt securities at amortised cost
15,822
18,062
15,123
1,220
50,227
Total loans and advances at amortised cost including debt
68,218
84,405
31,388
11,043
195,054
Contingent liabilities
6,442
10,742
5,514
2,879
25,577
Loan commitments
46,590
243,612
39,864
8,361
338,427
Total off-balance sheet1
53,032
254,354
45,378
11,240
364,004
Note
1The Off-balance sheet contingent liabilities and loan commitments excludes the fair value balance of \u00a322,197m in 2025 (2024 : \u00a316,338m) and
includes exposures relating to financial assets classified as assets held for sale.
Balance sheet credit quality (audited)
PD Range
PD Range
Barclays Bank Group
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
%
%
%
Cash and balances at central banks
208,544
\u2014
\u2014
208,544
100
\u2014
\u2014
100
Cash collateral and settlement balances
111,541
12,970
8
124,519
90
10
\u2014
100
Loans and advances at amortised cost
Retail mortgages
4,662
138
152
4,952
94
3
3
100
Retail credit cards
5,933
13,141
1,453
20,527
29
64
7
100
Retail other
3,605
424
99
4,128
88
10
2
100
Corporate loans
98,665
19,129
3,385
121,179
81
16
3
100
Total loans\u00a0and\u00a0advances at amortised
cost
112,865
32,832
5,089
150,786
75
22
3
100
Debt securities at amortised cost
54,760
333
60
55,153
99
1
\u2014
100
Reverse repurchase agreements and
other similar secured lending
15,712
1,950
\u2014
17,662
89
11
\u2014
100
Trading portfolio assets:
Debt securities
79,405
14,144
491
94,040
84
15
1
100
Traded loans
5,339
5,241
1,669
12,249
43
43
14
100
Total trading\u00a0portfolio assets
84,744
19,385
2,160
106,289
80
18
2
100
Financial assets at fair value through the
income statement:
Loans and advances
26,317
20,026
542
46,885
56
43
1
100
Debt securities
1,937
930
254
3,121
62
30
8
100
Reverse repurchase agreements
96,968
35,131
501
132,600
73
27
\u2014
100
Other financial assets
41
19
\u2014
60
68
32
\u2014
100
Total financial assets at fair value
through the income statement
125,263
56,106
1,297
182,666
68
31
1
100
Derivative\u00a0financial instruments
237,139
14,617
436
252,192
94
6
\u2014
100
Financial assets at fair value through
other comprehensive income
42,756
62
\u2014
42,818
100
\u2014
\u2014
100
Other assets
566
56
2
624
91
9
\u2014
100
Assets held for sale
2,461
3,130
210
5,801
42
54
4
100
Total on-balance sheet
996,351
141,441
9,262
1,147,054
87
12
1
100
Balance sheet credit quality (audited)
PD Range
PD Range
Barclays Bank Group
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
%
%
%
Cash and balances at central banks
180,365
\u2014
\u2014
180,365
100
\u2014
\u2014
100
Cash collateral and settlement balances
98,590
15,371
26
113,987
87
13
\u2014
100
Loans and advances at amortised cost
Retail mortgages
4,524
153
279
4,956
91
3
6
100
Retail credit cards
7,488
11,063
1,198
19,749
38
56
6
100
Retail other
3,217
503
198
3,918
82
13
5
100
Corporate loans
93,324
19,893
2,987
116,204
80
17
3
100
Total loans\u00a0and\u00a0advances at amortised
cost
108,553
31,612
4,662
144,827
75
22
3
100
Debt securities at amortised cost
49,888
339
\u2014
50,227
99
1
\u2014
100
Reverse repurchase agreements and
other similar secured lending
1,625
1,768
\u2014
3,393
48
52
\u2014
100
Trading portfolio assets:
Debt securities
65,785
11,478
542
77,805
84
15
1
100
Traded loans
2,543
7,442
3,485
13,470
19
55
26
100
Total trading\u00a0portfolio assets
68,328
18,920
4,027
91,275
75
21
4
100
Financial assets at fair value through the
income statement:
Loans and advances
24,252
19,357
573
44,182
55
44
1
100
Debt securities
1,722
1,156
53
2,931
59
39
2
100
Reverse repurchase agreements
103,589
37,565
637
141,791
73
27
\u2014
100
Other financial assets
63
22
\u2014
85
74
26
\u2014
100
Total financial assets at fair value
through the income statement
129,626
58,100
1,263
188,989
68
31
1
100
Derivative\u00a0financial instruments
274,058
18,104
194
292,356
94
6
\u2014
100
Financial assets at fair value through
other comprehensive income
50,960
50
\u2014
51,010
100
\u2014
\u2014
100
Other assets
594
68
3
665
90
10
\u2014
100
Assets held for sale
1,178
8,235
131
9,544
12
87
1
100
Total on-balance sheet
963,765
152,567
10,306
1,126,638
85
14
1
100
Credit exposures by internal PD grade
The below tables represent credit risk profiles by PD grade for loans and advances at amortised cost, contingent liabilities
and loan commitments.
Stage 1 higher risk assets, presented gross of associated collateral held, are of weaker credit quality but have not
significantly deteriorated since origination.
IFRS 9 Stage 1 and Stage 2 classification is not dependent solely on the absolute probability of default but on elements that
determine a significant increase in credit risk, including relative movement in probability of default since initial recognition.
There is therefore no direct relationship between credit quality and IFRS 9 stage classification.
Credit risk profile by internal PD grade for retail mortgages (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
7
\u2014
\u2014
7
\u2014
\u2014
\u2014
\u2014
7
\u2014
9-11
0.30 to <0.60%
Strong
4,664
\u2014
\u2014
4,664
9
\u2014
\u2014
9
4,655
0.2
12-14
0.60 to <2.15%
Satisfactory
2
1
\u2014
3
\u2014
\u2014
\u2014
\u2014
3
\u2014
15-19
2.15 to <11.35%
Satisfactory
1
134
\u2014
135
\u2014
\u2014
\u2014
\u2014
135
\u2014
20-21
11.35 to <100%
Higher Risk
\u2014
1
\u2014
1
\u2014
\u2014
\u2014
\u2014
1
\u2014
22
100%
Credit Impaired
\u2014
\u2014
175
175
\u2014
\u2014
24
24
151
13.7
Total
4,674
136
175
4,985
9
\u2014
24
33
4,952
0.7
Credit risk profile by internal PD grade for retail credit cards3 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
1,216
37
\u2014
1,253
40
23
\u2014
63
1,190
5.0
4-5
0.05 to <0.15%
Strong
580
\u2014
\u2014
580
1
\u2014
\u2014
1
579
0.2
6-8
0.15 to <0.30%
Strong
1,468
\u2014
\u2014
1,468
3
\u2014
\u2014
3
1,465
0.2
9-11
0.30 to <0.60%
Strong
2,710
1
\u2014
2,711
12
\u2014
\u2014
12
2,699
0.4
12-14
0.60 to <2.15%
Satisfactory
6,091
42
\u2014
6,133
74
4
\u2014
78
6,055
1.3
15-19
2.15 to <11.35%
Satisfactory
6,414
1,099
\u2014
7,513
231
196
\u2014
427
7,086
5.7
20-21
11.35 to <100%
Higher Risk
322
1,357
\u2014
1,679
34
573
\u2014
607
1,072
36.2
22
100%
Credit Impaired
\u2014
\u2014
1,776
1,776
\u2014
\u2014
1,395
1,395
381
78.5
Total
18,801
2,536
1,776
23,113
395
796
1,395
2,586
20,527
11.2
Credit risk profile by internal PD grade for retail other (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
12
\u2014
\u2014
12
\u2014
\u2014
\u2014
\u2014
12
\u2014
6-8
0.15 to <0.30%
Strong
33
\u2014
\u2014
33
\u2014
\u2014
\u2014
\u2014
33
\u2014
9-11
0.30 to <0.60%
Strong
3,564
\u2014
\u2014
3,564
4
\u2014
\u2014
4
3,560
0.1
12-14
0.60 to <2.15%
Satisfactory
109
2
\u2014
111
2
\u2014
\u2014
2
109
1.8
15-19
2.15 to <11.35%
Satisfactory
69
249
\u2014
318
1
2
\u2014
3
315
0.9
20-21
11.35 to <100%
Higher Risk
1
14
\u2014
15
\u2014
3
\u2014
3
12
20.0
22
100%
Credit Impaired
\u2014
\u2014
107
107
\u2014
\u2014
20
20
87
18.7
Total
3,788
265
107
4,160
7
5
20
32
4,128
0.8
Credit risk profile by internal PD grade for corporate loans3 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
43,832
403
\u2014
44,235
4
5
\u2014
9
44,226
\u2014
4-5
0.05 to <0.15%
Strong
23,738
40
\u2014
23,778
6
\u2014
\u2014
6
23,772
\u2014
6-8
0.15 to <0.30%
Strong
13,854
394
\u2014
14,248
12
4
\u2014
16
14,232
0.1
9-11
0.30 to <0.60%
Strong
15,915
551
\u2014
16,466
27
1
\u2014
28
16,438
0.2
12-14
0.60 to <2.15%
Satisfactory
12,160
2,725
\u2014
14,885
47
30
\u2014
77
14,808
0.5
15-19
2.15 to <11.35%
Satisfactory
2,020
2,411
\u2014
4,431
40
70
\u2014
110
4,321
2.5
20-21
11.35 to <100%
Higher Risk
110
1,632
\u2014
1,742
5
125
\u2014
130
1,612
7.5
22
100%
Credit Impaired
\u2014
\u2014
2,360
2,360
\u2014
\u2014
590
590
1,770
25.0
Total
111,629
8,156
2,360
122,145
141
235
590
966
121,179
0.8
Credit risk profile by internal PD grade for loans and advances at amortised cost3 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
45,048
440
\u2014
45,488
44
28
\u2014
72
45,416
0.2
4-5
0.05 to <0.15%
Strong
24,330
40
\u2014
24,370
7
\u2014
\u2014
7
24,363
\u2014
6-8
0.15 to <0.30%
Strong
15,362
394
\u2014
15,756
15
4
\u2014
19
15,737
0.1
9-11
0.30 to <0.60%
Strong
26,853
552
\u2014
27,405
52
1
\u2014
53
27,352
0.2
12-14
0.60 to <2.15%
Satisfactory
18,362
2,770
\u2014
21,132
123
34
\u2014
157
20,975
0.7
15-19
2.15 to <11.35%
Satisfactory
8,504
3,893
\u2014
12,397
272
268
\u2014
540
11,857
4.4
20-21
11.35 to <100%
Higher Risk
433
3,004
\u2014
3,437
39
701
\u2014
740
2,697
21.5
22
100%
Credit Impaired
\u2014
\u2014
4,418
4,418
\u2014
\u2014
2,029
2,029
2,389
45.9
Total
138,892
11,093
4,418
154,403
552
1,036
2,029
3,617
150,786
2.3
Credit risk profile by internal PD grade for retail mortgages (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
4
\u2014
\u2014
4
\u2014
\u2014
\u2014
\u2014
4
\u2014
6-8
0.15 to <0.30%
Strong
2
\u2014
\u2014
2
\u2014
\u2014
\u2014
\u2014
2
\u2014
9-11
0.30 to <0.60%
Strong
4,526
\u2014
\u2014
4,526
8
\u2014
\u2014
8
4,518
0.2
12-14
0.60 to <2.15%
Satisfactory
4
1
\u2014
5
\u2014
\u2014
\u2014
\u2014
5
\u2014
15-19
2.15 to <11.35%
Satisfactory
1
148
\u2014
149
\u2014
1
\u2014
1
148
0.7
20-21
11.35 to <100%
Higher Risk
\u2014
1
\u2014
1
\u2014
\u2014
\u2014
\u2014
1
\u2014
22
100%
Credit Impaired
\u2014
\u2014
310
310
\u2014
\u2014
32
32
278
10.3
Total
4,537
150
310
4,997
8
1
32
41
4,956
0.8
Credit risk profile by internal PD grade for retail credit cards3 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
1
\u2014
\u2014
1
\u2014
\u2014
\u2014
\u2014
1
\u2014
4-5
0.05 to <0.15%
Strong
565
\u2014
\u2014
565
1
\u2014
\u2014
1
564
0.2
6-8
0.15 to <0.30%
Strong
2,562
2
\u2014
2,564
7
\u2014
\u2014
7
2,557
0.3
9-11
0.30 to <0.60%
Strong
4,384
4
\u2014
4,388
22
\u2014
\u2014
22
4,366
0.5
12-14
0.60 to <2.15%
Satisfactory
2,905
117
\u2014
3,022
37
9
\u2014
46
2,976
1.5
15-19
2.15 to <11.35%
Satisfactory
7,018
1,578
\u2014
8,596
242
267
\u2014
509
8,087
5.9
20-21
11.35 to <100%
Higher Risk
194
1,252
\u2014
1,446
25
531
\u2014
556
890
38.5
22
100%
Credit Impaired
\u2014
\u2014
1,724
1,724
\u2014
\u2014
1,416
1,416
308
82.1
Total
17,629
2,953
1,724
22,306
334
807
1,416
2,557
19,749
11.5
Credit risk profile by internal PD grade for retail other (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
6
\u2014
\u2014
6
\u2014
\u2014
\u2014
\u2014
6
\u2014
6-8
0.15 to <0.30%
Strong
17
\u2014
\u2014
17
\u2014
\u2014
\u2014
\u2014
17
\u2014
9-11
0.30 to <0.60%
Strong
3,199
\u2014
\u2014
3,199
5
\u2014
\u2014
5
3,194
0.2
12-14
0.60 to <2.15%
Satisfactory
65
1
\u2014
66
\u2014
\u2014
\u2014
\u2014
66
\u2014
15-19
2.15 to <11.35%
Satisfactory
41
396
\u2014
437
\u2014
\u2014
\u2014
\u2014
437
\u2014
20-21
11.35 to <100%
Higher Risk
1
7
\u2014
8
\u2014
1
\u2014
1
7
12.5
22
100%
Credit Impaired
\u2014
\u2014
216
216
\u2014
\u2014
25
25
191
11.6
Total
3,329
404
216
3,949
5
1
25
31
3,918
0.8
Credit risk profile by internal PD grade for corporate loans3 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
Grade
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
43,318
122
3
43,443
4
\u2014
2
6
43,437
\u2014
4-5
0.05 to <0.15%
Strong
21,947
145
\u2014
22,092
8
\u2014
\u2014
8
22,084
\u2014
6-8
0.15 to <0.30%
Strong
11,392
566
\u2014
11,958
8
2
\u2014
10
11,948
0.1
9-11
0.30 to <0.60%
Strong
15,549
326
\u2014
15,875
18
2
\u2014
20
15,855
0.1
12-14
0.60 to <2.15%
Satisfactory
12,017
2,988
\u2014
15,005
49
20
\u2014
69
14,936
0.5
15-19
2.15 to <11.35%
Satisfactory
2,854
2,243
\u2014
5,097
50
90
\u2014
140
4,957
2.7
20-21
11.35 to <100%
Higher Risk
117
1,757
\u2014
1,874
7
140
\u2014
147
1,727
7.8
22
100%
Credit Impaired
\u2014
\u2014
1,651
1,651
\u2014
\u2014
391
391
1,260
23.7
Total
107,194
8,147
1,654
116,995
144
254
393
791
116,204
0.7
Credit risk profile by internal PD grade for loans and advances at amortised cost3 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
Grade
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
43,319
122
3
43,444
4
\u2014
2
6
43,438
\u2014
4-5
0.05 to <0.15%
Strong
22,522
145
\u2014
22,667
9
\u2014
\u2014
9
22,658
\u2014
6-8
0.15 to <0.30%
Strong
13,973
568
\u2014
14,541
15
2
\u2014
17
14,524
0.1
9-11
0.30 to <0.60%
Strong
27,658
330
\u2014
27,988
53
2
\u2014
55
27,933
0.2
12-14
0.60 to <2.15%
Satisfactory
14,991
3,107
\u2014
18,098
86
29
\u2014
115
17,983
0.6
15-19
2.15 to <11.35%
Satisfactory
9,914
4,365
\u2014
14,279
292
358
\u2014
650
13,629
4.6
20-21
11.35 to <100%
Higher Risk
312
3,017
\u2014
3,329
32
672
\u2014
704
2,625
21.1
22
100%
Credit Impaired
\u2014
\u2014
3,901
3,901
\u2014
\u2014
1,864
1,864
2,037
47.8
Total
132,689
11,654
3,904
148,247
491
1,063
1,866
3,420
144,827
2.3
Credit risk profile by internal PD grade for contingent liabilities1 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
Grade
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
10,096
\u2014
\u2014
10,096
1
\u2014
\u2014
1
10,095
\u2014
4-5
0.05 to <0.15%
Strong
3,920
178
\u2014
4,098
2
\u2014
\u2014
2
4,096
\u2014
6-8
0.15 to <0.30%
Strong
3,645
5
\u2014
3,650
2
\u2014
\u2014
2
3,648
0.1
9-11
0.30 to <0.60%
Strong
2,025
92
\u2014
2,117
3
\u2014
\u2014
3
2,114
0.1
12-14
0.60 to <2.15%
Satisfactory
2,773
230
\u2014
3,003
12
3
\u2014
15
2,988
0.5
15-19
2.15 to <11.35%
Satisfactory
1,163
690
\u2014
1,853
15
16
\u2014
31
1,822
1.7
20-21
11.35 to <100%
Higher Risk
85
710
\u2014
795
1
83
\u2014
84
711
10.6
22
100%
Credit Impaired
\u2014
\u2014
116
116
\u2014
\u2014
23
23
93
19.8
Total
23,707
1,905
116
25,728
36
102
23
161
25,567
0.6
Credit risk profile by internal PD grade for contingent liabilities1 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
9,351
310
\u2014
9,661
1
1
\u2014
2
9,659
\u2014
4-5
0.05 to <0.15%
Strong
4,934
\u2014
\u2014
4,934
2
\u2014
\u2014
2
4,932
\u2014
6-8
0.15 to <0.30%
Strong
2,717
391
\u2014
3,108
2
\u2014
\u2014
2
3,106
0.1
9-11
0.30 to <0.60%
Strong
2,177
119
\u2014
2,296
4
\u2014
\u2014
4
2,292
0.2
12-14
0.60 to <2.15%
Satisfactory
2,309
563
\u2014
2,872
12
7
\u2014
19
2,853
0.7
15-19
2.15 to <11.35%
Satisfactory
730
937
\u2014
1,667
21
36
\u2014
57
1,610
3.4
20-21
11.35 to <100%
Higher Risk
29
515
\u2014
544
\u2014
82
\u2014
82
462
15.1
22
100%
Credit Impaired
\u2014
\u2014
495
495
\u2014
\u2014
16
16
479
3.2
Total
22,247
2,835
495
25,577
42
126
16
184
25,393
0.7
Credit risk profile by internal PD grade for loan commitments1,2 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to < 0.05%
Strong
90,723
204
\u2014
90,927
4
\u2014
\u2014
4
90,923
\u2014
4-5
0.05 to < 0.15%
Strong
75,414
776
\u2014
76,190
6
\u2014
\u2014
6
76,184
\u2014
6-8
0.15 to < 0.30%
Strong
50,189
656
\u2014
50,845
6
\u2014
\u2014
6
50,839
\u2014
9-11
0.30 to < 0.60%
Strong
49,560
494
\u2014
50,054
7
\u2014
\u2014
7
50,047
\u2014
12-14
0.60 to < 2.15%
Satisfactory
41,798
2,402
\u2014
44,200
34
27
\u2014
61
44,139
0.1
15-19
2.15 to < 11.35%
Satisfactory
12,874
4,418
\u2014
17,292
35
40
\u2014
75
17,217
0.4
20-21
11.35 to < 100%
Higher Risk
560
3,463
\u2014
4,023
3
65
\u2014
68
3,955
1.7
22
100%
Credit Impaired
\u2014
\u2014
565
565
\u2014
\u2014
10
10
555
1.8
Total
321,118
12,413
565
334,096
95
132
10
237
333,859
0.1
Credit risk profile by internal PD grade for loan commitments1,2 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to < 0.05%
Strong
86,137
320
\u2014
86,457
3
\u2014
\u2014
3
86,454
\u2014
4-5
0.05 to < 0.15%
Strong
68,407
93
\u2014
68,500
8
\u2014
\u2014
8
68,492
\u2014
6-8
0.15 to < 0.30%
Strong
56,893
951
\u2014
57,844
12
1
\u2014
13
57,831
\u2014
9-11
0.30 to < 0.60%
Strong
54,576
736
\u2014
55,312
19
1
\u2014
20
55,292
\u2014
12-14
0.60 to < 2.15%
Satisfactory
45,417
2,710
\u2014
48,127
31
11
\u2014
42
48,085
0.1
15-19
2.15 to < 11.35%
Satisfactory
11,878
5,779
\u2014
17,657
39
45
\u2014
84
17,573
0.5
20-21
11.35 to < 100%
Higher Risk
643
3,406
\u2014
4,049
1
56
\u2014
57
3,992
1.4
22
100%
Credit Impaired
\u2014
\u2014
481
481
\u2014
\u2014
9
9
472
1.9
Total
323,951
13,995
481
338,427
113
114
9
236
338,191
0.1
Notes
1Excludes loan commitments and financial guarantees carried at fair value of \u00a322.2 bn (2024: \u00a3 16.3bn) for Barclays Bank Group.
2Reported loan commitments also include exposures relating to financial assets classified as assets held for sale.
3Exposures reported within Retail credit card and Corporate loans does not include a co-branded card portfolio which is classified as assets held
for sale.
Loans and advances by product
Loans and advances to customers classified as assets held for sale (audited)
Stage 1
Stage 2
Stage 3
Total
Gross
ECL
Coverage
Gross
ECL
Coverage
Gross
ECL
Coverage
Gross
ECL
Coverage
As at 31 December 2025
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
%
Retail credit cards - US
5,468
65
1.2
466
124
26.6
54
44
81.5
5,988
233
3.9
Retail credit cards -
Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail other - Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans - US
43
1
2.3
6
2
33.3
\u2014
\u2014
\u2014
49
3
6.1
Total
5,511
66
1.2
472
126
26.7
54
44
81.5
6,037
236
3.9
As at 31 December 2024
Retail credit cards - US
5,495
64
1.2
689
161
23.4
57
46
80.7
6,241
271
4.3
Retail credit cards -
Germany
1,908
18
0.9
307
29
9.4
93
69
74.2
2,308
116
5.0
Retail other - Germany
1,134
16
1.4
220
33
15.0
71
48
67.6
1,425
97
6.8
Corporate loans - US
49
1
2.0
9
3
33.3
1
1
100.0
59
5
8.5
Total
8,586
99
1.2
1,225
226
18.4
222
164
73.9
10,033
489
4.9
Management adjustments to models for impairment (audited)
Management adjustments to models for impairment allowance presented by product (audited)
Barclays Bank Group
Impairment
allowance pre
management
adjustments
Economic
uncertainty
adjustments1
(a)
Other
adjustments
(b)
Management\u00a0
adjustments
(a+b)
Total
impairment
allowance
Proportion of
Management
adjustments to
total
impairment
allowance
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail credit cards - US
232
5
\u2014
5
237
2.1
Retail credit cards - Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail other - Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans - US
3
\u2014
\u2014
\u2014
3
\u2014
Total
235
5
\u2014
5
240
2.1
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail credit cards - US
277
\u2014
\u2014
\u2014
277
\u2014
Retail credit cards - Germany
101
\u2014
16
16
117
13.7
Retail other - Germany
80
\u2014
17
17
97
17.5
Corporate loans - US
5
\u2014
\u2014
\u2014
5
\u2014
Total
463
\u2014
33
33
496
6.7
Note
1 Reflects a Stage 2 adjustment for elevated US macroeconomic uncertainty; with impacts yet to materialise in consumer behaviour.
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - US (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
165
\u2014
\u2014
165
\u2014
\u2014
\u2014
\u2014
165
\u2014
6-8
0.15 to <0.30%
Strong
953
\u2014
\u2014
953
3
\u2014
\u2014
3
950
0.3
9-11
0.30 to <0.60%
Strong
1,351
1
\u2014
1,352
6
\u2014
\u2014
6
1,346
0.4
12-14
0.60 to <2.15%
Satisfactory
1,795
5
\u2014
1,800
18
\u2014
\u2014
18
1,782
1.0
15-19
2.15 to <11.35%
Satisfactory
1,149
226
\u2014
1,375
34
35
\u2014
69
1,306
5.0
20-21
11.35 to <100%
Higher Risk
55
234
\u2014
289
4
89
\u2014
93
196
32.2
22
100%
Credit Impaired
\u2014
\u2014
54
54
\u2014
\u2014
44
44
10
81.5
Total
5,468
466
54
5,988
65
124
44
233
5,755
3.9
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - Germany (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
15-19
2.15 to <11.35%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Credit risk profile by internal PD grade classified as assets held for sale for Retail other - Germany (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
15-19
2.15 to <11.35%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Credit risk profile by internal PD grade classified as assets held for sale for Corporate loans - US (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
2
\u2014
\u2014
2
\u2014
\u2014
\u2014
\u2014
2
\u2014
15-19
2.15 to <11.35%
Satisfactory
41
\u2014
\u2014
41
1
\u2014
\u2014
1
40
2.4
20-21
11.35 to <100%
Higher Risk
\u2014
6
\u2014
6
\u2014
2
\u2014
2
4
33.3
22
100%
Credit Impaired
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
43
6
\u2014
49
1
2
\u2014
3
46
6.1
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - US (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
5,495
\u2014
\u2014
5,495
64
\u2014
\u2014
64
5,431
1.2
15-19
2.15 to <11.35%
Satisfactory
\u2014
689
\u2014
689
\u2014
161
\u2014
161
528
23.4
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
57
57
\u2014
\u2014
46
46
11
80.7
Total
5,495
689
57
6,241
64
161
46
271
5,970
4.3
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - Germany (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
62
\u2014
\u2014
62
\u2014
\u2014
\u2014
\u2014
62
\u2014
4-5
0.05 to <0.15%
Strong
289
\u2014
\u2014
289
1
\u2014
\u2014
1
288
0.3
6-8
0.15 to <0.30%
Strong
152
\u2014
\u2014
152
1
\u2014
\u2014
1
151
0.7
9-11
0.30 to <0.60%
Strong
250
\u2014
\u2014
250
1
\u2014
\u2014
1
249
0.4
12-14
0.60 to <2.15%
Satisfactory
928
5
\u2014
933
9
\u2014
\u2014
9
924
1.0
15-19
2.15 to <11.35%
Satisfactory
227
229
\u2014
456
6
15
\u2014
21
435
4.6
20-21
11.35 to <100%
Higher Risk
\u2014
73
\u2014
73
\u2014
14
\u2014
14
59
19.2
22
100%
Credit Impaired
\u2014
\u2014
93
93
\u2014
\u2014
69
69
24
74.2
Total
1,908
307
93
2,308
18
29
69
116
2,192
5.0
Credit risk profile by internal PD grade classified as assets held for sale for Retail other - Germany (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
1
\u2014
\u2014
1
\u2014
\u2014
\u2014
\u2014
1
\u2014
4-5
0.05 to <0.15%
Strong
25
\u2014
\u2014
25
\u2014
\u2014
\u2014
\u2014
25
\u2014
6-8
0.15 to <0.30%
Strong
110
\u2014
\u2014
110
\u2014
\u2014
\u2014
\u2014
110
\u2014
9-11
0.30 to <0.60%
Strong
294
\u2014
\u2014
294
1
\u2014
\u2014
1
293
0.3
12-14
0.60 to <2.15%
Satisfactory
534
17
\u2014
551
6
4
\u2014
10
541
1.8
15-19
2.15 to <11.35%
Satisfactory
170
182
\u2014
352
9
22
\u2014
31
321
8.8
20-21
11.35 to <100%
Higher Risk
\u2014
21
\u2014
21
\u2014
7
\u2014
7
14
33.3
22
100%
Credit Impaired
\u2014
\u2014
71
71
\u2014
\u2014
48
48
23
67.6
Total
1,134
220
71
1,425
16
33
48
97
1,328
6.8
Credit risk profile by internal PD grade classified as assets held for sale for Corporate loans - US (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
49
\u2014
\u2014
49
1
\u2014
\u2014
1
48
2.0
15-19
2.15 to <11.35%
Satisfactory
\u2014
9
\u2014
9
\u2014
3
\u2014
3
6
33.3
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
1
1
\u2014
\u2014
1
1
\u2014
100.0
Total
49
9
1
59
1
3
1
5
54
8.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-6": { "value": "
Market risk management (audited)
The risk of loss arising from potential adverse changes in the value of the Barclays Bank Group\u2019s assets and liabilities from
fluctuation in market variables including, but not limited to, interest rates, foreign exchange, equity prices, commodity
prices, credit spreads, implied volatilities and asset correlations.
Overview
Market risk arises primarily as a result of client facilitation in wholesale markets, involving market making activities, risk
management solutions and execution of syndications. Upon execution of a trade with a client, the Barclays Bank Group will
look to hedge against the risk of the trade moving in an adverse direction. Mismatches between client transactions and
hedges result in market risk due to changes in asset prices, volatility or correlations.
Organisation, roles and responsibilities
Market risk in the businesses resides primarily in IB and Treasury. These businesses have the mandate to assume market
risk. The front office and Treasury trading desks are responsible for managing market risk on a day-to-day basis, where they
are required to understand and adhere to all limits applicable to their businesses. The Market Risk team supports the trading
desks with the day-to-day limit management of market risk exposures through governance processes which are outlined in
supporting market risk policies and standards.
Market risk oversight and challenge is provided by business committees and Barclays Group committees, including the
Market Risk Committee (MRC).
The objectives of market risk management are to:
\u25aa identify, understand and control market risk by robust measurement, limit setting, reporting and oversight
\u25aa facilitate business growth within a controlled and transparent risk management framework
\u25aa control market risk in the businesses according to the allocated appetite.
To meet the above objectives, a governance structure is in place to manage these risks consistent with the ERMF.
The Barclays Bank PLC Board Risk Committee recommends market risk appetite to the Barclays Bank PLC Board for their
approval, within the parameters set by the Barclays PLC Board.
The Market Risk Committee (MRC) reviews and makes recommendations concerning the Barclays Group-wide market risk
profile. This includes overseeing the operation of the Market Risk Framework and associated policies and standards,
monitoring market and regulatory changes, and reviewing limit utilisation levels. The committee is chaired by the Market
Risk Principal Risk Lead and attendees include the business heads of market risk and business aligned market risk managers.
In addition to MRC, the Investment Bank Risk Committee (IBRC) is the main forum in which market risk exposures are
discussed and reviewed with senior business heads. The Committee is chaired by the BBPLC CRO and meets weekly,
covering current market events, notable market risk exposures, and key risk topics. New business initiatives are generally
socialised at IBRC before any changes to risk appetite or associated limits are considered in other governance committees.
Management value at risk (VaR)
VaR is an estimate of the potential loss arising from unfavourable market movements if the current positions were to be held
unchanged for one business day. For internal market risk management purposes, a historical simulation methodology with a
one-year equally weighted historical period, at the 95% confidence level is used for all trading books and some banking
books.
Limits are applied at the total level as well as by risk factor type, which are then cascaded down to particular trading desks
and businesses by the market risk management function.
See pages 218 to 219 for a review of management VaR.
Interest rate risk in the banking book management (IRRBB)
Overview
Interest rate risk in the banking book is driven by counterparties deposit taking and lending activities, investments in the
liquid asset portfolio and funding activities. As per the Barclays Bank Group\u2019s policy to remain within the defined risk
appetite, hedging strategies are executed to mitigate the various IRRBB risks that result from these activities. However, the
Barclays Bank Group remains susceptible to interest rate risk and other non-traded market risks from the following key
sources:
\u25aa Interest rate and repricing risk: the risk that net interest income could be adversely impacted by a change in interest rates,
differences in the timing of interest rate changes between assets and liabilities, and other constraints on interest rate
changes as per product terms and conditions.
\u25aa Counterparty behavioural risk: the risk that net interest income could be adversely impacted by the discretion that
counterparties may have in respect of being able to vary from their contractual obligations with the Barclays Bank Group.
This risk is often referred to by industry regulators as \u2018embedded option risk\u2019.
\u25aa Investment risks in the liquid asset portfolio: the risk that the fair value of assets held in the liquid asset portfolio and
associated risk management portfolios could be adversely impacted by market volatility, creating volatility in capital
directly.
Organisation, roles and responsibilities
The Barclays Bank PLC Treasury Committee and the Barclays Group Treasury Committee are responsible for monitoring and
managing IRRBB risk in line with the Barclays Bank Group\u2019s management objectives and risk frameworks. The BRC and
Treasury and Capital Risk Committee monitors and reviews the IRRBB risk profile and control environment, providing second
line oversight of the management of IRRBB. The BRC reviews the interest rate risk profile, including review of the risk
appetite at least annually and the impact of stress scenarios on the interest rate risk of the Barclays Bank PLC\u2019s banking
books.
In addition, the Barclays Bank Group\u2019s IRRBB policy sets out the processes and key controls required to identify all IRRBB
risks arising from banking book operations, to monitor the risk exposures via a set of metrics with a frequency in line with
the risk management horizon, and to manage these risks within agreed risk appetite and limits.
The daily average, high and low values of management VaR
Management VaR (95%, one day) (audited)
2025
2024
For the year ended 31 December
2025
Average
High
Low
Average
High
Low
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Credit risk
15
21
11
21
27
17
Interest rate risk
15
25
5
15
25
6
Equity risk
7
14
4
6
12
2
Basis risk
6
9
4
5
8
4
Spread risk
5
7
3
5
7
3
Foreign exchange risk
4
7
2
4
9
2
Commodity risk
\u2014
1
\u2014
\u2014
1
\u2014
Inflation risk
5
8
3
4
5
2
Diversification effect 1
(39)
n/a
n/a
(34)
n/a
n/a
Total management VaR
18
31
9
26
36
15
Note
1Diversification effects recognise that forecast losses from different assets or businesses are unlikely to occur concurrently, hence the expected
aggregate loss is lower than the sum of the expected losses from each area. Historical correlations between losses are taken into account in
making these assessments. The high and low VaR figures reported for each category did not necessarily occur on the same day as the high and
low VaR reported as a whole. Consequently, a diversification effect balance for the high and low VaR figures would not be meaningful and is
therefore omitted from the above table.
Foreign exchange risk (audited)
The Barclays Bank Group is exposed to two sources of foreign exchange risk.
Transactional foreign currency exposure
Transactional foreign currency exposures represent exposures on banking assets and liabilities, denominated in currencies
other than the functional currency of the transacting entity.
The Barclays Bank Group\u2019s risk management policies are designed to prevent the holding of significant open positions in
foreign currencies outside the trading portfolio which is monitored through VaR.
Banking book transactional foreign exchange risk is monitored on a daily basis by the market risk function and minimised by
the businesses.
Translational foreign exchange exposure
The Barclays Bank Group's investments in overseas subsidiaries and branches create capital resources denominated in
foreign currencies, principally USD and EUR. Changes in the GBP value of the net investments due to foreign currency
movements are captured in the currency translation reserve, resulting in a movement in shareholders\u2019 equity.
Functional currency of operations (audited)
Foreign
currency net
investments
Borrowings
which hedge
the net
investments
Derivatives
which hedge
the net
investments
Structural
currency
exposures
pre- economic
hedges
Other Equity
instruments
Remaining
structural
currency
exposures
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
USD
25,531
(2,914)
(2,141)
20,476
(5,450)
15,026
EUR
10,195
(3,018)
\u2014
7,177
(1,310)
5,867
INR
1,486
\u2014
(1,260)
226
\u2014
226
JPY
544
(177)
\u2014
367
\u2014
367
Other
2,007
\u2014
(918)
1,089
(1,127)
(38)
Total
39,763
(6,109)
(4,319)
29,335
(7,887)
21,448
As at 31 December 2024
USD
27,742
(4,644)
(2,229)
20,868
(5,846)
15,023
EUR
9,559
(2,729)
\u2014
6,830
(265)
6,565
INR
1,400
\u2014
(992)
408
\u2014
408
JPY
628
(215)
\u2014
413
\u2014
413
Other
2,037
\u2014
(792)
1,245
(849)
396
Total
41,366
(7,588)
(4,013)
29,764
(6,960)
22,805
Other equity instruments relate to exposures arising on foreign currency denominated preference share and AT1
instruments. These instruments are accounted for at historical cost under IFRS and do not qualify as hedges for accounting
purposes. The gain or loss arising from changes in the GBP value of these instruments is recognised on redemption in
retained earnings.
During 2025, total structural currency exposure net of hedging instruments decreased by \u00a31.4b n to \u00a321.4b n (2024:
\u00a322.8bn). Foreign currency net\u00a0investments decreased by \u00a31.6b n to \u00a339.8bn (2024 : \u00a341.4bn) driven predominantly by a
\u00a32.2bn decrease in US dollars offset by \u00a30.6bn increase in Euro. The hedges associated with these foreign currency
investments decreased by \u00a31.2bn to \u00a310.4bn (2024: \u00a311.6b n).
Net interest income sensitivity
The table below shows a sensitivity analysis on pre-tax net interest income for non-traded financial assets and liabilities,
including the effect of any hedging. This analysis is not a forward guidance on NII and is intended as a quantification of risk
exposure utilising the Net Interest Income (NII) metric as described on page 179 of the Barclays PLC Pillar 3 Report 2025
(unaudited), which includes documentation of the main model assumptions.
Net Interest Income sensitivity (AEaR) by currency (audited)
2025
2024
+25 basis
points
-25 basis
points
+25 basis
points
-25 basis
points
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
GBP
4
(6)
27
(28)
USD
(41)
41
(29)
29
EUR
(5)
4
(6)
6
Other currencies
9
(8)
(3)
3
Total
(33)
31
(11)
10
Analysis of equity sensitivity
The analysis of equity sensitivity table measures the overall impact of a +/- 25bps movement in interest rates on retained
earnings, FVOCI, cash flow hedge reserves and pensions. For non-NII items a DV01 metric is used, which is an indicator of
the shift in value for a 1bp movement in the yield curve.
Analysis of equity sensitivity (audited)
31 December 2025
31 December 2024
+25 basis
points
-25 basis
points
+25 basis
points
-25 basis
points
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Net interest income
(33)
31
(11)
10
Taxation effects on the above
8
(8)
2
(2)
Effect on profit for the year
(25)
23
(9)
8
As percentage of net profit after tax
(0.5%)
0.5%
(0.2%)
0.2%
Effect on profit for the year (per above)
(25)
23
(9)
8
Fair value through other comprehensive income reserve
(186)
193
(193)
200
Cash flow hedge reserve
(823)
823
(588)
588
Taxation effects on the above
283
(284)
219
(221)
Effect on equity
(751)
755
(571)
575
As percentage of equity
(1.2%)
1.2%
(1.0%)
1.0%
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-7": { "value": "
Liquidity risk management (audited)
Overview
The efficient management of liquidity is essential to the Barclays Bank Group in order to retain the confidence of the
financial markets and maintain the sustainability of the business. Treasury and Capital Risk have created a framework to
manage all liquidity risk exposures under both normal and stressed conditions. The framework is designed to maintain
liquidity resources that are sufficient in amount, quality and funding tenor profile to remain within the liquidity limits set by
the Barclays Bank PLC Board. The Board sets liquidity limits on both internal and regulatory liquidity metrics.
Organisation, roles and responsibilities
Treasury has the primary responsibility for managing liquidity risk within the set risk appetite. Both Risk and Treasury
contribute to the production of the Internal Liquidity Adequacy Assessment Process (ILAAP). The Treasury and Capital Risk
function is responsible for the management and governance of the liquidity risk mandate, as defined by the Barclays Bank
PLC Board.
The liquidity risk management framework established by Treasury and Capital Risk is designed to deliver the appropriate
term and structure of funding, consistent with the risk appetite set by the Barclays Bank PLC Board. The framework
incorporates a range of ongoing business management tools to monitor and stress test Barclays Bank PLC's balance sheet
and recovery plan, including limit setting. Limit setting and transfer pricing are tools that are designed to control the level of
liquidity risk taken and drive the appropriate mix of funds. Adherence to limits reduces the likelihood that a liquidity stress
event could lead to an inability to meet the Barclays Bank Group\u2019s obligations as they fall due.
The Barclays Bank PLC Board approves the Barclays Bank PLC funding plan, internal stress tests, regulatory stress tests,
recovery plan and liquidity risk qualitative statement that supports risk appetite. Barclays Bank PLC\u2019s Treasury Committee is
responsible for monitoring and managing liquidity risk in line with Barclays Bank PLC\u2019s funding management objectives,
funding plan and risk appetite. The Barclays Group Treasury and Capital Risk Committee monitors and reviews the liquidity
risk profile and control environment, providing second line oversight of the management of liquidity risk. The Barclays Bank
PLC Board Risk Committee reviews the risk profile, liquidity risk qualitative statement, and the impact of stress scenarios on
Barclays Bank PLC\u2019s funding plan/forecast in order to agree Barclays Bank PLC\u2019s projected funding abilities. The Barclays
Bank PLC Board Risk Committee also approves liquidity limits to define Barclays Bank PLC's risk appetite liquidity constraint.
The table below provides detail on the contractual maturity of all financial instruments and other assets and liabilities.
Derivatives (other than those designated in a hedging relationship) and trading portfolio assets and liabilities are included in
the \u2018not more than one month\u2019 column at their fair value. Liquidity risk on these items is not managed on the basis of
contractual maturity since these items are not held for settlement according to such maturity and will frequently be settled
before contractual maturity at fair value. Derivatives designated in a hedging relationship are included according to their
contractual maturity.
Open-dated financial assets and liabilities are included within 'not more than one month' due to the availability of
withdrawals or redemptions at any time, without notice.
Contractual maturity of financial assets and liabilities (audited)
Barclays Bank Group
Not more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six
months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five
years
Total
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Assets
Cash and balances at central banks
208,544
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
208,544
Cash collateral and settlement balances
81,419
43,100
\u2014
\u2014
\u2014
\u2014
\u2014
124,519
Debt Securities at amortised cost
390
5,136
1,776
2,845
15,124
13,303
16,579
55,153
Loans and advances at amortised cost to
banks and customers
21,922
5,264
6,166
17,893
47,981
26,901
24,659
150,786
Reverse repurchase agreements and other
similar secured lending
10,866
338
520
406
1,971
2,816
745
17,662
Trading portfolio assets
189,743
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
189,743
Financial assets at fair value through the
income statement
145,326
13,635
4,503
4,130
10,756
3,639
3,013
185,002
Derivative financial instruments
250,286
144
201
227
959
302
73
252,192
Financial assets at fair value through other
comprehensive income
1,357
1,303
133
277
3,527
11,748
24,473
42,818
Assets included in disposal groups classified
as held for sale
\u2014
\u2014
5,932
\u2014
\u2014
\u2014
\u2014
5,932
Other financial assets
379
41
198
1
5
\u2014
\u2014
624
Total financial assets
910,232
68,961
19,429
25,779
80,323
58,709
69,542
1,232,975
Other assets
12,498
Total assets
1,245,473
Liabilities
Deposits at amortised cost from bank and
customers
255,232
35,395
31,417
18,639
3,204
543
321
344,751
Cash collateral and settlement balances
84,062
32,749
\u2014
\u2014
\u2014
\u2014
\u2014
116,811
Repurchase agreements and other similar
secured borrowing
8,790
4,507
321
626
4,407
\u2014
\u2014
18,651
Debt securities in issue
2,387
10,732
22,206
13,052
2,063
2,263
4,526
57,229
Subordinated liabilities
1,356
\u2014
1,015
400
12,266
8,265
21,937
45,239
Trading portfolio liabilities
56,829
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
56,829
Financial liabilities designated at fair value
161,887
30,221
16,489
14,172
31,398
19,691
19,669
293,527
Derivative financial instruments
240,179
22
53
13
206
83
201
240,757
Liabilities included in disposal groups
classified as held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Other financial liabilities
4,283
3
9
19
76
55
453
4,898
Total financial liabilities
815,005
113,629
71,510
46,921
53,620
30,900
47,107
1,178,692
Other liabilities
4,468
Total liabilities
1,183,160
Contractual maturity of financial assets and liabilities (audited)
Barclays Bank Group
Not more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six
months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five
years
Total
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Assets
Cash and balances at central banks
180,365
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
180,365
Cash collateral and settlement balances
76,805
37,182
\u2014
\u2014
\u2014
\u2014
\u2014
113,987
Debt securities at amortised cost
233
352
1,710
1,194
15,393
11,921
19,424
50,227
Loans and advances at amortised cost to
banks and customers
22,523
5,207
7,067
16,544
45,701
22,641
25,144
144,827
Reverse repurchase agreements and other
similar secured lending
299
37
292
110
1,675
980
\u2014
3,393
Trading portfolio assets
166,244
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
166,244
Financial assets at fair value through the
income statement
152,022
11,628
4,467
4,471
10,082
6,099
3,076
191,845
Derivative financial instruments
291,580
19
333
\u2014
268
23
133
292,356
Financial assets at fair value through other
comprehensive income
1,421
1,002
110
233
5,747
12,147
30,350
51,010
Assets included in disposal groups classified
as held for sale
\u2014
3,710
\u2014
\u2014
6,144
\u2014
\u2014
9,854
Other financial assets
499
22
126
17
1
\u2014
\u2014
665
Total financial assets
891,991
59,159
14,105
22,569
85,011
53,811
78,127
1,204,773
Other assets
13,751
Total assets
1,218,524
Liabilities
Deposits at amortised cost from banks and
customers
240,546
33,576
27,124
12,752
3,481
1,296
601
319,376
Cash collateral and settlement balances
75,019
29,608
\u2014
\u2014
\u2014
\u2014
\u2014
104,627
Repurchase agreements and other similar
secured borrowing
18,522
1,823
84
3,931
3,702
1,335
\u2014
29,397
Debt securities in issue
2,912
15,264
5,859
3,469
713
2,164
5,422
35,803
Subordinated liabilities
\u2014
818
75
80
11,431
6,444
23,027
41,875
Trading portfolio liabilities
56,182
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
56,182
Financial liabilities designated at fair value
156,917
23,502
16,742
15,331
28,332
19,087
19,866
279,777
Derivative financial instruments
278,657
27
18
\u2014
185
255
189
279,331
Liabilities included in disposal groups
classified as held for sale
\u2014
3,726
\u2014
\u2014
\u2014
\u2014
\u2014
3,726
Other financial liabilities
4,333
4
9
19
71
40
392
4,868
Total financial liabilities
833,088
108,348
49,911
35,582
47,915
30,621
49,497
1,154,962
Other liabilities
4,342
Total liabilities
1,159,304
Contractual maturity of financial liabilities on an undiscounted basis
The following table presents the cash flows payable by the Barclays Bank Group under financial liabilities by remaining
contractual maturities at the balance sheet date. The amounts disclosed in the table are the contractual undiscounted cash
flows of all financial liabilities (i.e. nominal values).
The balances in the below table do not agree directly to the balances in the consolidated balance sheet as the table
incorporates all cash flows, on an undiscounted basis, related to both principal as well as those associated with all future
coupon payments.
Derivative financial instruments held for trading and trading portfolio liabilities are included in the 'not more than one month'
column at their fair value. Open-dated financial liabilities are also included within 'not more than one month'.
Contractual maturity of financial liabilities - undiscounted (audited)
Not\u00a0 more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six
months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five
years
Total
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Deposits at amortised cost from banks and
customers
255,034
35,765
31,757
19,049
3,422
614
579
346,220
Cash collateral and settlement balances
84,076
32,910
\u2014
\u2014
\u2014
\u2014
295
117,281
Repurchase agreements and other similar
secured borrowing
8,801
4,520
322
637
4,562
\u2014
\u2014
18,842
Debt securities in issue
2,393
10,789
22,489
13,366
2,243
2,573
7,618
61,471
Subordinated liabilities
1,358
\u2014
1,025
418
12,727
9,210
33,626
58,364
Trading portfolio liabilities
56,829
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
56,829
Financial liabilities designated at fair value
161,975
30,387
16,677
14,449
32,838
21,670
32,683
310,679
Derivative financial instruments
240,179
23
54
13
223
94
398
240,984
Liabilities included in disposal groups
classified as held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Other financial liabilities
4,284
8
16
35
134
108
3,513
8,098
Total financial liabilities
814,929
114,402
72,340
47,967
56,149
34,269
78,712
1,218,768
As at 31 December 2024
Deposits at amortised cost from banks and
customers
240,695
33,769
27,410
13,059
3,687
1,531
762
320,913
Cash collateral and settlement balances
75,021
29,780
\u2014
\u2014
\u2014
\u2014
\u2014
104,801
Repurchase agreements and other similar
secured borrowing
18,542
1,832
84
4,065
3,892
1,508
\u2014
29,923
Debt securities in issue
2,920
15,360
5,930
3,579
745
2,558
8,714
39,806
Subordinated liabilities
\u2014
824
75
80
11,955
7,036
34,922
54,892
Trading portfolio liabilities
56,182
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
56,182
Financial liabilities designated at fair value
157,090
23,676
16,971
15,713
30,014
21,471
34,087
299,022
Derivative financial instruments
278,662
27
18
\u2014
197
298
402
279,604
Liabilities included in disposal groups
classified as held for sale
\u2014
3,726
\u2014
\u2014
\u2014
\u2014
\u2014
3,726
Other financial liabilities
4,335
10
18
35
127
86
3,680
8,291
Total financial liabilities
833,447
109,004
50,506
36,531
50,617
34,488
82,567
1,197,160
Maturity of off-balance sheet commitments given
The table below presents the maturity split of the Barclays Bank Group\u2019s off-balance sheet commitments given at the
balance sheet date. The amounts disclosed in the table are the undiscounted cash flows (i.e. nominal values) on the basis of
earliest opportunity at which they are available.
Maturity analysis of off-balance sheet commitments given (audited)
Not more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five\u00a0
years
Total
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Contingent liabilities and financial
guarantees
26,631
\u2014
1
1
\u2014
\u2014
\u2014
26,633
Documentary credits and other short-term
trade related transactions
1,103
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1,103
Standby facilities, credit lines and other
commitments1
354,202
\u2014
\u2014
\u2014
63
17
3
354,285
Total off-balance sheet commitments
given
381,936
\u2014
1
1
63
17
3
382,021
As at 31 December 2024
Contingent liabilities and financial
guarantees
26,541
22
1
1
\u2014
\u2014
\u2014
26,565
Documentary credits and other short-term
trade related transactions
1,432
1
\u2014
\u2014
\u2014
\u2014
\u2014
1,433
Standby facilities, credit lines and other
commitments1
352,276
\u2014
\u2014
\u2014
68
\u2014
\u2014
352,344
Total off-balance sheet commitments
given
380,249
23
1
1
68
\u2014
\u2014
380,342
Note
1. Includes exposures relating to financial assets classified as assets held for sale.", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-8": { "value": "
Capital risk management (audited)
Overview
Capital risk is managed through ongoing monitoring and management of the capital and leverage position, regular stress
testing and a robust capital governance framework. The objectives of the framework are to maintain adequate capital for the
Barclays Bank Group and its legal entities to withstand the impact of the risks that may arise under normal and stressed
conditions, and maintain adequate capital to cover current and forecast business needs and associated risks to provide a
viable and sustainable business offering. The Barclays Bank Group aims to prudently manage its overall leverage position
(including risk of excessive leverage) by utilising plausible stress scenarios, reviewing and deploying management actions in
response to deteriorating economic and commercial positions. In order to manage contingent leverage risk, the Barclays
Bank Group considers the context from which the business consumption arises, the impact of client utilisation on leverage
and the available actions to manage.
Organisation, roles and responsibilities
Treasury has the primary responsibility for managing and monitoring capital adequacy. The Barclays Bank Group Treasury
and Capital Risk function provides oversight of capital risk. Production of the Barclays Bank PLC Internal Capital Adequacy
Assessment Process (ICAAP) is the responsibility of Treasury.
Capital risk management is underpinned by a control framework and policy. The capital management strategy, outlined in
the relevant legal entity capital plans, is developed in alignment with the control framework and policy for capital risk, and is
implemented consistently in order to deliver on the Barclays Bank Group\u2019s objectives, which are aligned to those of the
Barclays Group.
The Barclays Bank PLC Board approves the Barclays Bank PLC capital plan, internal stress tests and results of regulatory
stress tests and those of the relevant Barclays Bank Group entities. The Barclays PLC Board also approves the Barclays Group
recovery plan which takes into account management actions identified at the Barclays Bank Group level. The Barclays Bank
PLC Treasury Committee and the Barclays Group Treasury Committee are responsible for monitoring and managing capital
risk in line with Barclays Bank Group\u2019s capital management objectives, capital plan and risk frameworks. The Treasury and
Capital Risk Committee (TCRC) monitors and reviews the capital risk profile and control environment, providing second line
oversight of the management of capital risk.
For the relevant Barclays Bank Group subsidiaries, local management assures compliance with an entity\u2019s minimum
regulatory capital requirements by reporting to local Asset and Liability Committees (or equivalents) with oversight by the
Barclays Bank PLC Treasury Committee and the Barclays Group Treasury Committee, as required. In 2025, Barclays complied
with all regulatory minimum capital requirements. Contingent leverage risk is managed by; i) setting comprehensive
leverage (and RWA) targets for each business as part of the Treasury capital management process, taking into account
adherence to early warning indicators and maintain a healthy leverage ratio, and; ii) Monitoring execution of actions taken to
course-correct as necessary.
The Barclays Bank Group maintains a number of defined benefit pension schemes for past and current employees. The
ability of schemes to meet pension payments is achieved with investments and contributions.
Pension risk arises because the market value of pension fund assets might decline; investment returns might reduce; or the
estimated value of pension liabilities might increase. The Barclays Bank Group monitors the pension risks arising from its
defined benefit pension schemes and works with the relevant pension fund\u2019s trustees to address shortfalls. In these
circumstances the Barclays Bank Group could be required or might choose to make extra contributions to the pension fund.
The Barclays Bank Group\u2019s main defined benefit scheme was closed to new entrants in 2012.
Capital resources
2025
2024
As at 31 December
\u00a3m
\u00a3m
CET1 capital
28,177
26,995
T1 capital
35,848
33,787
Total regulatory capital
42,129
40,444
Total risk weighted assets (RWAs) (unaudited)
222,247
223,648
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-9": { "value": "
Movement in gross exposures and impairment allowance including provisions for loan commitments and financial
guarantees (audited)
The following tables present a reconciliation of the opening to the closing balance of the gross exposure and impairment
allowance.
Transfers between stages in the tables have been reflected as if they had taken place at the beginning of the year. 'Net
drawdowns, repayments, net re-measurement and movements due to exposure and risk parameter changes' includes
additional drawdowns and partial repayments from existing facilities. Additionally, the below tables do not include other
financial assets subject to impairment such as debt securities at amortised cost, reverse repurchase agreements and other
similar secured lending, cash collateral and settlement balances, financial assets at fair value through other comprehensive
income and other assets.
The movements are measured over a 12-month period.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2025
4,537
8
150
1
310
32
4,997
41
Transfers from Stage 1 to Stage 2
(92)
\u2014
92
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
80
\u2014
(80)
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(27)
\u2014
(15)
\u2014
42
\u2014
\u2014
\u2014
Transfers from Stage 3
59
2
2
\u2014
(61)
(2)
\u2014
\u2014
Business activity in the year
635
1
\u2014
\u2014
\u2014
\u2014
635
1
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
135
(1)
2
\u2014
(19)
8
118
7
Final repayments
(653)
(1)
(14)
\u2014
(80)
(1)
(747)
(2)
Disposals1
\u2014
\u2014
(1)
(1)
(9)
(5)
(10)
(6)
Write-offs
\u2014
\u2014
\u2014
\u2014
(8)
(8)
(8)
(8)
As at 31\u00a0December 2025
4,674
9
136
\u2014
175
24
4,985
33
Retail credit cards
As at 1 January 2025
17,629
334
2,953
807
1,724
1,416
22,306
2,557
Transfers from Stage 1 to Stage 2
(1,047)
(35)
1,047
35
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
1,208
268
(1,208)
(268)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(515)
(20)
(731)
(286)
1,246
306
\u2014
\u2014
Transfers from Stage 3
12
9
5
4
(17)
(13)
\u2014
\u2014
Business activity in the year2
2,575
75
237
87
60
40
2,872
202
Refinements to models used for calculation3
\u2014
68
\u2014
(81)
\u2014
1
\u2014
(12)
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
(980)
(299)
262
508
(45)
793
(763)
1,002
Final repayments
(81)
(5)
(29)
(10)
(32)
(26)
(142)
(41)
Disposals1
\u2014
\u2014
\u2014
\u2014
(308)
(270)
(308)
(270)
Write-offs
\u2014
\u2014
\u2014
\u2014
(852)
(852)
(852)
(852)
As at 31\u00a0December 2025
18,801
395
2,536
796
1,776
1,395
23,113
2,586
Retail other
As at 1 January 2025
3,329
5
404
1
216
25
3,949
31
Transfers from Stage 1 to Stage 2
(107)
\u2014
107
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
80
\u2014
(80)
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(75)
\u2014
(35)
\u2014
110
\u2014
\u2014
\u2014
Transfers from Stage 3
56
1
\u2014
\u2014
(56)
(1)
\u2014
\u2014
Business activity in the year
1,155
\u2014
24
\u2014
\u2014
\u2014
1,179
\u2014
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to exposure
and risk parameter changes
1,176
4
158
4
23
8
1,357
16
Final repayments
(1,826)
(3)
(313)
\u2014
(179)
(5)
(2,318)
(8)
Disposals
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Write-offs
\u2014
\u2014
\u2014
\u2014
(7)
(7)
(7)
(7)
As at 31\u00a0December 2025
3,788
7
265
5
107
20
4,160
32
Notes
1 The \u00a310m of gross disposals reported within Retail mortgages relate to sale of the Italian mortgage portfolio. The \u00a3308m of gross disposals
reported within Retail credit cards relate to debt sales undertaken during the year.
2 Business activity in the year reported within Retail credit cards includes \u00a31.2bn related to acquisition of the GM co-branded card portfolio within
USCB.
3 Refinements to models used for calculation reported within Retail credit cards include a \u00a3(12)m movement in the calculated ECL for the US Cards
portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to determine
accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over an
extended period of time. This helps to ensure that the models used continue to reflect the risks inherent in the businesses.
\u00a0 \u00a0 \u00a0
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Corporate loans
As at 1 January 2025
107,194
144
8,147
254
1,654
393
116,995
791
Transfers from Stage 1 to Stage 2
(2,685)
(11)
2,685
11
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
2,417
46
(2,417)
(46)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(692)
(4)
(505)
(28)
1,197
32
\u2014
\u2014
Transfers from Stage 3
146
2
125
1
(271)
(3)
\u2014
\u2014
Business activity in the year1
28,266
40
976
37
225
19
29,467
96
Refinements to models used for calculation2
\u2014
(65)
\u2014
(24)
\u2014
\u2014
\u2014
(89)
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
4,088
14
842
81
(50)
405
4,880
500
Final repayments
(27,104)
(24)
(1,695)
(49)
(40)
(1)
(28,839)
(74)
Disposals3
(1)
(1)
(2)
(2)
(121)
(21)
(124)
(24)
Write-offs
\u2014
\u2014
\u2014
\u2014
(234)
(234)
(234)
(234)
As at 31\u00a0December 2025
111,629
141
8,156
235
2,360
590
122,145
966
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Reconciliation of ECL movement to credit impairment charge/(release) for the period
Stage 1
Stage 2
Stage 3
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
1
\u2014
5
6
Retail credit cards
61
(11)
1,101
1,151
Retail other
2
4
2
8
Corporate loans
(2)
(17)
452
433
ECL movement excluding disposals and write-offs4
62
(24)
1,560
1,598
ECL movement on loan commitments and financial guarantees
(23)
(6)
7
(22)
ECL movement on other financial assets
\u2014
1
(6)
(5)
ECL movement on debt securities at amortised cost
1
(2)
\u2014
(1)
Recoveries and reimbursements5
10
(26)
(102)
(118)
ECL charge on assets held for sale6
181
Total exchange and other adjustments
233
Total credit impairment charge for the year
1,866
Notes
1 Business activity in the year reported within Corporate loans include \u00a30.1bn related to acquisition of the GM co-branded card portfolio within
USCB.
2 Refinements to models used for calculation reported within Corporate loans include a \u00a3(89)m movement in the calculated ECL for the UKCB and
IB portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to
determine accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over
an extended period of time. This helps to ensure that the models used continue to reflect the risks inherent in the businesses.
3 The \u00a3124m of gross disposals reported within Corporate loans relate to debt sales undertaken during the year.
4 In 2025, gross write-offs amounted to \u00a31,101m and post write-off recoveries amounted to \u00a338m. Net write-offs represent gross write-offs less
post write-off recoveries and amounted to \u00a31,063m.
5 Recoveries and reimbursements include \u00a380m for reimbursements where the Barclays Bank Group has entered into financial guarantee
contracts which provide credit protection over certain assets with third parties and cash recoveries of previously written-off amounts of \u00a338m.
6 ECL charge on assets held for sale relate to the charges on a co-branded card portfolio in USCB and the German consumer finance business.
Loan commitments and financial guarantees
(audited)1
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2025
18
\u2014
\u2014
\u2014
1
\u2014
19
\u2014
Net transfers between stages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Business activity in the year
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(5)
\u2014
\u2014
\u2014
(1)
\u2014
(6)
\u2014
Limit management and final repayments
(3)
\u2014
\u2014
\u2014
\u2014
\u2014
(3)
\u2014
As at 31 December 2025
10
\u2014
\u2014
\u2014
\u2014
\u2014
10
\u2014
Retail credit cards
As at 1 January 2025
112,645
34
1,648
15
10
1
114,303
50
Net transfers between stages
(1,083)
7
1,083
(7)
\u2014
\u2014
\u2014
\u2014
Business activity in the year
24,319
11
120
2
\u2014
\u2014
24,439
13
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(6,434)
(19)
(1,528)
5
\u2014
(1)
(7,962)
(15)
Limit management and final repayments
(11,277)
(7)
(196)
(4)
\u2014
\u2014
(11,473)
(11)
Disposals2
(5,291)
\u2014
(221)
\u2014
(10)
\u2014
(5,522)
\u2014
As at 31 December 2025
112,879
26
906
11
\u2014
\u2014
113,785
37
Retail other
As at 1 January 2025
3,970
5
103
\u2014
11
\u2014
4,084
5
Net transfers between stages
(28)
\u2014
29
\u2014
(1)
\u2014
\u2014
\u2014
Business activity in the year
624
\u2014
1
\u2014
\u2014
\u2014
625
\u2014
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
291
(4)
46
\u2014
23
\u2014
360
(4)
Limit management and final repayments
(784)
\u2014
(33)
\u2014
(20)
\u2014
(837)
\u2014
Disposals2
(756)
\u2014
(30)
\u2014
(1)
\u2014
(787)
\u2014
As at 31 December 2025
3,317
1
116
\u2014
12
\u2014
3,445
1
Corporate loans
As at 1 January 2025
229,565
116
15,079
225
954
24
245,598
365
Net transfers between stages
(201)
40
269
(40)
(68)
\u2014
\u2014
\u2014
Business activity in the year
50,364
28
2,699
61
405
\u2014
53,468
89
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
9,810
(54)
(492)
33
(282)
13
9,036
(8)
Limit management and final repayments
(60,919)
(26)
(4,259)
(56)
(340)
(4)
(65,518)
(86)
As at 31 December 2025
228,619
104
13,296
223
669
33
242,584
360
Notes
1 Loan commitments reported also include exposure relating to financial assets classified as held for sale.
2 The gross disposals reported within Retail credit cards and Retail other relate to the German consumer finance business; sale of which was
completed in Q125.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2024
7,257
11
389
28
716
321
8,362
360
Transfers from Stage 1 to Stage 2
(231)
\u2014
231
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
91
3
(91)
(3)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(82)
\u2014
(30)
(3)
112
3
\u2014
\u2014
Transfers from Stage 3
19
1
11
\u2014
(30)
(1)
\u2014
\u2014
Business activity in the year
632
1
\u2014
\u2014
2
\u2014
634
1
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
197
(2)
(2)
9
69
40
264
47
Final repayments
(893)
(1)
(45)
(1)
(86)
(3)
(1,024)
(5)
Disposals1
(2,453)
(5)
(313)
(29)
(461)
(316)
(3,227)
(350)
Write-offs
\u2014
\u2014
\u2014
\u2014
(12)
(12)
(12)
(12)
As at 31 December 2024
4,537
8
150
1
310
32
4,997
41
Retail credit cards
As at 1 January 2024
22,315
412
3,450
1,138
1,522
1,226
27,287
2,776
Transfers from Stage 1 to Stage 2
(1,503)
(51)
1,503
51
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
1,170
321
(1,170)
(321)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(616)
(24)
(876)
(390)
1,492
414
\u2014
\u2014
Transfers from Stage 3
10
9
8
5
(18)
(14)
\u2014
\u2014
Business activity in the year
1,508
33
206
59
20
18
1,734
110
Refinements to models used for calculation2
\u2014
5
\u2014
2
\u2014
4
\u2014
11
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
1,039
(280)
728
506
(45)
973
1,722
1,199
Final repayments
(108)
(7)
(32)
(13)
(1)
\u2014
(141)
(20)
Transfers to assets held for Sale3
(5,495)
(64)
(689)
(161)
(57)
(46)
(6,241)
(271)
Disposals1
(691)
(20)
(175)
(69)
(249)
(219)
(1,115)
(308)
Write-offs
\u2014
\u2014
\u2014
\u2014
(940)
(940)
(940)
(940)
As at 31 December 2024
17,629
334
2,953
807
1,724
1,416
22,306
2,557
Retail other
As at 1 January 2024
2,734
8
369
2
308
35
3,411
45
Transfers from Stage 1 to Stage 2
(221)
\u2014
221
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
86
\u2014
(86)
\u2014
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(148)
\u2014
(53)
\u2014
201
\u2014
\u2014
\u2014
Transfers from Stage 3
82
\u2014
47
\u2014
(129)
\u2014
\u2014
\u2014
Business activity in the year
1,159
1
\u2014
\u2014
\u2014
\u2014
1,159
1
Refinements to models used for calculation
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
1,640
\u2014
36
\u2014
74
13
1,750
13
Final repayments
(2,003)
(4)
(130)
(1)
(224)
(9)
(2,357)
(14)
Disposals
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Write-offs
\u2014
\u2014
\u2014
\u2014
(14)
(14)
(14)
(14)
As at 31 December 2024
3,329
5
404
1
216
25
3,949
31
Notes
1 The \u00a33.2bn of gross disposals reported within Retail mortgages relate to sale of the Italian mortgage loans. The \u00a31.1bn of\u00a0 gross disposals
reported within Retail credit cards include \u00a30.9bn sale of outstanding US Cards receivables to Blackstone and \u00a30.2bn of other debt sale
undertaken during the year.
2 Refinements to models used for calculation reported within Retail credit cards include a \u00a311 m movement in the calculated ECL for the US
Cards portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to
determine accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation
over an extended period of time. This helps to ensure that the models used continue to reflect the risks inherent across the businesses.
3 Transfers to assets held for sale reported within Retail credit cards relate to a co-branded card portfolio within USCB.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Corporate loans
As at 1 January 2024
100,956
179
8,967
309
1,235
348
111,158
836
Transfers from Stage 1 to Stage 2
(2,586)
(15)
2,586
15
\u2014
\u2014
\u2014
\u2014
Transfers from Stage 2 to Stage 1
2,098
42
(2,098)
(42)
\u2014
\u2014
\u2014
\u2014
Transfers to Stage 3
(404)
(2)
(392)
(21)
796
23
\u2014
\u2014
Transfers from Stage 3
143
1
23
5
(166)
(6)
\u2014
\u2014
Business activity in the year
28,497
39
811
34
183
19
29,491
92
Refinements to models used for calculation 1
\u2014
18
\u2014
51
\u2014
\u2014
\u2014
69
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
3,957
(76)
198
\u2014
6
270
4,161
194
Final repayments
(25,406)
(40)
(1,937)
(92)
(142)
(3)
(27,485)
(135)
Transfers to assets held for sale2
(49)
(1)
(9)
(3)
(1)
(1)
(59)
(5)
Disposals3
(12)
(1)
(2)
(2)
(2)
(2)
(16)
(5)
Write-offs
\u2014
\u2014
\u2014
\u2014
(255)
(255)
(255)
(255)
As at 31 December 2024
107,194
144
8,147
254
1,654
393
116,995
791
Reconciliation of ECL movement to credit impairment (release)/charge for the period
Stage 1
Stage 2
Stage 3
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
2
2
39
43
Retail credit cards
6
(101)
1,395
1,300
Retail other
(3)
(1)
4
\u2014
Corporate loans
(33)
(50)
303
220
ECL movement excluding assets held for sale, disposals and write-offs4
(28)
(150)
1,741
1,563
ECL movement on loan commitments and financial guarantees
(12)
(23)
(18)
(53)
ECL movement on other financial assets
3
6
(4)
5
ECL movement on debt securities at amortised cost
2
(6)
\u2014
(4)
Recoveries and reimbursements5
(20)
23
(42)
(39)
ECL charge on Assets held for sale6
74
Total exchange and other adjustments
71
Total credit impairment charge for the year
1,617
Notes
1 Refinements to models used for calculation reported within Corporate loans include a \u00a369m movement in the calculated ECL for the IB portfolio.
These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to determine accuracy
of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over an extended period
of time. This helps to ensure that the models used continue to reflect the risks inherent across the businesses.
2 Transfers to assets held for sale reported within Corporate loans relate to a co-branded card portfolio within USCB.
3 The \u00a316m of gross disposals reported within Corporate loans relate to debt sales undertaken during the year.
4 In 2024, gross write-offs amounted to \u00a31,221m and post write-off recoveries amounted to \u00a328m. Net write-offs represent gross write-offs less
post write-off recoveries and amounted to \u00a31,193m.
5 Recoveries and reimbursements include \u00a311m for reimbursements where the Barclays Bank Group has entered into financial guarantee
contracts which provide credit protection over certain assets with third parties and cash recoveries of previously written off amounts of \u00a328m.
6 ECL charge on assets held for sale relate to the German consumer finance business.
Loan commitments and financial guarantees
(audited) 1
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
As at 1 January 2024
41
\u2014
\u2014
\u2014
1
\u2014
42
\u2014
Net transfers between stages
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Business activity in the year
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(16)
\u2014
\u2014
\u2014
\u2014
\u2014
(16)
\u2014
Limit management and final repayments
(7)
\u2014
\u2014
\u2014
\u2014
\u2014
(7)
\u2014
As at 31 December 2024
18
\u2014
\u2014
\u2014
1
\u2014
19
\u2014
Retail credit cards
As at 1 January 2024
109,634
48
1,767
36
10
1
111,411
85
Net transfers between stages
(1,682)
20
1,675
(20)
7
\u2014
\u2014
\u2014
Business activity in the year
15,489
11
160
3
1
\u2014
15,650
14
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
2,467
(34)
(1,576)
11
(8)
\u2014
883
(23)
Limit management and final repayments
(13,263)
(11)
(378)
(15)
\u2014
\u2014
(13,641)
(26)
As at 31 December 2024
112,645
34
1,648
15
10
1
114,303
50
Retail other
As at 1 January 2024
3,446
5
116
2
29
\u2014
3,591
7
Net transfers between stages
(35)
\u2014
23
\u2014
12
\u2014
\u2014
\u2014
Business activity in the year
741
2
1
\u2014
\u2014
\u2014
742
2
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
621
(2)
(26)
(2)
(7)
\u2014
588
(4)
Limit management and final repayments
(803)
\u2014
(11)
\u2014
(23)
\u2014
(837)
\u2014
As at 31 December 2024
3,970
5
103
\u2014
11
\u2014
4,084
5
Corporate loans
As at 1 January 2024
212,414
114
20,035
225
802
42
233,251
381
Net transfers between stages
1,240
29
(1,519)
(32)
279
3
\u2014
\u2014
Business activity in the year
50,350
33
1,650
30
192
\u2014
52,192
63
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
10,133
(34)
(1,391)
65
(31)
(13)
8,711
18
Limit management and final repayments
(44,572)
(26)
(3,696)
(63)
(288)
(8)
(48,556)
(97)
As at 31 December 2024
229,565
116
15,079
225
954
24
245,598
365
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Note
1Loan commitments reported also include exposure relating to financial assets classified as held for sale.
Management adjustments to models for impairment (audited)
Management adjustments to impairment models are applied in order to factor in certain conditions or changes in policy that
are not fully incorporated into the impairment models, or to reflect additional facts and circumstances at the period end.
Management adjustments are reviewed and incorporated into future model development where applicable.
Management adjustments are captured through \u201cEconomic uncertainty\u201d and \u201cOther\u201d adjustments, and are presented by
product below:
Management adjustments to models for impairment allowance presented by product (audited)
Barclays Bank Group
Impairment
allowance pre
management
adjustments1
Economic
uncertainty
adjustments
(a)
Other
adjustments
(b)
Management\u00a0
adjustments2
(a+b)
Total
impairment
allowance3
Proportion of
Management
adjustments
to total
impairment
allowance
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail mortgages
25
\u2014
8
8
33
24.2
Retail credit cards
2,505
31
87
118
2,623
4.5
Retail other
34
\u2014
(1)
(1)
33
(3.0)
Corporate loans
1,253
49
24
73
1,326
5.5
Total
3,817
80
118
198
4,015
4.9
Debt securities at amortised cost
18
1
\u2014
1
19
5.3
Total including debt securities at amortised cost
3,835
81
118
199
4,034
4.9
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail mortgages
38
\u2014
3
3
41
7.3
Retail credit cards
2,630
\u2014
(23)
(23)
2,607
(0.9)
Retail other
32
\u2014
4
4
36
11.1
Corporate loans
1,162
\u2014
(6)
(6)
1,156
(0.5)
Total
3,862
\u2014
(22)
(22)
3,840
(0.6)
Debt securities at amortised cost
27
\u2014
(7)
(7)
20
(35.0)
Total including debt securities at amortised cost
3,889
\u2014
(29)
(29)
3,860
(0.8)
Notes
1\u00a0 \u00a0 \u00a0 Includes \u00a33.4bn (2024: \u00a33.7bn) of modelled ECL, \u00a30.5bn (2024: \u00a30.3bn) of individually assessed impairments, \u00a3(0.2)bn (2024: \u00a3(0.3)bn) of
ECL from assets held for sale (co-branded card portfolio) and \u00a30.1bn (2024: \u00a30.1bn) of ECL from benchmarked exposures and debt securities.
2\u00a0 \u00a0 \u00a0 Management adjustments related to other financial assets subject to impairment not included in the table above include cash collateral and
settlement balances \u00a31m (2024: \u00a3(1)m), reverse repurchase agreements \u00a31m (2024: \u00a3(2)m) and financial assets at fair value through other
comprehensive income \u00a3nil (2024: \u00a3(2)m) within the IB portfolio.
3\u00a0 \u00a0 \u00a0 Total impairment allowance consists of ECL stock on drawn and undrawn exposures.
Economic uncertainty adjustments presented by stage (audited)
Stage 1
Stage 2
Stage 3
Total
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Retail mortgages
\u2014
\u2014
\u2014
\u2014
Retail credit cards
\u2014
31
\u2014
31
Retail other
\u2014
\u2014
\u2014
\u2014
Corporate loans
16
33
\u2014
49
Total
16
64
\u2014
80
Debt Securities at amortised cost
1
\u2014
\u2014
1
Total including debt securities at amortised cost
17
64
\u2014
81
Economic uncertainty adjustments
Economic uncertainty adjustments are captured in two ways. First, customer uncertainty: the identification of customers
and clients who may be more vulnerable to economic instability; and second, model uncertainty: to capture the impact of
model limitations and sensitivities to specific macroeconomic parameters, which are applied at a portfolio level.
The Barclays Bank Group continues to monitor the elevated tariffs, trade tensions, and geopolitical risks, especially in the US.
In response, an adjustment of \u00a381m introduced during Q125 within customer and client uncertainty provisions has been
retained, with any resulting effects on customer behaviour yet to materialise.
Other adjustments
Other adjustments are operational and remain in place until incorporated into the underlying models. These adjustments
result from data limitations and model performance related issues identified through model monitoring and other
established governance processes.
Total other adjustments as at 31 December 2025 are \u00a3118m (2024: \u00a3(29)m) and include:
\u2022 Retail mortgages \u00a38m (2024: \u00a33m): Reflects operational adjustments in the Mortgage product of the Private Banking
portfolio
\u2022 Retail credit cards \u00a387m (2024: \u00a3(23)m): This adjustment reflects provisioning for the GM consumer cards portfolio
acquired during the year, while the previously held high-risk account management (HRAM) adjustment was retired
following model remediation in USCB
\u2022 Corporate loans \u00a324m (2024: \u00a3(6)m): This adjustment reflects provisioning for the GM business cards portfolio
acquired during the year
\u2022 Debt securities \u00a3 nil (2024: \u00a3(7)m): The movement is driven by the retirement of the Exposure at Default recalibration
adjustment following model remediation in the IB portfolio
Loans and advances by product
Loans and advances to customers classified as assets held for sale (audited)
Stage 1
Stage 2
Stage 3
Total
Gross
ECL
Coverage
Gross
ECL
Coverage
Gross
ECL
Coverage
Gross
ECL
Coverage
As at 31 December 2025
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
%
Retail credit cards - US
5,468
65
1.2
466
124
26.6
54
44
81.5
5,988
233
3.9
Retail credit cards -
Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail other - Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans - US
43
1
2.3
6
2
33.3
\u2014
\u2014
\u2014
49
3
6.1
Total
5,511
66
1.2
472
126
26.7
54
44
81.5
6,037
236
3.9
As at 31 December 2024
Retail credit cards - US
5,495
64
1.2
689
161
23.4
57
46
80.7
6,241
271
4.3
Retail credit cards -
Germany
1,908
18
0.9
307
29
9.4
93
69
74.2
2,308
116
5.0
Retail other - Germany
1,134
16
1.4
220
33
15.0
71
48
67.6
1,425
97
6.8
Corporate loans - US
49
1
2.0
9
3
33.3
1
1
100.0
59
5
8.5
Total
8,586
99
1.2
1,225
226
18.4
222
164
73.9
10,033
489
4.9
Management adjustments to models for impairment (audited)
Management adjustments to models for impairment allowance presented by product (audited)
Barclays Bank Group
Impairment
allowance pre
management
adjustments
Economic
uncertainty
adjustments1
(a)
Other
adjustments
(b)
Management\u00a0
adjustments
(a+b)
Total
impairment
allowance
Proportion of
Management
adjustments to
total
impairment
allowance
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail credit cards - US
232
5
\u2014
5
237
2.1
Retail credit cards - Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Retail other - Germany
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Corporate loans - US
3
\u2014
\u2014
\u2014
3
\u2014
Total
235
5
\u2014
5
240
2.1
As at 31 December 2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Retail credit cards - US
277
\u2014
\u2014
\u2014
277
\u2014
Retail credit cards - Germany
101
\u2014
16
16
117
13.7
Retail other - Germany
80
\u2014
17
17
97
17.5
Corporate loans - US
5
\u2014
\u2014
\u2014
5
\u2014
Total
463
\u2014
33
33
496
6.7
Note
1 Reflects a Stage 2 adjustment for elevated US macroeconomic uncertainty; with impacts yet to materialise in consumer behaviour.
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - US (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
165
\u2014
\u2014
165
\u2014
\u2014
\u2014
\u2014
165
\u2014
6-8
0.15 to <0.30%
Strong
953
\u2014
\u2014
953
3
\u2014
\u2014
3
950
0.3
9-11
0.30 to <0.60%
Strong
1,351
1
\u2014
1,352
6
\u2014
\u2014
6
1,346
0.4
12-14
0.60 to <2.15%
Satisfactory
1,795
5
\u2014
1,800
18
\u2014
\u2014
18
1,782
1.0
15-19
2.15 to <11.35%
Satisfactory
1,149
226
\u2014
1,375
34
35
\u2014
69
1,306
5.0
20-21
11.35 to <100%
Higher Risk
55
234
\u2014
289
4
89
\u2014
93
196
32.2
22
100%
Credit Impaired
\u2014
\u2014
54
54
\u2014
\u2014
44
44
10
81.5
Total
5,468
466
54
5,988
65
124
44
233
5,755
3.9
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - Germany (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
15-19
2.15 to <11.35%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Credit risk profile by internal PD grade classified as assets held for sale for Retail other - Germany (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
15-19
2.15 to <11.35%
Satisfactory
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Credit risk profile by internal PD grade classified as assets held for sale for Corporate loans - US (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
2
\u2014
\u2014
2
\u2014
\u2014
\u2014
\u2014
2
\u2014
15-19
2.15 to <11.35%
Satisfactory
41
\u2014
\u2014
41
1
\u2014
\u2014
1
40
2.4
20-21
11.35 to <100%
Higher Risk
\u2014
6
\u2014
6
\u2014
2
\u2014
2
4
33.3
22
100%
Credit Impaired
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total
43
6
\u2014
49
1
2
\u2014
3
46
6.1
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - US (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
5,495
\u2014
\u2014
5,495
64
\u2014
\u2014
64
5,431
1.2
15-19
2.15 to <11.35%
Satisfactory
\u2014
689
\u2014
689
\u2014
161
\u2014
161
528
23.4
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
57
57
\u2014
\u2014
46
46
11
80.7
Total
5,495
689
57
6,241
64
161
46
271
5,970
4.3
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - Germany (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
62
\u2014
\u2014
62
\u2014
\u2014
\u2014
\u2014
62
\u2014
4-5
0.05 to <0.15%
Strong
289
\u2014
\u2014
289
1
\u2014
\u2014
1
288
0.3
6-8
0.15 to <0.30%
Strong
152
\u2014
\u2014
152
1
\u2014
\u2014
1
151
0.7
9-11
0.30 to <0.60%
Strong
250
\u2014
\u2014
250
1
\u2014
\u2014
1
249
0.4
12-14
0.60 to <2.15%
Satisfactory
928
5
\u2014
933
9
\u2014
\u2014
9
924
1.0
15-19
2.15 to <11.35%
Satisfactory
227
229
\u2014
456
6
15
\u2014
21
435
4.6
20-21
11.35 to <100%
Higher Risk
\u2014
73
\u2014
73
\u2014
14
\u2014
14
59
19.2
22
100%
Credit Impaired
\u2014
\u2014
93
93
\u2014
\u2014
69
69
24
74.2
Total
1,908
307
93
2,308
18
29
69
116
2,192
5.0
Credit risk profile by internal PD grade classified as assets held for sale for Retail other - Germany (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
1
\u2014
\u2014
1
\u2014
\u2014
\u2014
\u2014
1
\u2014
4-5
0.05 to <0.15%
Strong
25
\u2014
\u2014
25
\u2014
\u2014
\u2014
\u2014
25
\u2014
6-8
0.15 to <0.30%
Strong
110
\u2014
\u2014
110
\u2014
\u2014
\u2014
\u2014
110
\u2014
9-11
0.30 to <0.60%
Strong
294
\u2014
\u2014
294
1
\u2014
\u2014
1
293
0.3
12-14
0.60 to <2.15%
Satisfactory
534
17
\u2014
551
6
4
\u2014
10
541
1.8
15-19
2.15 to <11.35%
Satisfactory
170
182
\u2014
352
9
22
\u2014
31
321
8.8
20-21
11.35 to <100%
Higher Risk
\u2014
21
\u2014
21
\u2014
7
\u2014
7
14
33.3
22
100%
Credit Impaired
\u2014
\u2014
71
71
\u2014
\u2014
48
48
23
67.6
Total
1,134
220
71
1,425
16
33
48
97
1,328
6.8
Credit risk profile by internal PD grade classified as assets held for sale for Corporate loans - US (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4-5
0.05 to <0.15%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
6-8
0.15 to <0.30%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9-11
0.30 to <0.60%
Strong
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
12-14
0.60 to <2.15%
Satisfactory
49
\u2014
\u2014
49
1
\u2014
\u2014
1
48
2.0
15-19
2.15 to <11.35%
Satisfactory
\u2014
9
\u2014
9
\u2014
3
\u2014
3
6
33.3
20-21
11.35 to <100%
Higher Risk
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
22
100%
Credit Impaired
\u2014
\u2014
1
1
\u2014
\u2014
1
1
\u2014
100.0
Total
49
9
1
59
1
3
1
5
54
8.5
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1. Reporting entity
Barclays Bank PLC is a public company limited by shares registered in England under company number 1026167, having its
registered office at 1 Churchill Place, London, E14 5HP.
These financial statements are prepared for Barclays Bank PLC and its subsidiaries (the Barclays Bank Group) under Section
399 of the Companies Act 2006. The Barclays Bank Group is a major global financial services provider engaged in credit
cards, wholesale banking, investment banking, wealth management and investment management services. In addition,
separate financial statements have been presented for the holding company.
2. Compliance with International Financial Reporting Standards
The consolidated financial statements of the Barclays Bank Group, and the separate financial statements of Barclays Bank
PLC, have been prepared in accordance with UK-adopted international accounting standards.
The consolidated financial statements of the Barclays Bank Group, and the separate financial statements of Barclays Bank
PLC, have also been prepared in accordance with (1) International Financial Reporting Standards (IFRS) as issued by the
International Accounting Standards Board (IASB), including interpretations issued by the IFRS Interpretations Committee, as
there are no applicable differences from IFRS as issued by the IASB for the periods presented; and (2) IFRS adopted pursuant
to Regulation (EC) No. 1606/2002 as it applies in the European Union (\u201cIFRS as adopted by the EU\u201d).
There are currently no differences between UK-adopted international accounting standards and IFRS as adopted by the EU
and therefore no reconciliation of variances is provided.
The principal accounting policies applied in the preparation of the consolidated and separate financial statements are set out
below, and in the relevant notes to the financial statements. These policies have been consistently applied.
3. Basis of preparation
The consolidated and separate financial statements have been prepared under the historical cost convention modified to the
extent required or permitted under IFRS as set out in the relevant accounting policies. The financial statements are stated in
millions of Pounds Sterling (\u00a3m), the functional currency of Barclays Bank PLC.
The financial statements have been prepared on a going concern basis, in accordance with the Companies Act 2006 as
applicable to companies using IFRS. The financial statements are prepared on a going concern basis as the Board is satisfied
that the Barclays Bank Group and parent company have the resources to continue in business for a period of at least 12
months from approval of the financial statements.
In making this assessment, the Board has considered a wide range of information relating to present and future conditions
and has reviewed a working capital report (WCR). The WCR is used by the Board to assess the future performance of the
Barclays Bank Group and whether it has the resources in place that are required to meet its ongoing regulatory
requirements. The WCR assessment is based upon business plans which contain future forecasts of profitability taken from
the Barclays Bank Group\u2019s medium term plan as well as projections of regulatory capital requirements and business funding
needs. The WCR also includes an assessment of the impact of internally generated stress testing scenarios on the liquidity
and capital requirement forecasts. The stress tests used were based upon an assessment of reasonably possible downside
economic scenarios that the Barclays Bank Group could experience.
The WCR showed that the Barclays Bank Group had sufficient capital and liquidity in place to support its future business
requirements and remained above its regulatory minimum requirements in the stress scenarios. Accordingly, the Board
concluded that there was a reasonable expectation that the Barclays Bank Group has adequate resources to continue as a
going concern for a period of at least 12 months from the date of approval of the financial statements.
4. Accounting policies
The Barclays Bank Group prepares financial statements in accordance with IFRS. The Barclays Bank Group\u2019s material
accounting policies relating to specific financial statement items, together with a description of the accounting estimates
and judgements that were critical to preparing those items, are set out under the relevant notes. Accounting policies that
affect the financial statements as a whole are set out below.
(i) Consolidation
The consolidated financial statements combine the financial statements of Barclays Bank PLC and all its subsidiaries.
Subsidiaries are entities over which Barclays Bank PLC has control. The Barclays Bank Group has control over another entity
when the Barclays Bank Group has all of the following:
1) power over the relevant activities of the investee, for example through voting or other rights;
2) exposure to, or rights to, variable returns from its involvement with the investee; and
3) the ability to affect those returns through its power over the investee.
As the consolidated financial statements include partnerships where the Barclays Bank Group member is a partner,
advantage has been taken of the exemption under Regulation 7 of the Partnership (Accounts) Regulations 2008 with regard
to preparing and filing of individual partnership financial statements.
Details of the principal subsidiaries are given in Note 31.
(ii) Foreign currency translation
Transactions in foreign currencies are translated into Sterling at the rate ruling on the date of the transaction. Foreign
currency monetary balances are translated into Sterling at the period end exchange rates. Exchange gains and losses on
such balances are taken to the income statement.\u00a0
The Barclays Bank Group\u2019s foreign operations (including subsidiaries, joint ventures, associates and branches) based mainly
outside the UK may have different functional currencies. The functional currency of an operation is the currency of the main
economy to which it is exposed.
Prior to consolidation (or equity accounting) the assets and liabilities of non-Sterling operations are translated at the period
end exchange rate and items of income, expense and other comprehensive income are translated into Sterling at the rate on
the date of the transactions. Exchange differences arising on the translation of foreign operations are included in currency
translation reserves within equity. These are transferred to the income statement when the Barclays Bank Group disposes of
the entire interest in a foreign operation, when partial disposal results in the loss of control of an interest in a subsidiary,
when an investment previously accounted for using the equity method is accounted for as a financial asset, or on the
disposal of a foreign operation within a branch.
(iii) Financial assets and liabilities
Recognition
The Barclays Bank Group recognises financial assets and liabilities when it becomes a party to the terms of the contract.
Trade date or settlement date accounting is applied depending on the classification of the financial asset.
Classification and measurement
Financial assets are classified on the basis of two criteria:
i) the business model within which financial assets are managed; and
ii) their contractual cash flow characteristics (whether the cash flows represent \u2018solely payments of principal and
interest\u2019 (SPPI)).
The Barclays Bank Group assesses the business model criteria at a portfolio level. Information that is considered in
determining the applicable business model includes (i) policies and objectives for the relevant portfolio, (ii) how the
performance and risks of the portfolio are managed, evaluated and reported to management, and (iii) the frequency, volume
and timing of sales in prior periods, sales expectation for future periods, and the reasons for such sales.
The contractual cash flow characteristics of financial assets are assessed with reference to whether the cash flows represent
SPPI. Terms that could change the contractual cash flows so that it would not meet the condition for SPPI are considered,
including: (i) contingent and leverage features, (ii) non-recourse arrangements, (iii) features that could modify the time
value of money, and (iv) Social, Environmental and Sustainability-linked features. Terms with de-minimis impact do not
preclude cash flows from representing SPPI.
The accounting policy for each type of financial asset or liability is included within the relevant note for the item. The
Barclays Bank Group\u2019s policies for determining the fair values of the assets and liabilities are set out in Note 16.
Derecognition
The Barclays Bank Group derecognises a financial asset, or a portion of a financial asset, from its balance sheet where (i) the
contractual rights to cash flows from the asset have expired, or (ii) the contractual rights to the cash flows from the asset
have been transferred (usually by sale) and with them either (a) substantially all the risks and rewards of the asset have been
transferred, or (b) where neither substantially all the risks and rewards have been transferred or retained, where control over
the asset has been lost.
It may not be obvious whether substantially all of the risks and rewards of a transferred asset, or portion of an asset, have
been transferred. It is often necessary to perform a quantitative analysis that compares the Barclays Bank Group's exposure
to variability in asset cash flows before the transfer with its retained exposure after the transfer. A cash flow analysis of this
nature may require judgement. In particular, it is necessary to estimate the asset\u2019s expected future cash flows as well as
potential variability around this expectation. The method of estimating expected future cash flows depends on the nature of
the asset, with market and market-implied data used to the greatest extent possible. The potential variability around this
expectation is typically determined by stressing underlying parameters to create reasonable alternative upside and downside
scenarios. Probabilities are then assigned to each scenario. Stressed parameters may include default rates, loss severity, or
prepayment rates.
Financial liabilities are de-recognised when the liability has been settled, has expired or has been extinguished. An exchange
of an existing financial liability for a new liability with the same lender on substantially different terms \u2013 generally a difference
of 10% or more in the present value of the cash flows or a substantive qualitative amendment \u2013 is accounted for as an
extinguishment of the original financial liability and the recognition of a new financial liability.
Accounting for reverse repurchase and repurchase agreements including other similar lending and borrowing
Reverse repurchase agreements (and stock borrowing or similar transactions) are a form of secured lending whereby the
Barclays Bank Group provides a loan or cash collateral in exchange for the transfer of collateral, generally in the form of
marketable securities subject to an agreement to transfer the securities back at a fixed price in the future. Repurchase
agreements are where the Barclays Bank Group obtains such loans or cash collateral, in exchange for the transfer of
collateral.
The Barclays Bank Group purchases (a reverse repurchase agreement) or borrows securities subject to a commitment to
resell or return them. The securities are not included in the balance sheet as the Barclays Bank Group does not acquire the
risks and rewards of ownership. Consideration paid (or cash collateral provided) is accounted for as a loan asset at
amortised cost, unless it is designated or mandatorily at fair value through profit and loss.
The Barclays Bank Group may also sell (a repurchase agreement) or lend securities subject to a commitment to repurchase
or redeem them. The securities are retained on the balance sheet as the Barclays Bank Group retains substantially all the
risks and rewards of ownership. Consideration received (or cash collateral provided) is accounted for as a financial liability at
amortised cost, unless it is designated at fair value through profit and loss.
(iv) Issued debt and equity instruments
Issued financial instruments or their components are classified as liabilities if the contractual arrangement results in the
Barclays Bank Group having an obligation to either deliver cash or another financial asset, or a variable number of equity
shares, to the holder of the instrument. If this is not the case, the instrument is generally an equity instrument and the
proceeds included in equity, net of transaction costs. Dividends and other returns to equity holders are recognised when
paid or declared by the members at the Annual General Meeting and treated as a deduction from equity.
Where issued financial instruments contain both liability and equity components, these are accounted for separately. The
fair value of the debt is estimated first and the balance of the proceeds is included within equity.
(v) Cash flow statement
Cash comprises cash on hand and balances at central banks. Cash equivalents comprise loans and advances to banks, cash collateral
balances with central banks related to payment schemes and treasury and other eligible bills, all with original maturities of three months or
less.
Investments in debt securities at amortised cost are deemed to be investing activities for the purposes of the cash flow
statement, except those instruments considered to be cash equivalents.\u00a0
5. New and amended standards and interpretations
Future accounting developments
The following accounting standards have been issued by the IASB but are not yet effective:
Amendment to IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments
In May 2024, the IASB issued targeted amendments to IFRS 9 to address feedback received from stakeholders following a
post-implementation review.\u00a0 The amendments include:
\u2022 Additional guidance to clarify when certain financial assets may be compliant with SPPI requirements, including
instruments with contingent features (e.g. ESG-linked financing), as well as contractually-linked instruments and
non-recourse financing.
\u2022 Clarifying the derecognition requirements for financial assets and financial liabilities, including establishing a new
accounting policy choice for derecognition of a financial liability when a payment is initiated by the reporting entity
using an electronic payment system provided specified criteria is met.
The amendments are effective from 1 January 2026. The adoption of the derecognition amendment is expected to result in a
change of policy for derecognising certain types of financial liabilities. As a result of these amendments, it is expected that
the impacted liabilities will be reclassified from Cash collateral and settlement balances to Trading portfolio liabilities. No
other material impacts are anticipated from the adoption of these derecognition amendments or from the other changes
introduced to IFRS 9. The quantitative impact of IFRS 9 and IFRS 7 amendments will continue to be assessed in 2026.\u2019
IFRS 18 Presentation and Disclosure in Financial Statements
In April 2024, the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements, which replaces IAS 1. IFRS 18
introduces new requirements for presentation within the statement of profit or loss, including specified totals and subtotals,
it requires entities to classify all income and expenses into five categories: operating, investing, financing, income tax and
discontinued operations, and introduces defined subtotals, including operating profit.
IFRS 18 requires entities to assess whether they have a IFRS 18 defined specified main business activity. For those entities
with a specified main business activity, certain income and expenses will be recorded in the operating category, which may
have been recorded in another category if the entity did not have a specified main business activity.
The standard introduces new aggregation and disaggregation principles for financial information and narrow scope
amendments to IAS 7 Statement of Cash Flows by using operating profit as the starting point for the indirect method and
removing optionality in the classification of interest and dividends. The standard requires disclosure of management-defined
performance measures (MPMs).
The Barclays Bank Group has commenced its IFRS 18 impact assessment. The Barclays Bank Group expects to have an IFRS
18 specified main business activity, allowing significant items from the Barclays Bank Group\u2019s operations to be reported
within the operating category.
The Barclays Bank Group is also assessing the impact on management\u2011defined performance measures (MPMs) and the
enhanced disaggregation requirements introduced by IFRS 18. In 2026, the Barclays Bank Group will continue to assess the
impact of IFRS 18.
The new standard is effective from 1 January 2027.
6. Critical accounting estimates and judgements
The preparation of financial statements in accordance with IFRS requires the use of estimates. It also requires management
to exercise judgement in applying the accounting policies. The key areas involving a higher degree of judgement or
complexity or areas where assumptions are significant to the consolidated and individual financial statements are
highlighted under the relevant note. Information about estimates, and other sources of estimation uncertainty at the end of
the reporting period, that are considered to have a significant risk of resulting in material adjustment to the carrying
amounts of assets and liabilities within the next financial year are disclosed within the relevant note.
\u25aa Credit impairment charges on page 308
\u25aa Tax on page 311
\u25aa Fair value of financial instruments on page 334
\u25aa Pensions and post-retirement benefit obligations on page 385
\u25aa Provisions including conduct and legal, competition, and regulatory matters on page 362
7. Other disclosures
To improve transparency and ease of reference, by concentrating related information in one place, certain disclosures
required under IFRS have been included within the Risk review section as follows:
\u25aa Credit risk on pages 147 to 149 and on pages 162 to 216
\u25aa Market risk on page 149 and on pages 218 to 219
\u25aa Treasury and capital risk \u2013 capital on page 150 to 152 and on page 231
\u25aa Treasury and capital risk \u2013 liquidity on pages 150 to 152 and on pages 221 to 230
These disclosures are covered by the Audit opinion (included on pages 263 to 283) where referenced as audited.
Operating segments are reported in a manner consistent with the internal reporting provided to the Executive Committee,
which is responsible for allocating resources and assessing performance of the operating segments, and has been identified
as the chief operating decision maker. All transactions between business segments are conducted on an arm\u2019s-length basis.
Income and expenses directly associated with each segment are included in determining business segment performance.
Accounting for interest income and expenses
Interest income on loans and advances at amortised cost, financial assets at fair value through other comprehensive
income and interest expense on financial liabilities held at amortised cost are calculated using the effective interest method
which allocates interest, and direct and incremental fees and costs, over the expected lives of the assets and liabilities.
The effective interest method requires the Barclays Bank Group to estimate future cash flows, in some cases based on its
experience of customers\u2019 behaviour, considering all contractual terms of the financial instrument, as well as the expected
lives of the assets and liabilities.
The Barclays Bank Group incurs certain costs to originate credit card balances with the most significant being co-brand
partner fees. To the extent these costs are attributed to customers that continuously carry an outstanding balance
(revolvers) and incremental to the origination of credit card balances, they are capitalised and subsequently included
within the calculation of the effective interest rate. They are amortised to interest income over the period of expected
repayment of the originated balance. Costs attributed to customers that settle their outstanding balances each period
(transactors) are deferred on the balance sheet as a cost of obtaining a contract and amortised to fee and commission
expense over the life of the customer relationship (refer to Note 4). There are no other individual estimates involved in the
calculation of effective interest rates that are material to the results or financial position.
Accounting for net fee and commission income
The Barclays Bank Group recognises fee and commission income charged for services provided by the Barclays Bank
Group as and when performance obligations are satisfied, for example, on completion of the underlying transaction.
Incremental costs are reported within fee and commission expense if they are directly attributable to generating
identifiable fee and commission income. Where the contractual arrangements also result in the Barclays Bank Group
recognising financial instruments in scope of IFRS 9, such financial instruments are initially recognised at fair value in
accordance with IFRS 9 before applying the provisions of IFRS 15.
Accounting for net trading income
Trading positions are held at fair value, and the resulting gains and losses are included in net trading income, together with
interest and dividends arising from long and short positions and funding costs relating to trading activities. Incremental
costs are reported within net trading income if they are directly attributable to generating identifiable trading income.
Income arises from both the sale and purchase of trading positions, margins which are achieved through market making
and customer business and from changes in fair value caused by movements in interest and exchange rates, equity prices
and other market variables.
Gains or losses on non-trading financial instruments designated or mandatorily at fair value, with changes in fair value
recognised in the income statement, are included in net trading income where the business model is to manage assets and
liabilities on a fair value basis, which includes the use of derivatives. Gains and losses are also reported in net trading
income where an instrument is designated at fair value to eliminate an accounting mismatch.
Accounting for net investment (expense)/income
Dividends are recognised when the right to receive the dividend has been established. Incremental costs are reported
within net investment income if they are directly attributable to generating identifiable investment income. Other
accounting policies relating to net investment income are set out in Note 12 and Note 14.
Accounting for the impairment of financial assets
Impairment
In accordance with IFRS 9, the Barclays Bank Group is required to recognise expected credit losses (ECLs) based on unbiased
forward-looking information for all financial assets at amortised cost, lease receivables, debt financial assets at fair value
through other comprehensive income, loan commitments and financial guarantee contracts. Intercompany exposures in the
individual financial statements, including loan commitments and financial guarantee contracts, are also in scope of IFRS 9
for ECL purposes.
At the reporting date, an allowance (or provision for loan commitments and financial guarantees) is required for the 12
month (Stage 1) ECLs. If the credit risk has significantly increased since initial recognition (Stage 2), or if the financial
instrument is credit impaired (Stage 3), an allowance (or provision) should be recognised for the lifetime ECLs.
The measurement of ECL is calculated using three main components: (i) probability of default (PD) (ii) loss given default
(LGD) and (iii) the exposure at default (EAD).
The 12 month and lifetime ECLs are calculated by multiplying the respective PD, LGD and the EAD. The 12 month and
lifetime PDs represent the PD occurring over the next 12 months and the remaining maturity of the instrument respectively.
The EAD represents the expected balance at default, taking into account the repayment of principal and interest from the
balance sheet date to the default event together with any expected drawdowns of committed facilities. The LGD represents
expected losses on the EAD given the event of default, taking into account, among other attributes, the mitigating effect of
collateral value at the time it is expected to be realised and the time value of money.
Expected credit loss measurement is based on the ability of borrowers to make payments as they fall due. The Barclays Bank
Group also considers sector specific risks and whether additional adjustments are required in the measurement of ECL.
Credit risk may be impacted by climate considerations for certain sectors, such as oil and gas.
Determining a significant increase in credit risk since initial recognition:
The Barclays Bank Group assesses when a significant increase in credit risk has occurred based on quantitative and
qualitative assessments. The credit risk of an exposure is considered to have significantly increased when:
i) Quantitative test
The annualised lifetime PD has increased by more than an agreed threshold relative to the equivalent at origination.
PD deterioration thresholds are defined as percentage increases, and are set at an origination score band and segment level
to ensure the test appropriately captures significant increases in credit risk at all risk levels. Generally, thresholds are
inversely correlated to the origination PD, i.e. as the origination PD increases, the threshold value reduces.
The assessment of the point\u00a0at which a PD increase is deemed \u2018significant\u2019 is based upon analysis of the portfolio\u2019s risk
profile against a common set of principles and performance metrics (consistent across both retail and wholesale
businesses), incorporating expert credit judgement where appropriate. Application of quantitative PD floors does not
represent the use of the low credit risk exemption as exposures can separately move into stage 2 via the qualitative route
described below.
Wholesale assets apply a 100.0% increase in PD and 0.2% PD floor to determine a significant increase in credit risk.
Retail assets apply bespoke relative increase and absolute PD thresholds based on product type and origination PD.
Thresholds are subject to maximums defined by Barclays Bank Group policy and typically apply minimum relative thresholds
of 50%-100% and a maximum relative threshold of 400%
For existing/historical exposures where origination point scores or data are no longer available or do not represent a
comparable estimate of lifetime PD, a proxy origination score is defined, based upon:
\u25aa back-population of the approved lifetime PD score either to origination date or, where this is not feasible, as far back as
possible (subject to a data start point no later than 1 January 2015); or
\u25aa use of available historical account performance data and other customer information, to derive a comparable \u2018proxy\u2019
estimation of origination PD.
ii) Qualitative test
This is relevant for accounts that meet the portfolio\u2019s \u2018high risk\u2019 criteria and are subject to closer credit monitoring.
High risk customers may not be in arrears but either through an event or an observed behaviour exhibit credit distress. The
definition and assessment of high risk includes as wide a range of information as reasonably available, such as industry and
Barclays Bank Group-wide customer level data, including but not limited to bureau scores and high consumer indebtedness
index, wherever possible or relevant.
Whilst the high risk populations applied for IFRS 9 impairment purposes are aligned with risk management processes, they
are also regularly reviewed and validated to ensure that they capture any incremental segments where there is evidence of
credit deterioration.
iii) Backstop criteria
This is relevant for accounts that are more than 30 calendar days past due. The 30 days past due criteria is a backstop rather
than a primary driver of moving exposures into Stage 2.
The criteria for determining a significant increase in credit risk for assets with bullet repayments follows the same principle
as all other assets, i.e. quantitative, qualitative and backstop tests are all applied.
Exposures will move back to Stage 1 once they no longer meet the criteria for a significant increase in credit risk. This means
that, at a minimum all payments must be up-to-date, the PD deterioration test is no longer met, the account is no longer
classified as high risk, and the customer has evidenced an ability to maintain future payments.
Exposures are only removed from Stage 3 and re-assigned to Stage 2 once the original default trigger event no longer
applies. Exposures being removed from Stage 3 must no longer qualify as credit impaired, and:
a) the obligor will also have demonstrated consistently good payment behaviour over a 12-month period, by making all
consecutive contractual payments due and, for forborne exposures, the relevant EBA defined probationary period has also
been successfully completed; or
b) for non-forborne exposures the performance conditions are defined and approved within an appropriately sanctioned
restructure plan, including 12 months\u2019 payment history have been met.
Management overlays and other exceptions to model outputs are applied only if consistent with the objective of identifying
significant increases in credit risk.
Forward-looking information
The measurement of ECL involves complexity and judgement, including estimation of PD, LGD, a range of unbiased future
economic scenarios, estimation of expected lives (where contractual life is not appropriate), and estimation of EAD and
assessing significant increases in credit risk.
Credit losses are the expected cash shortfalls from what is contractually due over the expected life of the financial
instrument, discounted at the original effective interest rate (EIR). ECLs are the unbiased probability-weighted credit losses
determined by evaluating a range of possible outcomes and considering future economic conditions.
Refer to the Measurement uncertainty and sensitivity analysis section on page 185 for further details.
Definition of default, credit impaired assets, write-offs, and interest income recognition
The definition of default for the purpose of determining ECLs, and for internal credit risk management purposes, has been
aligned to the Regulatory Capital CRR Article 178 definition of default, to maintain a consistent approach with IFRS 9 and
associated regulatory guidance. The Regulatory Capital CRR Article 178 definition of default considers indicators that the
debtor is unlikely to pay, includes exposures in forbearance and is no later than when the exposure is more than 90 days
past due. When exposures are identified as credit impaired at the time when they are purchased or originated, interest
income is calculated on the carrying value net of the impairment allowance.
An asset is considered credit impaired when one or more events occur that have a detrimental impact on the estimated
future cash flows of the financial asset. This comprises assets defined as defaulted and other individually assessed exposures
where imminent default or actual loss is identified.
Uncollectible loans are written off against the related allowance for loan impairment on completion of the Barclays Bank
Group\u2019s internal processes and when all reasonably expected recoverable amounts have been collected. Subsequent
recoveries of amounts previously written off are credited to the income statement. The timing and extent of write-offs may
involve some element of subjective judgement. Nevertheless, a write-off will often be prompted by a specific event, such as
the inception of insolvency proceedings or other formal recovery action, which makes it possible to establish that some or
the entire advance is beyond realistic prospect of recovery.
Accounting for purchased financial guarantee contracts
The Barclays Bank Group may enter into a financial guarantee contract which requires the issuer of such contract to
reimburse the Barclays Bank Group for a loss it incurs because a specified debtor fails to make payment when due in
accordance with the terms of a debt instrument. For these separate financial guarantee contracts, the Barclays Bank Group
recognises a reimbursement asset aligned with the recognition of the underlying ECLs, if it is considered virtually certain that
a reimbursement would be received if the specified debtor fails to make payment when due in accordance with the terms of
the debt instrument.
Loan modifications and renegotiations that are not credit-impaired
When modification of a loan agreement occurs as a result of commercial restructuring activity rather than due to the credit
risk of the borrower, an assessment must be performed to determine whether the terms of the new agreement are
substantially different from the terms of the existing agreement.\u00a0This assessment considers both the change in cash flows
arising from the modified terms as well as the change in overall instrument risk profile. In respect of payment holidays
granted to borrowers which are not due to forbearance, if the revised cash flows on a present value basis (based on the
original EIR) are not substantially different from the original cash flows, the loan is not considered to be substantially
modified.
Where terms are substantially different, the existing loan will be derecognised and a new loan will be recognised at fair value,
with any difference in valuation recognised immediately within the income statement, subject to observability criteria.
Where terms are not substantially different, the loan carrying value will be adjusted to reflect the present value of modified
cash flows discounted at the original EIR, with any resulting gain or loss recognised immediately within the income
statement as a modification gain or loss.
Expected life
Lifetime ECLs must be measured over the expected life. This is restricted to the maximum contractual life and takes into
account expected prepayment, extension, call and similar options. The exceptions are certain revolver financial instruments,
such as credit cards and bank overdrafts, that include both a drawn and an undrawn component where the entity\u2019s
contractual ability to demand repayment and cancel the undrawn commitment does not limit the entity\u2019s exposure to credit
losses to the contractual notice period. For revolving facilities, expected life is analytically derived to reflect the behavioural
life of the asset, i.e. the full period over which the business expects to be exposed to credit risk. Behavioural life is typically
based upon historical analysis of the average time to default, closure or withdrawal of facility. Where data is insufficient or
analysis inconclusive, an additional \u2018maturity factor\u2019 may be incorporated to reflect the full estimated life of the exposures,
based upon experienced judgement and/or peer analysis. Potential future modifications of contracts are not taken into
account when determining the expected life or EAD until they occur.
Discounting
ECLs are discounted at the EIR at initial recognition or an approximation thereof and consistent with income recognition. For
loan commitments the EIR is the rate that is expected to apply when the loan is drawn down and a financial asset is
recognised. Issued financial guarantee contracts are discounted at the risk-free rate. Lease receivables are discounted at the
rate implicit in the lease. For variable/floating rate financial assets, the spot rate at the reporting date is used and projections
of changes in the variable rate over the expected life are not made to estimate future interest cash flows or for discounting.
Modelling techniques
Currently, Internal Ratings-Based models are leveraged to calculate the point-in-time PD and LGD, which serve as key inputs
to the IFRS 9 models. Thereafter, these inputs are extrapolated by the IFRS 9 models to create macroeconomic sensitive
forecast of PDs, LGDs and in turn ECL.
Forbearance
A financial asset is subject to forbearance when it is modified due to the credit distress of the borrower. A modification made
to the terms of an asset due to forbearance will typically be assessed as a non-substantial modification that does not result
in derecognition of the original loan, except in circumstances where debt is exchanged for equity.
Both performing and non-performing forbearance assets are classified as Stage 3 except where it is established that the
concession granted has not resulted in diminished financial obligation and that no other regulatory definitions of default
criteria have been triggered, in which case the asset is classified as Stage 2. The minimum probationary period for non-
performing forbearance is 12 months and for performing forbearance, 24 months. Hence, a minimum of 36 months is
required for non-performing forbearance to move out of a forborne state.
No financial instrument in forbearance can transfer back to Stage 1 until all of the Stage 2 thresholds are no longer met and
can only move out of Stage 3 when no longer credit impaired.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Identification and application of management adjustments in
response to circumstances outside the scope of the model.
Estimates include modelling assumptions such as estimating
forward-looking modelled parameters (PD, EAD\u00a0 & LGD), and a range
of unbiased future economic scenarios and scenario weightings.
These estimates are considered to have a significant risk of resulting in material adjustment to the carrying amounts of
financial instruments in scope of IFRS 9 impairment within the next financial year.
IFRS 9 impairment involves several important areas of judgement, including estimating forward looking modelled
parameters (PD, LGD and EAD), developing a range of unbiased future economic scenarios, estimating expected lives and
assessing significant increases in credit risk, based on the Barclays Bank Group\u2019s experience of managing credit risk. The
determination of expected life is most material for Barclays Bank Group's credit card portfolios which is obtained via
behavioural life analysis to materially capture the risk of these facilities.
Within the retail and small businesses portfolios, which comprise large numbers of small homogenous assets with similar
risk characteristics where credit scoring techniques are generally used, the impairment allowance is calculated using forward
looking modelled parameters which are typically run at account level. There are many models in use, each tailored to a
product, line of business or customer category. Judgement and knowledge is needed in selecting the statistical methods to
use when the models are developed or revised. Management adjustments to impairment models, which contain an element
of subjectivity, are applied in order to factor in certain conditions or changes in policy that are not fully incorporated into the
impairment models, or to reflect additional facts and circumstances at the period end. Management adjustments are
reviewed and incorporated into future model development where appropriate.
For individually significant assets in Stage 3, impairment allowances are calculated on an individual basis and all relevant
considerations that have a bearing on the expected future cash flows across a range of economic scenarios are taken into
account. These considerations can be particularly subjective and can include the business prospects for the customer, the
realisable value of collateral, the Barclays Bank Group\u2019s position relative to other claimants, the reliability of customer
information and the likely cost and duration of the work-out process. The level of the impairment allowance is the difference
between the value of the discounted expected future cash flows (discounted at the loan\u2019s original effective interest rate),
and its carrying amount. Furthermore, judgements change with time as new information becomes available or as work-out
strategies evolve, resulting in frequent revisions to the impairment allowance as individual decisions are taken. Changes in
these estimates would result in a change in the allowances and have a direct impact on the impairment charge.
Temporary adjustments to calculated IFRS 9 impairment allowances may be applied in limited circumstances to account for
situations where known or expected risk factors or information have not been considered in the ECL assessment or
modelling process. For further information please see pages 183 to 184 in credit risk performance.
Accounting for income taxes
The Barclays Bank Group applies IAS 12 Income Taxes in accounting for taxes on income. Income tax payable on taxable
profits (current tax) is recognised as an expense in the periods in which the profits arise. Withholding taxes are also treated
as income taxes. Income tax recoverable on tax allowable losses is recognised as a current tax asset only to the extent that it
is regarded as recoverable by offsetting against taxable profits arising in the current or prior periods. Current tax is measured
using tax rates and tax laws that have been enacted or substantively enacted at the balance sheet date.
Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the
deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised.
Deferred tax liabilities are recognised for all taxable temporary differences except for the initial recognition of goodwill.
Deferred tax is not recognised where the temporary difference arises from the initial recognition of an asset or liability in a
transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor
taxable profit or loss. Deferred tax is determined using tax rates and legislation enacted or substantively enacted by the
balance sheet date which are expected to apply when the deferred tax asset is realised or the deferred tax liability is settled.
Deferred tax assets and liabilities are only offset when there is both a legal right to set-off and an intention to settle on a net
basis.
The Barclays Bank Group has adopted the International Tax Reform - Pillar Two Model Rules amendments to IAS 12, which
were issued on 23 May 2023 and approved by the UK Endorsement Board on 19 July 2023, and has applied the exception set
out in paragraph 4A in respect of recognising and disclosing information about deferred tax assets and liabilities related to
Pillar Two income taxes.
The Barclays Bank Group considers an uncertain tax position to exist when it considers that ultimately, in the future, the
amount of profit subject to tax may be greater than the amount initially reflected in the Barclays Bank Group\u2019s tax returns.
The Barclays Bank Group accounts for provisions in respect of uncertain tax positions in two different ways.
A current tax provision is recognised when it is considered probable that the outcome of a review by a tax authority of an
uncertain tax position will alter the amount of cash tax due to, or from, a tax authority in the future.\u00a0From recognition, the
current tax provision is then measured at the amount the Barclays Bank Group ultimately expects to pay the tax authority to
resolve the position. The accrual of interest and penalty amounts in respect of uncertain income tax positions is recognised
as an expense within profit before tax.
Deferred tax provisions are adjustments made to the carrying value of deferred tax assets in respect of uncertain tax
positions. A deferred tax provision is recognised when it is considered probable that the outcome of a review by a tax
authority of an uncertain tax position will result in a reduction in the carrying value of the deferred tax asset.\u00a0From
recognition of a provision, measurement of the underlying deferred tax asset is adjusted to take into account the expected
impact of resolving the uncertain tax position on the loss or temporary difference giving rise to the deferred tax asset.
The approach taken to measurement takes account of whether the uncertain tax position is a discrete position that will be
reviewed by the tax authority in isolation from any other position, or one of a number of issues which are expected to be
reviewed together concurrently and resolved simultaneously with a tax authority. The Barclays Bank Group\u2019s measurement
of provisions is based upon its best estimate of the additional profit that will become subject to tax. For a discrete position,
consideration is given only to the merits of that position. Where a number of issues are expected to be reviewed and
resolved together, the Barclays Bank Group will take into account not only the merits of its position in respect of each
particular issue but also the overall level of provision relative to the aggregate of the uncertain tax positions across all the
issues that are expected to be resolved at the same time. In addition, in assessing provision levels, it is assumed that tax
authorities will review uncertain tax positions and that all facts will be fully and transparently disclosed.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Recognition of deferred tax assets and determination of provisions
for uncertain tax positions.
Measurement of deferred tax balances and the level of provisioning
for uncertain tax positions.
The Barclays Bank Group does not consider there to be a significant risk of a material adjustment to the carrying amount of
current and deferred tax balances, including provisions for uncertain tax positions in the next financial year. The provisions
for uncertain tax positions cover a diverse range of issues and reflect advice from external counsel where relevant.\u00a0It should
be noted that only a proportion of the total uncertain tax positions will be under audit at any point in time, and could
therefore be subject to challenge by a tax authority over the next year.
Deferred tax assets have been recognised based on business profit forecasts which included consideration for the current
view of climate impacts. Details on the recognition of deferred tax assets are provided in this note.
Accounting for trading portfolio assets and liabilities
All assets and liabilities held for trading purposes are held at fair value with gains and losses in the changes in fair value
taken to the income statement in net trading income (Note 5).
Accounting for financial assets designated at fair value
Financial assets, other than those held for trading, are classified in this category if they are so irrevocably designated at
inception and the use of the designation removes or significantly reduces an accounting mismatch.
Subsequent changes in fair value for these instruments are recognised in the income statement in net investment income,
except if reporting it in trading income reduces an accounting mismatch.
The details on how the fair value amounts are derived for financial assets at fair value are described in Note 16.
Accounting for financial assets mandatorily at fair value
Financial assets that are held for trading are recognised at fair value through profit or loss. In addition, financial assets are
held at fair value through profit or loss if they do not contain contractual terms that give rise on specified dates to cash
flows that are Solely Payments of Principal and Interest (SPPI), or if the financial asset is not held in a business model that is
either (i) a business model to collect the contractual cash flows or (ii) a business model that is achieved by both collecting
contractual cash flows and selling.
Accounting for derivatives
Derivative instruments are contracts whose value is derived from one or more underlying financial instruments or indices
defined in the contract. They include swaps, forward-rate agreements, futures, options and combinations of these
instruments and primarily affect the Barclays Bank Group\u2019s net interest income, net trading income and derivative assets and
liabilities. Notional amounts of the contracts are not recorded on the balance sheet. Derivatives are used to hedge interest
rate, credit risk, inflation risk, exchange rate, commodity, equity exposures and exposures to certain indices such as house
price indices and retail price indices related to non-trading positions.
All derivative instruments are held at fair value through profit or loss, except for derivatives that are in a designated cash
flow or net investment hedge accounting relationship. Derivatives are classified as assets when their fair value is positive or
as liabilities when their fair value is negative.
Hedge accounting
The Barclays Bank Group applies the requirements of IAS 39 Financial Instruments: Recognition and Measurement for hedge
accounting purposes. The Barclays Bank Group applies hedge accounting to represent the economic effects of its interest
rate, currency and contractually linked inflation risk management strategies. Where derivatives are held for risk management
purposes, and when transactions meet the required criteria for documentation and hedge effectiveness, the Barclays Bank
Group applies fair value hedge accounting, cash flow hedge accounting, or hedging of a net investment in a foreign
operation, as appropriate to the risks being hedged.
Fair value hedge accounting
Changes in fair value of derivatives that qualify and are designated as fair value hedges are recorded in the income
statement, together with changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The
fair value changes adjust the carrying value of the hedged asset or liability held at amortised cost.For hedged items classified
as fair value through other comprehensive income, fair value movements attributable to the hedged risk are transferred from
other comprehensive income to the income statement.
If hedge relationships no longer meet the criteria for hedge accounting, hedge accounting is discontinued. For fair value
hedges of interest rate risk, the fair value adjustment to the hedged item is amortised to the income statement over the
period to maturity of the previously designated hedge relationship using the effective interest method. If the hedged item is
sold or repaid, the unamortised fair value adjustment is recognised immediately in the income statement.
Cash flow hedge accounting
For qualifying cash flow hedges, the fair value gain or loss associated with the effective portion of the cash flow hedge is
recognised initially in other comprehensive income, and then recycled to the income statement in the periods when the
hedged item will affect profit or loss. Any ineffective portion of the gain or loss on the hedging instrument is recognised in
the income statement immediately.
When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any
cumulative gain or loss existing in equity at that time remains in equity and is recognised when the hedged item is ultimately
recognised in the income statement. When a forecast transaction is no longer expected to occur, the cumulative gain or loss
that was recognised in equity is immediately transferred to the income statement.
Hedges of net investments
The Barclays Bank Group\u2019s net investments in foreign operations, including monetary items accounted for as part of the net
investment, are hedged for foreign currency risks using both derivatives and foreign currency borrowings. Hedges of net
investments are accounted for similarly to cash flow hedges; the effective portion of the gain or loss on the hedging
instrument is being recognised directly in other comprehensive income and the ineffective portion being recognised
immediately in the income statement. The cumulative gain or loss recognised in other comprehensive income is recognised
in the income statement on the disposal or partial disposal of the foreign operation, or other reductions in the Barclays Bank
Group\u2019s investment in the operation.
Accounting for financial assets at fair value through other comprehensive income (FVOCI)
Financial assets that are debt instruments held in a business model that is achieved by both collecting contractual cash
flows and selling and that contain contractual terms that give rise on specified dates to cash flows that are SPPI are
measured at FVOCI. They are subsequently re-measured at fair value and changes therein (except for those relating to
impairment, interest income and foreign currency exchange gains and losses) are recognised in other comprehensive
income until the assets are sold. Interest (calculated using the effective interest method) is recognised in the income
statement in net interest income (Note 3). Upon disposal, the cumulative gain or loss in other comprehensive income is
included in net investment income (Note 6).
In determining whether the business model is achieved by both collecting contractual cash flows and selling financial
assets, it is determined that both collecting contractual cash flows and selling financial assets are integral to achieving the
objective of the business model. The Barclays Bank Group will consider past sales and expectations about future sales to
establish if the business model is achieved.
Accounting for liabilities designated at fair value through profit and loss
The Barclays Bank Group has the ability to make the fair value designation when holding the instruments at fair value
reduces an accounting mismatch (caused by an offsetting liability or asset being held at fair value), or is managed by the
Barclays Bank Group on the basis of its fair value, or includes terms that have substantive derivative characteristics (Note
13). In accordance with IFRS 9, financial liabilities may be designated at fair value, with gains and losses taken to the
income statement within net trading income (Note 5) and net investment income (Note 6). Movements in own credit are
reported through other comprehensive income, unless the effects of changes in the liability's credit risk would create or
enlarge an accounting mismatch in profit and loss. In these scenarios, all gains and losses on that liability (including the
effects of changes in the credit risk of the liability) are presented in profit and loss. On derecognition of the financial liability
no amounts relating to own credit risk are recycled to the income statement. The details on how the fair value amounts are
arrived at for financial liabilities designated at fair value are described in Note 16.
Accounting for financial assets and liabilities \u2013 fair value
Financial instruments that are held for trading are recognised at fair value through profit or loss. In addition, financial assets
are held at fair value through profit or loss if they do not contain contractual terms that give rise on specified dates to cash
flows that are SPPI, or if the financial asset is not held in a business model that is either (i) a business model to collect the
contractual cash flows or (ii) a business model that is achieved by both collecting contractual cash flows and selling.
Subsequent changes in fair value for these instruments are recognised in the income statement in net investment income,
except if reporting it in trading income reduces an accounting mismatch.
Wherever possible, fair value is determined by reference to a quoted market price for that instrument. For many of the
Barclays Bank Group\u2019s financial assets and liabilities, including derivatives, quoted prices are not available and valuation
models are used to estimate fair value. The models calculate the expected cash flows under the terms of each specific
contract and then discount these values back to a present value. These models use as their basis independently sourced
market inputs including, for example, interest rate yield curves, equities and commodities prices, option volatilities and
currency rates.
For financial liabilities measured at fair value, the carrying amount also reflects the effect on fair value of changes in own
credit spreads derived from observable market data such as in primary issuance and redemption activity for structured
notes.
The Barclays Bank Group uses the portfolio exemption in IFRS 13 Fair Value Measurement to measure the fair value of
groups of financial assets and liabilities. Financial instruments are measured using the price that would be received to sell a
net long position (i.e. an asset) for a particular risk exposure or to transfer a net short position (i.e. a liability) for a particular
risk exposure in an orderly transaction between market participants at the balance sheet date under current market
conditions. Accordingly, Barclays Bank Group measures the fair value of the group of financial assets and liabilities
consistently with how market participants would price the net risk exposure at the measurement date.
On initial recognition, the transaction price often reflects the fair value of the asset or liability.\u00a0 However, in some
circumstances, fair value may differ to the transaction price when there is information to the contrary. If the fair value of the
instrument is observable from current market transactions in the same instrument, or based on a valuation technique whose
inputs only include observable inputs, then the instrument is initially recognised at fair value and the difference to the
transaction price is recognised in profit or loss.
For valuations that have made use of unobservable inputs, the difference between the model valuation and the initial
transaction price (day one profit) is recognised in profit or loss either: on a straight-line basis over the term of the
transaction; or over the period until all inputs will become observable where appropriate; or released in full when previously
unobservable inputs become observable.
Various factors influence the availability of observable inputs, and these may vary from product to product and change over
time. Factors include the depth of activity in the relevant market, the type of product, whether the product is new and not
widely traded in the marketplace, the maturity of market modelling and the nature of the transaction (bespoke or generic).
To the extent that valuation is based on models or inputs that are not observable in the market, the determination of fair
value can be more subjective, dependent on the significance of the unobservable input to the overall valuation.
Unobservable inputs are determined based on the best information available, for example by reference to similar assets,
similar maturities, or other analytical techniques.
The sensitivity of valuations used in the financial statements to possible changes in significant unobservable inputs is shown
on page 346.
Valuation Control Framework
The Barclays Group has an established valuation control framework that oversees valuation methodologies, standards and
procedures.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Classification of financial instruments with significant unobservable
inputs as Level 3.
Valuation of Level 3 assets and liabilities are typically determined by
referencing observable inputs, historical data, or employing other
analytical techniques.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
financial assets and financial liabilities measured at fair value within the next financial year.
The valuation of financial instruments often involves a significant degree of judgement and complexity, in particular where
valuation models make use of unobservable inputs (\u2018Level 3\u2019 assets and liabilities). This note provides information on these
instruments, including the related unrealised gains and losses recognised in the period, a description of significant valuation
techniques and unobservable inputs, and a sensitivity analysis.
For assets and liabilities traded in active markets, it is determined that the market valuation includes a representation of the
prevailing view of climate-related risks. Within less active markets, for counterparties and instruments identified as being
more susceptible to climate change risk, an impact assessment was performed through increasing their probability of
default. The change in valuation of the assets and liabilities from this assessment was sufficiently immaterial to necessitate
any amendment to the reported 2025 year-end valuations.
The Barclays Bank Group reports financial assets and financial liabilities on a net basis on the balance sheet only if there is a
legally enforceable right to set-off the recognised amounts and there is intention to settle on a net basis, or to realise the
asset and settle the liability simultaneously. The following table shows the impact of netting arrangements on:
\u25aa All financial assets and liabilities that are reported net on the balance sheet.
\u25aa All derivative financial instruments and reverse repurchase and repurchase agreements and other similar secured lending
and borrowing agreements that are subject to enforceable master netting arrangements or similar agreements, but do not
qualify for balance sheet netting.
Accounting for property, plant and equipment
Property, plant and equipment is stated at cost, which includes direct and incremental acquisition costs less accumulated
depreciation and provisions for impairment, if required. Subsequent costs are capitalised if these result in enhancement of
the asset.
Depreciation is provided on the depreciable amount of items of property, plant and equipment on a straight-line basis over
their estimated useful economic lives. Depreciation rates, methods and the residual values underlying the calculation of
depreciation of items of property, plant and equipment are kept under review to take account of any change in
circumstances including consideration on future Climate and Sustainability investments.
The Barclays Bank Group and Barclays Bank PLC use the following annual rates in calculating depreciation:
Annual rates in calculating depreciation
Depreciation rate
Freehold land
Not depreciated
Freehold buildings
2%- 3.3%
Leasehold property
Over the remaining life of the lease
Costs of adaptation of freehold and leasehold property
6%- 10%
Equipment installed in freehold and leasehold property
6%- 10%
Computers and similar equipment
17%- 33%
Fixtures and fittings and other equipment
9%- 20%
Costs of adaptation and installed equipment are depreciated over the shorter of the life of the lease or the depreciation rates
noted in the table above.
Accounting for leases
When the Barclays Bank Group or Barclays Bank PLC are the lessee, they are required to recognise both:
\u25aa a lease liability, measured at the present value of remaining cash flows on the lease
\u25aa a right of use (ROU) asset, measured at the amount of the initial measurement of the lease liability, plus any lease
payments made prior to commencement date, initial direct costs, and estimated costs of restoring the underlying asset to
the condition required by the lease, less any lease incentives received.
Subsequently the lease liability will increase for the accrual of interest, resulting in a constant rate of return throughout the
life of the lease, and reduce when payments are made. The right of use asset will amortise to the income statement over the
life of the lease.
On the balance sheet, the ROU assets are included within property, plant and equipment and the lease liabilities are included
within other liabilities.
The Barclays Bank Group and Barclays Bank PLC apply the recognition exemption in IFRS 16 for leases with a term not
exceeding 12 months. For these leases the lease payments are recognised as an expense on a straight line basis over the
lease term unless another systematic basis is more appropriate.
When the Barclays Bank Group or Barclays Bank PLC are the lessor, the lease must be classified as either a finance lease or
an operating lease. A finance lease is a lease which confers substantially all the risks and rewards of the leased assets on the
lessee. An operating lease is a lease where substantially all of the risks and rewards of the leased asset remain with the
lessor.
Accounting for goodwill and intangible assets
Goodwill
Goodwill arising on the acquisition of subsidiaries represents the excess of the fair value of the purchase consideration over
the fair value of the Barclays Bank Group\u2019s share of the assets acquired and the liabilities and contingent liabilities assumed
on the date of the acquisition.
Goodwill is reviewed annually for impairment, or more frequently when there are indications that impairment may have
occurred. The test involves comparing the carrying value of the cash generating unit (CGU) including goodwill with the
present value of the pre-tax cash flows, discounted at a rate of interest that reflects the inherent risks, of the CGU to which
the goodwill relates, or the CGUs fair value if this is higher.
Intangible assets
Intangible assets are initially recognised when they are separable or arise from contractual or other legal rights, the cost can
be measured reliably and, in the case of intangible assets not acquired in a business combination, where it is probable that
future economic benefits attributable to the assets will flow from their use.
For internally generated intangible assets, only costs incurred during the development phase are capitalised. Expenditure in
the research phase is expensed when it is incurred.
Intangible assets are stated at cost (which is, in the case of assets acquired in a business combination, the acquisition date
fair value) less accumulated amortisation and provisions for impairment, if any, and are amortised over their useful lives in a
manner that reflects the pattern to which they contribute to future cash flows, generally using the amortisation periods set
out below:
Annual rates in calculating amortisation
Amortisation period
Goodwill
Not amortised
Internally generated software1
12 months to 6 years
Other software
12 months to 6 years
Customer lists
12 months to 25 years
Licences and other
12 months to 25 years
Note
1Exceptions to the above period relate to useful lives of certain core banking platforms that are assessed individually and, if appropriate, amortised
over longer periods ranging from 10 years to 15 years.
Intangible assets are reviewed for impairment when there are indications that impairment may have occurred. Intangible
assets not yet available for use are reviewed annually for impairment.
Accounting for provisions
Provisions are recognised for present obligations arising as consequences of past events where it is more likely than not that
a transfer of economic benefit will be necessary to settle the obligation, which can be reliably estimated.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Determination as to whether a present obligation exists.
Estimation uncertainty in the probability, timing, nature and quantum
of outflows.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
provisions within the next financial year.
The financial reporting of provisions involves a significant degree of judgement and is complex. Identifying whether a
present obligation exists and estimating the probability, timing, nature and quantum of the outflows that may arise from
past events requires judgements to be made based on the specific facts and circumstances relating to individual events and
often requires specialist professional advice. When matters are at an early stage, accounting judgements and estimates can
be difficult because of the high degree of uncertainty involved. Management continues to monitor matters as they develop
to re-evaluate on an ongoing basis whether provisions should be recognised, however there can remain a wide range of
possible outcomes and uncertainties, particularly in relation to legal, competition and regulatory matters, and as a result it is
often not practicable to make meaningful estimates even when matters are at a more advanced stage.
The amount that is recognised as a provision can also be very sensitive to the assumptions made in calculating it. This gives
rise to a large range of potential outcomes which require judgement in determining an appropriate provision level. See Note
24 for more detail of legal, competition and regulatory matters.
Accounting for contingent liabilities
Contingent liabilities are possible obligations whose existence will be confirmed only by uncertain future events and present
obligations where the transfer of economic resources is uncertain or cannot be reliably measured. Contingent liabilities are
not recognised on the balance sheet but are disclosed unless the likelihood of an outflow of economic resources is remote.
Accounting for subordinated liabilities
Subordinated liabilities are measured at amortised cost using the effective interest method under IFRS 9, unless they are
irrevocably designated at fair value through profit or loss at initial recognition because such designation eliminates or
significantly reduces an accounting mismatch. Refer to Note 15 for details about accounting for liabilities designated at fair
value through profit or loss.
Accounting for staff costs
Deferred cash and share awards are made to employees to incentivise performance over the period employees provide
services. To receive an award, an individual must have provided service over the vesting period and been employed on the
scheduled vesting date or be considered an eligible leaver. The expense for deferred cash and share awards is recognised
over the period employees\u2019 services contribute to the awards. The Barclays Bank Group considers it appropriate to recognise
the expense over the vesting period including the financial year prior to the grant date.
The accounting policies for share-based payments and retirement benefits are included in Note 29 and Note 30 respectively.
Accounting for share-based payments
Employee incentives include awards in the form of shares and share options, as well as offering employees the opportunity
to purchase shares on favourable terms. The cost of the employee services received in respect of the shares or share options
granted is recognised in the income statement over the period that employees provide services. The overall cost of the
award is calculated using the number of shares and options expected to vest and the fair value of the shares or options at
the date of grant.
The number of shares and options expected to vest takes into account the likelihood that applicable performance and
service conditions included in the terms of the awards will be met. For other share-based payment schemes such as
Sharesave and Sharepurchase, there are non-vesting conditions which must be met. Failure to meet the non-vesting
condition is treated as a cancellation, resulting in an acceleration of recognition of the cost of the employee services.
The fair value of shares is the market price ruling on the grant date, in some cases adjusted to reflect restrictions on
transferability. The fair value of options granted is determined using the Black-Scholes model to estimate the numbers of
shares likely to vest. The model takes into account the exercise price of the option, the current share price, the risk-free
interest rate, the expected volatility of the share price over the life of the option and other relevant factors. Market conditions
that must be met in order for the award to vest are also reflected in the fair value of the award, as are any other non-vesting
conditions \u2013 such as continuing to make payments into a share-based savings scheme.
Accounting for retirement benefits
The Barclays Bank Group operates a number of pension schemes and post-employment benefit schemes.
Defined contribution \u2013 the Barclays Bank Group recognises contributions due in respect of the accounting period in the
income statement. Any contributions unpaid at the balance sheet date are included as a liability.
Defined benefit \u2013 the Barclays Bank Group recognises its obligations to members of each scheme at the period end, less the
fair value of the scheme assets after applying the asset ceiling test.
Each scheme\u2019s obligations are calculated using the projected unit credit method. Scheme assets are stated at fair value as at
the period end.
Changes in pension scheme liabilities or assets (remeasurements) that do not arise from regular pension cost, net interest
on net defined benefit liabilities or assets, past service costs, settlements or contributions to the scheme are recognised in
other comprehensive income. Remeasurements comprise experience adjustments (differences between previous actuarial
assumptions and what has actually occurred), the effects of changes in actuarial assumptions, return on scheme assets
(excluding amounts included in the interest on the assets) and any changes in the effect of the asset ceiling restriction
(excluding amounts included in the interest on the restriction).
The cost of providing healthcare benefits to retired employees is accrued as a liability in the financial statements over the
period that the employees provide services to the Barclays Bank Group, using a methodology similar to that for defined
benefit pension schemes.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Estimates
Valuation of defined benefit scheme obligations are dependent on a number of assumptions, the most critical being discount rates, price
inflation, and life expectancy.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amount of
defined benefit obligations within the next financial year.
Below is a summary of the main financial and demographic assumptions adopted for the Barclays Bank Section of the UKRF.
Key financial assumptions
2025
2024
Barclays Bank
Section
Total UKRF
% p.a.
% p.a.
Discount rate
5.46
5.44
Inflation rate (RPI)
2.92
3.32
The Barclays Bank Section of the UKRF discount rate assumption for 2025 was based on a standard WTW RATE Link model.
The RPI inflation assumption for 2025 was set by reference to the Bank of England\u2019s implied inflation curve. The inflation
assumption incorporates a deduction of 20 basis points as an allowance for an inflation risk premium. The methodology
used to derive the discount rate and inflation assumptions is consistent with that used at the prior year end.
The Barclays Bank Section of the UKRF post-retirement mortality assumptions are based on best estimates derived from an
analysis in 2022 of the UKRF\u2019s own post-retirement mortality experience and taking account of recent evidence from
published mortality surveys. An allowance has been made for future mortality improvements based on the 2024 core
projection model published by the Continuous Mortality Investigation Bureau subject to a long-term trend of 1.10% per
annum in future improvements (2024 : 1.25% per annum). The table below shows how the assumed life expectancy, for
members of the Barclays Bank Section of the UKRF (2024: whole UKRF), has changed since last year:
Assumed life expectancy1
2025
2024
Life expectancy at 60 for current pensioners (years)
\u2013 Males
26.6
26.5
\u2013 Females
29.3
29.4
Life expectancy at 60 for future pensioners currently aged 40 (years)
\u2013 Males
28.0
28.0
\u2013 Females
30.6
30.8
Note:
1\u00a0 The life expectancies disclosed are in respect of a population of the membership that represents c60% of the Defined Benefit Obligation of the
Barclays Bank Section of the UKRF (excluding the Afterwork section which has no post-retirement mortality risk) with the remaining members
having life expectancy at age 60 of between 26.4 years and 29.3 years.
Approximately, 70% of the longevity risk for current pensioners has been reinsured and the transactions will provide income
to the Barclays Bank Section of the UKRF if pensions are paid out for longer than expected. The contracts form part of the
investment portfolio.
Sensitivity analysis on actuarial assumptions
The sensitivity analysis has been calculated by valuing the Barclays Bank Section of the UKRF liabilities using the amended
assumptions shown in the table below and keeping the remaining assumptions the same as disclosed in the table above,
except in the case of the inflation sensitivity where other assumptions that depend on assumed inflation have also been
amended correspondingly. The difference between the recalculated liability figure and that stated in the balance sheet
reconciliation table above is the figure shown. The selection of these movements to illustrate the sensitivity of the defined
benefit obligation to key assumptions should not be interpreted as the Barclays Bank Group expressing any specific view of
the probability of such movements happening.
Change in key assumptions for the Barclays Bank Section of the UKRF (2024: whole UKRF)
2025
2024
(Decrease)/Increase in
defined benefit
obligation
(Decrease)/Increase in
defined benefit
obligation
\u00a3bn
\u00a3bn
Discount rate
0.5% p.a. increase
(0.9)
(1.0)
0.25% p.a. increase
(0.4)
(0.5)
0.25% p.a. decrease
0.5
0.5
0.5% p.a. decrease
1.0
1.1
Assumed RPI
0.5% p.a. increase
0.7
0.7
0.25% p.a. increase
0.3
0.3
0.25% p.a. decrease
(0.3)
(0.4)
0.5% p.a. decrease
(0.6)
(0.7)
Life expectancy at 60
One year increase
0.5
0.5
1 Year decrease
(0.5)
(0.5)
Accounting for investment in subsidiaries
In the individual financial statements of Barclays Bank PLC, investments in subsidiaries are stated at cost less impairment.
Accounting for securitisations
The Barclays Bank Group uses securitisations as a source of finance and a means of risk transfer. Such transactions generally
result in the transfer of contractual cash flows from portfolios of financial assets to holders of issued debt securities.
Securitisations may, depending on the individual arrangement, result in continued recognition of the securitised assets and
the recognition of the debt securities issued in the transaction; lead to partial continued recognition of the assets to the
extent of the Barclays Bank Group\u2019s continuing involvement in those assets or lead to derecognition of the assets and the
separate recognition, as assets or liabilities, of any rights and obligations created or retained in the transfer. Full
derecognition only occurs when the Barclays Bank Group transfers both its contractual right to receive cash flows from the
financial assets, or retains the contractual rights to receive the cash flows, but assumes a contractual obligation to pay the
cash flows to another party without material delay or reinvestment, and also transfers substantially all the risks and rewards
of ownership, including credit risk, prepayment risk and interest rate risk.
Assets are pledged or transferred as collateral to secure liabilities under repurchase agreements, securitisations and stock
lending agreements or as security deposits relating to derivatives. Assets transferred are non-cash assets transferred to a
third party that do not qualify for derecognition from the Barclays Bank Group\u2019s balance sheet, for example because the
Barclays Bank Group retains substantially all the exposure to those assets under an agreement to repurchase them in the
future for a fixed price.
Where non-cash assets are pledged or transferred as collateral for cash received, the asset continues to be recognised in full,
and a related liability is also recognised on the balance sheet. Where non-cash assets are pledged or transferred as collateral
in an exchange for non-cash assets, the transferred asset continues to be recognised in full, and there is no associated
liability as the non-cash collateral received is not recognised on the balance sheet. The Barclays Bank Group is unable to use,
sell or pledge the transferred assets for the duration of the transaction and remains exposed to interest rate risk and credit
risk on these pledged assets. Unless stated, the counterparty's recourse is not limited to the transferred assets.
Collateralised transactions, such as securities lending and borrowing, repurchase and derivative transactions are conducted
in accordance with standard terms which are customary in the market.
Related party transactions
Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over
the other party in making financial or operational decisions, or one other party controls both.
Accounting for non-current assets held for sale and associated liabilities
The Barclays Bank Group applies IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. Non-current assets
(or disposal groups) are classified as held for sale when their carrying amount is to be recovered principally through a sale
transaction rather than continuing use. In order to be classified as held for sale, the asset must be available for immediate
sale in its present condition subject only to terms that are usual and customary, and the sale must be highly probable. Non-
current assets (or disposal groups) held for sale are measured at the lower of carrying amount and fair value less cost to sell.
Assets and liabilities classified as held for sale are presented separately in the consolidated balance sheet.\u00a0
Management judgement is required in determining whether the IFRS 5 held for sale classification criteria are met, in
particular whether the sale is highly probable and expected to qualify for recognition as a completed sale within 12 months
of classification. This assessment requires consideration of how committed management is to the sales plan, the likelihood
of obtaining regulatory or other external approvals which is often required for sales of banking operations and how
committed the buyer is to complete the sales transaction within the agreed timelines.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-514": { "value": "Reporting entity
Barclays Bank PLC is a public company limited by shares registered in England under company number 1026167, having its
registered office at 1 Churchill Place, London, E14 5HP.
These financial statements are prepared for Barclays Bank PLC and its subsidiaries (the Barclays Bank Group) under Section
399 of the Companies Act 2006. The Barclays Bank Group is a major global financial services provider engaged in credit
cards, wholesale banking, investment banking, wealth management and investment management services. In addition,
separate financial statements have been presented for the holding company.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-515": { "value": "public company limited by shares", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-516": { "value": "England", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-517": { "value": "England", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-518": { "value": "1 Churchill Place, London, E14 5HP", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-519": { "value": "1 Churchill Place, London, E14 5HP", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-520": { "value": "The Barclays Bank Group is a major global financial services provider engaged in credit cards, wholesale banking, investment banking, wealth management and investment management services.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-521": { "value": "Compliance with International Financial Reporting Standards
The consolidated financial statements of the Barclays Bank Group, and the separate financial statements of Barclays Bank
PLC, have been prepared in accordance with UK-adopted international accounting standards.
The consolidated financial statements of the Barclays Bank Group, and the separate financial statements of Barclays Bank
PLC, have also been prepared in accordance with (1) International Financial Reporting Standards (IFRS) as issued by the
International Accounting Standards Board (IASB), including interpretations issued by the IFRS Interpretations Committee, as
there are no applicable differences from IFRS as issued by the IASB for the periods presented; and (2) IFRS adopted pursuant
to Regulation (EC) No. 1606/2002 as it applies in the European Union (\u201cIFRS as adopted by the EU\u201d).
There are currently no differences between UK-adopted international accounting standards and IFRS as adopted by the EU
and therefore no reconciliation of variances is provided.
The principal accounting policies applied in the preparation of the consolidated and separate financial statements are set out
below, and in the relevant notes to the financial statements. These policies have been consistently applied.
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-522": { "value": "Basis of preparation
The consolidated and separate financial statements have been prepared under the historical cost convention modified to the
extent required or permitted under IFRS as set out in the relevant accounting policies. The financial statements are stated in
millions of Pounds Sterling (\u00a3m), the functional currency of Barclays Bank PLC.
The financial statements have been prepared on a going concern basis, in accordance with the Companies Act 2006 as
applicable to companies using IFRS. The financial statements are prepared on a going concern basis as the Board is satisfied
that the Barclays Bank Group and parent company have the resources to continue in business for a period of at least 12
months from approval of the financial statements.
In making this assessment, the Board has considered a wide range of information relating to present and future conditions
and has reviewed a working capital report (WCR). The WCR is used by the Board to assess the future performance of the
Barclays Bank Group and whether it has the resources in place that are required to meet its ongoing regulatory
requirements. The WCR assessment is based upon business plans which contain future forecasts of profitability taken from
the Barclays Bank Group\u2019s medium term plan as well as projections of regulatory capital requirements and business funding
needs. The WCR also includes an assessment of the impact of internally generated stress testing scenarios on the liquidity
and capital requirement forecasts. The stress tests used were based upon an assessment of reasonably possible downside
economic scenarios that the Barclays Bank Group could experience.
The WCR showed that the Barclays Bank Group had sufficient capital and liquidity in place to support its future business
requirements and remained above its regulatory minimum requirements in the stress scenarios. Accordingly, the Board
concluded that there was a reasonable expectation that the Barclays Bank Group has adequate resources to continue as a
going concern for a period of at least 12 months from the date of approval of the financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-523": { "value": "
The consolidated and separate financial statements have been prepared under the historical cost convention modified to the
extent required or permitted under IFRS as set out in the relevant accounting policies. The financial statements are stated in
millions of Pounds Sterling (\u00a3m), the functional currency of Barclays Bank PLC.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-524": { "value": "
The financial statements have been prepared on a going concern basis, in accordance with the Companies Act 2006 as
applicable to companies using IFRS. The financial statements are prepared on a going concern basis as the Board is satisfied
that the Barclays Bank Group and parent company have the resources to continue in business for a period of at least 12
months from approval of the financial statements.
In making this assessment, the Board has considered a wide range of information relating to present and future conditions
and has reviewed a working capital report (WCR). The WCR is used by the Board to assess the future performance of the
Barclays Bank Group and whether it has the resources in place that are required to meet its ongoing regulatory
requirements. The WCR assessment is based upon business plans which contain future forecasts of profitability taken from
the Barclays Bank Group\u2019s medium term plan as well as projections of regulatory capital requirements and business funding
needs. The WCR also includes an assessment of the impact of internally generated stress testing scenarios on the liquidity
and capital requirement forecasts. The stress tests used were based upon an assessment of reasonably possible downside
economic scenarios that the Barclays Bank Group could experience.
The WCR showed that the Barclays Bank Group had sufficient capital and liquidity in place to support its future business
requirements and remained above its regulatory minimum requirements in the stress scenarios. Accordingly, the Board
concluded that there was a reasonable expectation that the Barclays Bank Group has adequate resources to continue as a
going concern for a period of at least 12 months from the date of approval of the financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-525": { "value": "Consolidation
The consolidated financial statements combine the financial statements of Barclays Bank PLC and all its subsidiaries.
Subsidiaries are entities over which Barclays Bank PLC has control. The Barclays Bank Group has control over another entity
when the Barclays Bank Group has all of the following:
1) power over the relevant activities of the investee, for example through voting or other rights;
2) exposure to, or rights to, variable returns from its involvement with the investee; and
3) the ability to affect those returns through its power over the investee.
As the consolidated financial statements include partnerships where the Barclays Bank Group member is a partner,
advantage has been taken of the exemption under Regulation 7 of the Partnership (Accounts) Regulations 2008 with regard
to preparing and filing of individual partnership financial statements.
Details of the principal subsidiaries are given in Note 31.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-526": { "value": "Foreign currency translation
Transactions in foreign currencies are translated into Sterling at the rate ruling on the date of the transaction. Foreign
currency monetary balances are translated into Sterling at the period end exchange rates. Exchange gains and losses on
such balances are taken to the income statement.\u00a0
The Barclays Bank Group\u2019s foreign operations (including subsidiaries, joint ventures, associates and branches) based mainly
outside the UK may have different functional currencies. The functional currency of an operation is the currency of the main
economy to which it is exposed.
Prior to consolidation (or equity accounting) the assets and liabilities of non-Sterling operations are translated at the period
end exchange rate and items of income, expense and other comprehensive income are translated into Sterling at the rate on
the date of the transactions. Exchange differences arising on the translation of foreign operations are included in currency
translation reserves within equity. These are transferred to the income statement when the Barclays Bank Group disposes of
the entire interest in a foreign operation, when partial disposal results in the loss of control of an interest in a subsidiary,
when an investment previously accounted for using the equity method is accounted for as a financial asset, or on the
disposal of a foreign operation within a branch.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-528": { "value": "Financial assets and liabilities
Recognition
The Barclays Bank Group recognises financial assets and liabilities when it becomes a party to the terms of the contract.
Trade date or settlement date accounting is applied depending on the classification of the financial asset.
Classification and measurement
Financial assets are classified on the basis of two criteria:
i) the business model within which financial assets are managed; and
ii) their contractual cash flow characteristics (whether the cash flows represent \u2018solely payments of principal and
interest\u2019 (SPPI)).
The Barclays Bank Group assesses the business model criteria at a portfolio level. Information that is considered in
determining the applicable business model includes (i) policies and objectives for the relevant portfolio, (ii) how the
performance and risks of the portfolio are managed, evaluated and reported to management, and (iii) the frequency, volume
and timing of sales in prior periods, sales expectation for future periods, and the reasons for such sales.
The contractual cash flow characteristics of financial assets are assessed with reference to whether the cash flows represent
SPPI. Terms that could change the contractual cash flows so that it would not meet the condition for SPPI are considered,
including: (i) contingent and leverage features, (ii) non-recourse arrangements, (iii) features that could modify the time
value of money, and (iv) Social, Environmental and Sustainability-linked features. Terms with de-minimis impact do not
preclude cash flows from representing SPPI.
The accounting policy for each type of financial asset or liability is included within the relevant note for the item. The
Barclays Bank Group\u2019s policies for determining the fair values of the assets and liabilities are set out in Note 16.
Derecognition
The Barclays Bank Group derecognises a financial asset, or a portion of a financial asset, from its balance sheet where (i) the
contractual rights to cash flows from the asset have expired, or (ii) the contractual rights to the cash flows from the asset
have been transferred (usually by sale) and with them either (a) substantially all the risks and rewards of the asset have been
transferred, or (b) where neither substantially all the risks and rewards have been transferred or retained, where control over
the asset has been lost.
It may not be obvious whether substantially all of the risks and rewards of a transferred asset, or portion of an asset, have
been transferred. It is often necessary to perform a quantitative analysis that compares the Barclays Bank Group's exposure
to variability in asset cash flows before the transfer with its retained exposure after the transfer. A cash flow analysis of this
nature may require judgement. In particular, it is necessary to estimate the asset\u2019s expected future cash flows as well as
potential variability around this expectation. The method of estimating expected future cash flows depends on the nature of
the asset, with market and market-implied data used to the greatest extent possible. The potential variability around this
expectation is typically determined by stressing underlying parameters to create reasonable alternative upside and downside
scenarios. Probabilities are then assigned to each scenario. Stressed parameters may include default rates, loss severity, or
prepayment rates.
Financial liabilities are de-recognised when the liability has been settled, has expired or has been extinguished. An exchange
of an existing financial liability for a new liability with the same lender on substantially different terms \u2013 generally a difference
of 10% or more in the present value of the cash flows or a substantive qualitative amendment \u2013 is accounted for as an
extinguishment of the original financial liability and the recognition of a new financial liability.
Accounting for reverse repurchase and repurchase agreements including other similar lending and borrowing
Reverse repurchase agreements (and stock borrowing or similar transactions) are a form of secured lending whereby the
Barclays Bank Group provides a loan or cash collateral in exchange for the transfer of collateral, generally in the form of
marketable securities subject to an agreement to transfer the securities back at a fixed price in the future. Repurchase
agreements are where the Barclays Bank Group obtains such loans or cash collateral, in exchange for the transfer of
collateral.
The Barclays Bank Group purchases (a reverse repurchase agreement) or borrows securities subject to a commitment to
resell or return them. The securities are not included in the balance sheet as the Barclays Bank Group does not acquire the
risks and rewards of ownership. Consideration paid (or cash collateral provided) is accounted for as a loan asset at
amortised cost, unless it is designated or mandatorily at fair value through profit and loss.
The Barclays Bank Group may also sell (a repurchase agreement) or lend securities subject to a commitment to repurchase
or redeem them. The securities are retained on the balance sheet as the Barclays Bank Group retains substantially all the
risks and rewards of ownership. Consideration received (or cash collateral provided) is accounted for as a financial liability at
amortised cost, unless it is designated at fair value through profit and loss.
Accounting for trading portfolio assets and liabilities
All assets and liabilities held for trading purposes are held at fair value with gains and losses in the changes in fair value
taken to the income statement in net trading income (Note 5).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-527": { "value": "Financial assets and liabilities
Recognition
The Barclays Bank Group recognises financial assets and liabilities when it becomes a party to the terms of the contract.
Trade date or settlement date accounting is applied depending on the classification of the financial asset.
Classification and measurement
Financial assets are classified on the basis of two criteria:
i) the business model within which financial assets are managed; and
ii) their contractual cash flow characteristics (whether the cash flows represent \u2018solely payments of principal and
interest\u2019 (SPPI)).
The Barclays Bank Group assesses the business model criteria at a portfolio level. Information that is considered in
determining the applicable business model includes (i) policies and objectives for the relevant portfolio, (ii) how the
performance and risks of the portfolio are managed, evaluated and reported to management, and (iii) the frequency, volume
and timing of sales in prior periods, sales expectation for future periods, and the reasons for such sales.
The contractual cash flow characteristics of financial assets are assessed with reference to whether the cash flows represent
SPPI. Terms that could change the contractual cash flows so that it would not meet the condition for SPPI are considered,
including: (i) contingent and leverage features, (ii) non-recourse arrangements, (iii) features that could modify the time
value of money, and (iv) Social, Environmental and Sustainability-linked features. Terms with de-minimis impact do not
preclude cash flows from representing SPPI.
The accounting policy for each type of financial asset or liability is included within the relevant note for the item. The
Barclays Bank Group\u2019s policies for determining the fair values of the assets and liabilities are set out in Note 16.
Derecognition
The Barclays Bank Group derecognises a financial asset, or a portion of a financial asset, from its balance sheet where (i) the
contractual rights to cash flows from the asset have expired, or (ii) the contractual rights to the cash flows from the asset
have been transferred (usually by sale) and with them either (a) substantially all the risks and rewards of the asset have been
transferred, or (b) where neither substantially all the risks and rewards have been transferred or retained, where control over
the asset has been lost.
It may not be obvious whether substantially all of the risks and rewards of a transferred asset, or portion of an asset, have
been transferred. It is often necessary to perform a quantitative analysis that compares the Barclays Bank Group's exposure
to variability in asset cash flows before the transfer with its retained exposure after the transfer. A cash flow analysis of this
nature may require judgement. In particular, it is necessary to estimate the asset\u2019s expected future cash flows as well as
potential variability around this expectation. The method of estimating expected future cash flows depends on the nature of
the asset, with market and market-implied data used to the greatest extent possible. The potential variability around this
expectation is typically determined by stressing underlying parameters to create reasonable alternative upside and downside
scenarios. Probabilities are then assigned to each scenario. Stressed parameters may include default rates, loss severity, or
prepayment rates.
Financial liabilities are de-recognised when the liability has been settled, has expired or has been extinguished. An exchange
of an existing financial liability for a new liability with the same lender on substantially different terms \u2013 generally a difference
of 10% or more in the present value of the cash flows or a substantive qualitative amendment \u2013 is accounted for as an
extinguishment of the original financial liability and the recognition of a new financial liability.
Accounting for reverse repurchase and repurchase agreements including other similar lending and borrowing
Reverse repurchase agreements (and stock borrowing or similar transactions) are a form of secured lending whereby the
Barclays Bank Group provides a loan or cash collateral in exchange for the transfer of collateral, generally in the form of
marketable securities subject to an agreement to transfer the securities back at a fixed price in the future. Repurchase
agreements are where the Barclays Bank Group obtains such loans or cash collateral, in exchange for the transfer of
collateral.
The Barclays Bank Group purchases (a reverse repurchase agreement) or borrows securities subject to a commitment to
resell or return them. The securities are not included in the balance sheet as the Barclays Bank Group does not acquire the
risks and rewards of ownership. Consideration paid (or cash collateral provided) is accounted for as a loan asset at
amortised cost, unless it is designated or mandatorily at fair value through profit and loss.
The Barclays Bank Group may also sell (a repurchase agreement) or lend securities subject to a commitment to repurchase
or redeem them. The securities are retained on the balance sheet as the Barclays Bank Group retains substantially all the
risks and rewards of ownership. Consideration received (or cash collateral provided) is accounted for as a financial liability at
amortised cost, unless it is designated at fair value through profit and loss.
Accounting for trading portfolio assets and liabilities
All assets and liabilities held for trading purposes are held at fair value with gains and losses in the changes in fair value
taken to the income statement in net trading income (Note 5).
Accounting for financial assets at fair value through other comprehensive income (FVOCI)
Financial assets that are debt instruments held in a business model that is achieved by both collecting contractual cash
flows and selling and that contain contractual terms that give rise on specified dates to cash flows that are SPPI are
measured at FVOCI. They are subsequently re-measured at fair value and changes therein (except for those relating to
impairment, interest income and foreign currency exchange gains and losses) are recognised in other comprehensive
income until the assets are sold. Interest (calculated using the effective interest method) is recognised in the income
statement in net interest income (Note 3). Upon disposal, the cumulative gain or loss in other comprehensive income is
included in net investment income (Note 6).
In determining whether the business model is achieved by both collecting contractual cash flows and selling financial
assets, it is determined that both collecting contractual cash flows and selling financial assets are integral to achieving the
objective of the business model. The Barclays Bank Group will consider past sales and expectations about future sales to
establish if the business model is achieved.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-529": { "value": "
Derecognition
The Barclays Bank Group derecognises a financial asset, or a portion of a financial asset, from its balance sheet where (i) the
contractual rights to cash flows from the asset have expired, or (ii) the contractual rights to the cash flows from the asset
have been transferred (usually by sale) and with them either (a) substantially all the risks and rewards of the asset have been
transferred, or (b) where neither substantially all the risks and rewards have been transferred or retained, where control over
the asset has been lost.
It may not be obvious whether substantially all of the risks and rewards of a transferred asset, or portion of an asset, have
been transferred. It is often necessary to perform a quantitative analysis that compares the Barclays Bank Group's exposure
to variability in asset cash flows before the transfer with its retained exposure after the transfer. A cash flow analysis of this
nature may require judgement. In particular, it is necessary to estimate the asset\u2019s expected future cash flows as well as
potential variability around this expectation. The method of estimating expected future cash flows depends on the nature of
the asset, with market and market-implied data used to the greatest extent possible. The potential variability around this
expectation is typically determined by stressing underlying parameters to create reasonable alternative upside and downside
scenarios. Probabilities are then assigned to each scenario. Stressed parameters may include default rates, loss severity, or
prepayment rates.
Financial liabilities are de-recognised when the liability has been settled, has expired or has been extinguished. An exchange
of an existing financial liability for a new liability with the same lender on substantially different terms \u2013 generally a difference
of 10% or more in the present value of the cash flows or a substantive qualitative amendment \u2013 is accounted for as an
extinguishment of the original financial liability and the recognition of a new financial liability.
Accounting for securitisations
The Barclays Bank Group uses securitisations as a source of finance and a means of risk transfer. Such transactions generally
result in the transfer of contractual cash flows from portfolios of financial assets to holders of issued debt securities.
Securitisations may, depending on the individual arrangement, result in continued recognition of the securitised assets and
the recognition of the debt securities issued in the transaction; lead to partial continued recognition of the assets to the
extent of the Barclays Bank Group\u2019s continuing involvement in those assets or lead to derecognition of the assets and the
separate recognition, as assets or liabilities, of any rights and obligations created or retained in the transfer. Full
derecognition only occurs when the Barclays Bank Group transfers both its contractual right to receive cash flows from the
financial assets, or retains the contractual rights to receive the cash flows, but assumes a contractual obligation to pay the
cash flows to another party without material delay or reinvestment, and also transfers substantially all the risks and rewards
of ownership, including credit risk, prepayment risk and interest rate risk.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-530": { "value": "Issued debt and equity instruments
Issued financial instruments or their components are classified as liabilities if the contractual arrangement results in the
Barclays Bank Group having an obligation to either deliver cash or another financial asset, or a variable number of equity
shares, to the holder of the instrument. If this is not the case, the instrument is generally an equity instrument and the
proceeds included in equity, net of transaction costs. Dividends and other returns to equity holders are recognised when
paid or declared by the members at the Annual General Meeting and treated as a deduction from equity.
Where issued financial instruments contain both liability and equity components, these are accounted for separately. The
fair value of the debt is estimated first and the balance of the proceeds is included within equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-532": { "value": "Cash flow statement
Cash comprises cash on hand and balances at central banks. Cash equivalents comprise loans and advances to banks, cash collateral
balances with central banks related to payment schemes and treasury and other eligible bills, all with original maturities of three months or
less.
Investments in debt securities at amortised cost are deemed to be investing activities for the purposes of the cash flow
statement, except those instruments considered to be cash equivalents.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-531": { "value": "Cash flow statement
Cash comprises cash on hand and balances at central banks. Cash equivalents comprise loans and advances to banks, cash collateral
balances with central banks related to payment schemes and treasury and other eligible bills, all with original maturities of three months or
less.
Investments in debt securities at amortised cost are deemed to be investing activities for the purposes of the cash flow
statement, except those instruments considered to be cash equivalents.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-534": { "value": "Critical accounting estimates and judgements
The preparation of financial statements in accordance with IFRS requires the use of estimates. It also requires management
to exercise judgement in applying the accounting policies. The key areas involving a higher degree of judgement or
complexity or areas where assumptions are significant to the consolidated and individual financial statements are
highlighted under the relevant note. Information about estimates, and other sources of estimation uncertainty at the end of
the reporting period, that are considered to have a significant risk of resulting in material adjustment to the carrying
amounts of assets and liabilities within the next financial year are disclosed within the relevant note.
\u25aa Credit impairment charges on page 308
\u25aa Tax on page 311
\u25aa Fair value of financial instruments on page 334
\u25aa Pensions and post-retirement benefit obligations on page 385
\u25aa Provisions including conduct and legal, competition, and regulatory matters on page 362
7.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Identification and application of management adjustments in
response to circumstances outside the scope of the model.
Estimates include modelling assumptions such as estimating
forward-looking modelled parameters (PD, EAD\u00a0 & LGD), and a range
of unbiased future economic scenarios and scenario weightings.
These estimates are considered to have a significant risk of resulting in material adjustment to the carrying amounts of
financial instruments in scope of IFRS 9 impairment within the next financial year.
IFRS 9 impairment involves several important areas of judgement, including estimating forward looking modelled
parameters (PD, LGD and EAD), developing a range of unbiased future economic scenarios, estimating expected lives and
assessing significant increases in credit risk, based on the Barclays Bank Group\u2019s experience of managing credit risk. The
determination of expected life is most material for Barclays Bank Group's credit card portfolios which is obtained via
behavioural life analysis to materially capture the risk of these facilities.
Within the retail and small businesses portfolios, which comprise large numbers of small homogenous assets with similar
risk characteristics where credit scoring techniques are generally used, the impairment allowance is calculated using forward
looking modelled parameters which are typically run at account level. There are many models in use, each tailored to a
product, line of business or customer category. Judgement and knowledge is needed in selecting the statistical methods to
use when the models are developed or revised. Management adjustments to impairment models, which contain an element
of subjectivity, are applied in order to factor in certain conditions or changes in policy that are not fully incorporated into the
impairment models, or to reflect additional facts and circumstances at the period end. Management adjustments are
reviewed and incorporated into future model development where appropriate.
For individually significant assets in Stage 3, impairment allowances are calculated on an individual basis and all relevant
considerations that have a bearing on the expected future cash flows across a range of economic scenarios are taken into
account. These considerations can be particularly subjective and can include the business prospects for the customer, the
realisable value of collateral, the Barclays Bank Group\u2019s position relative to other claimants, the reliability of customer
information and the likely cost and duration of the work-out process. The level of the impairment allowance is the difference
between the value of the discounted expected future cash flows (discounted at the loan\u2019s original effective interest rate),
and its carrying amount. Furthermore, judgements change with time as new information becomes available or as work-out
strategies evolve, resulting in frequent revisions to the impairment allowance as individual decisions are taken. Changes in
these estimates would result in a change in the allowances and have a direct impact on the impairment charge.
Temporary adjustments to calculated IFRS 9 impairment allowances may be applied in limited circumstances to account for
situations where known or expected risk factors or information have not been considered in the ECL assessment or
modelling process. For further information please see pages 183 to 184 in credit risk performance.
Information about the potential impact of the physical and transition risks of climate change on borrowers is considered,
taking into account reasonable and supportable information to make accounting judgements and estimates. Climate change
is inherently of a long-term nature, with significant levels of uncertainty, and consequently requires judgement in
determining the possible impact in the next financial year, if any.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Recognition of deferred tax assets and determination of provisions
for uncertain tax positions.
Measurement of deferred tax balances and the level of provisioning
for uncertain tax positions.
The Barclays Bank Group does not consider there to be a significant risk of a material adjustment to the carrying amount of
current and deferred tax balances, including provisions for uncertain tax positions in the next financial year. The provisions
for uncertain tax positions cover a diverse range of issues and reflect advice from external counsel where relevant.\u00a0It should
be noted that only a proportion of the total uncertain tax positions will be under audit at any point in time, and could
therefore be subject to challenge by a tax authority over the next year.
Deferred tax assets have been recognised based on business profit forecasts which included consideration for the current
view of climate impacts. Details on the recognition of deferred tax assets are provided in this note.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Classification of financial instruments with significant unobservable
inputs as Level 3.
Valuation of Level 3 assets and liabilities are typically determined by
referencing observable inputs, historical data, or employing other
analytical techniques.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
financial assets and financial liabilities measured at fair value within the next financial year.
The valuation of financial instruments often involves a significant degree of judgement and complexity, in particular where
valuation models make use of unobservable inputs (\u2018Level 3\u2019 assets and liabilities). This note provides information on these
instruments, including the related unrealised gains and losses recognised in the period, a description of significant valuation
techniques and unobservable inputs, and a sensitivity analysis.
For assets and liabilities traded in active markets, it is determined that the market valuation includes a representation of the
prevailing view of climate-related risks. Within less active markets, for counterparties and instruments identified as being
more susceptible to climate change risk, an impact assessment was performed through increasing their probability of
default. The change in valuation of the assets and liabilities from this assessment was sufficiently immaterial to necessitate
any amendment to the reported 2025 year-end valuations.
2025 impairment review
The 2025 impairment review was performed during Q4\u00a02025, with the approach and results of this analysis set out below.
Determining the carrying value of CGUs
The carrying value for each CGU is the sum of the tangible equity, goodwill and intangible asset balances associated with that
CGU.
The Barclays Bank Group manages the assets and liabilities of its CGUs with reference to the tangible equity of the respective
businesses. That tangible equity is derived from the level of risk weighted assets (RWAs) and capital required to be deployed in
the CGU and therefore reflects its relative risk, as well as the level of capital that management considers a market participant
would be required to hold and retain to support business growth.
Goodwill is initially allocated to CGUs or groups of CGUs that are expected to benefit from the synergies of the acquisition that
generated it. Goodwill is only reallocated if there is a change in its use or when reporting structures are altered in a way that
changes the composition of one or more cash-generating units to which goodwill has been allocated.
Cash flows
The five-year cash flows used in the calculation of value in use are based on the formally agreed medium-term plans approved
by the Board. These are prepared using macroeconomic assumptions which management considers reasonable and
supportable, and reflect business agreed initiatives for the forecast period.
Discount rates
IAS 36 requires that the discount rate used in a value in use calculation reflects the pre-tax rate an investor would require if they
were to choose an investment that would generate similar cash flows to those that the entity expects to generate from the
asset. In determining the discount rate, management identified the cost of equity associated with market participants that
closely resemble the Barclays Bank Group's CGUs. The cost of equity has been used as the discount rate in the impairment
assessment and applied to the post tax cash flows of the CGU. This post-tax method incorporates the impact of changing tax
rates on the cash flows and is expected to produce the same VIU result as a pre-tax method adjusted for varying tax rates.
Using the resultant VIU the equivalent pre-tax discount rates have been calculated. The cost of equity rate used for all CGUs in
this year\u2019s calculation has been increased to reflect volatility in markets, an increase in risk free rate and a higher market risk
premium rate. The range of equivalent pre-tax discount rates applicable across the CGUs range from 15.2% to 19.2% (2024:
14.5% to 18.5%).
Terminal growth rate
The terminal growth rate is used to estimate the effect of projecting cash flows to the end of an asset\u2019s useful economic life. It
is management\u2019s judgement that the cash flows associated with the CGUs will grow in line with the major economies in which
the Barclays Bank Group operates. The UK inflation rate is used as an approximation for the future growth rates. The terminal
growth rate used is 2.0% (2024: 2.0%).
Outcome of goodwill and intangibles review
Based on management\u2019s plans and assumptions the value in use exceeds the carrying value of the CGUs and no goodwill
impairment has been indicated by the 2025 impairment review.\u00a0
Cash generating unit
Tangible
equity
Goodwill
Intangibles
Carrying
value
Value in use
Value in use
exceeding
carrying value
2025
Value in use
exceeding
carrying value
2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Private Bank and Wealth Management
945
95
\u2014
1,040
4,943
3,903
2,704
Barclays US Consumer Bank
3,055
414
734
4,203
6,879
2,676
353
Total
4,000
509
734
5,243
11,822
6,579
3,057
Sensitivity of key judgements
The headroom is sensitive to possible adverse changes in the key assumptions that support the recoverable amount:
Cash flows: The medium-term plans used to determine the cash flows used in the VIU calculation rely on macroeconomic
forecasts, including interest rates, GDP and unemployment, and forecast levels of customers activity. Interest rate assumptions
impact planned cash flows from both customer income and structural hedge contributions and therefore cash flow
expectations are highly sensitive to movements in the yield curve. The cash flows also contain assumptions with regard to the
prudential and financial conduct regulatory environment which may be subject to change. A sensitivity analysis has been
provided to illustrate the impact of a 10% reduction in cash flows.
Discount rate: The discount rate should reflect the market risk-free rate adjusted for the inherent risks of the business it is
applied to. Management has identified discount rates for comparable businesses and consider these to be a reasonable
estimate of a suitable market rate for the profile of the business unit being tested. The risk that these discount rates may not be
appropriate is quantified below by showing the impact of a 100bps increase in the discount rate.
Terminal growth rate: The terminal growth rate is used to estimate the cash flows into perpetuity based on the expected
longevity of the CGU\u2019s businesses. The terminal growth rate is sensitive to uncertainties in the macroeconomic environment.
The risk that using inflation data may not be appropriate for its determination is quantified below and shows the impact of a
100bps decrease in the terminal growth rate is shown.
Allocated capital rate: Tangible equity is allocated based on the level of risk weighted assets (RWAs) and capital required to be
deployed in the CGU which is dependent on the relative risk of businesses. The capital rate used in determining the level of
tangible equity allocated to the CGU and its capital cash flows could move over time as a result of a change to the prudential
regulatory environment or the risk profile of the business. The impact of a 50bps increase in capital rate is quantified below.
The sensitivity of the value in use to key judgements in the calculations for certain CGUs holding goodwill balances is set out
below:
Reduction in headroom
Change required to reduce headroom
to zero
Cash generating unit
Carrying
value
Value
in
use
Value in
use
exceeding
carrying
value
Discount
rate
100bps
increase
in the
discount
rate
100bps
decrease
in
terminal
growth
rate
50bps
increase
to
allocated
capital
rate
10%
reduction
in
forecasted
cash flows
Discount
rate
Terminal
growth
rate
Allocated
capital
rate
Cash
flows
\u00a3m
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
%
%
%
Barclays US
Consumer Bank
4,203
6,879
2,676
16.8
(561)
(361)
(229)
(881)
6.6
(13.1)
5.8
(30.4)
Other intangible assets
Determining the estimated useful lives of intangible assets (such as those arising from contractual relationships) requires an
analysis of circumstances. The assessment of whether an asset is exhibiting indicators of impairment as well as the calculation
of impairment, which requires the estimate of future cash flows and fair values less costs to sell, also requires the preparation of
cash flow f orecasts and fair values for assets that may not be regularly bought and sold.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Determination as to whether a present obligation exists.
Estimation uncertainty in the probability, timing, nature and quantum
of outflows.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
provisions within the next financial year.
The financial reporting of provisions involves a significant degree of judgement and is complex. Identifying whether a
present obligation exists and estimating the probability, timing, nature and quantum of the outflows that may arise from
past events requires judgements to be made based on the specific facts and circumstances relating to individual events and
often requires specialist professional advice. When matters are at an early stage, accounting judgements and estimates can
be difficult because of the high degree of uncertainty involved. Management continues to monitor matters as they develop
to re-evaluate on an ongoing basis whether provisions should be recognised, however there can remain a wide range of
possible outcomes and uncertainties, particularly in relation to legal, competition and regulatory matters, and as a result it is
often not practicable to make meaningful estimates even when matters are at a more advanced stage.
The amount that is recognised as a provision can also be very sensitive to the assumptions made in calculating it. This gives
rise to a large range of potential outcomes which require judgement in determining an appropriate provision level. See Note
24 for more detail of legal, competition and regulatory matters.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Estimates
Valuation of defined benefit scheme obligations are dependent on a number of assumptions, the most critical being discount rates, price
inflation, and life expectancy.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amount of
defined benefit obligations within the next financial year.
Below is a summary of the main financial and demographic assumptions adopted for the Barclays Bank Section of the UKRF.
Key financial assumptions
2025
2024
Barclays Bank
Section
Total UKRF
% p.a.
% p.a.
Discount rate
5.46
5.44
Inflation rate (RPI)
2.92
3.32
The Barclays Bank Section of the UKRF discount rate assumption for 2025 was based on a standard WTW RATE Link model.
The RPI inflation assumption for 2025 was set by reference to the Bank of England\u2019s implied inflation curve. The inflation
assumption incorporates a deduction of 20 basis points as an allowance for an inflation risk premium. The methodology
used to derive the discount rate and inflation assumptions is consistent with that used at the prior year end.
The Barclays Bank Section of the UKRF post-retirement mortality assumptions are based on best estimates derived from an
analysis in 2022 of the UKRF\u2019s own post-retirement mortality experience and taking account of recent evidence from
published mortality surveys. An allowance has been made for future mortality improvements based on the 2024 core
projection model published by the Continuous Mortality Investigation Bureau subject to a long-term trend of 1.10% per
annum in future improvements (2024 : 1.25% per annum). The table below shows how the assumed life expectancy, for
members of the Barclays Bank Section of the UKRF (2024: whole UKRF), has changed since last year:
Assumed life expectancy1
2025
2024
Life expectancy at 60 for current pensioners (years)
\u2013 Males
26.6
26.5
\u2013 Females
29.3
29.4
Life expectancy at 60 for future pensioners currently aged 40 (years)
\u2013 Males
28.0
28.0
\u2013 Females
30.6
30.8
Note:
1\u00a0 The life expectancies disclosed are in respect of a population of the membership that represents c60% of the Defined Benefit Obligation of the
Barclays Bank Section of the UKRF (excluding the Afterwork section which has no post-retirement mortality risk) with the remaining members
having life expectancy at age 60 of between 26.4 years and 29.3 years.
Approximately, 70% of the longevity risk for current pensioners has been reinsured and the transactions will provide income
to the Barclays Bank Section of the UKRF if pensions are paid out for longer than expected. The contracts form part of the
investment portfolio.
Sensitivity analysis on actuarial assumptions
The sensitivity analysis has been calculated by valuing the Barclays Bank Section of the UKRF liabilities using the amended
assumptions shown in the table below and keeping the remaining assumptions the same as disclosed in the table above,
except in the case of the inflation sensitivity where other assumptions that depend on assumed inflation have also been
amended correspondingly. The difference between the recalculated liability figure and that stated in the balance sheet
reconciliation table above is the figure shown. The selection of these movements to illustrate the sensitivity of the defined
benefit obligation to key assumptions should not be interpreted as the Barclays Bank Group expressing any specific view of
the probability of such movements happening.
Change in key assumptions for the Barclays Bank Section of the UKRF (2024: whole UKRF)
2025
2024
(Decrease)/Increase in
defined benefit
obligation
(Decrease)/Increase in
defined benefit
obligation
\u00a3bn
\u00a3bn
Discount rate
0.5% p.a. increase
(0.9)
(1.0)
0.25% p.a. increase
(0.4)
(0.5)
0.25% p.a. decrease
0.5
0.5
0.5% p.a. decrease
1.0
1.1
Assumed RPI
0.5% p.a. increase
0.7
0.7
0.25% p.a. increase
0.3
0.3
0.25% p.a. decrease
(0.3)
(0.4)
0.5% p.a. decrease
(0.6)
(0.7)
Life expectancy at 60
One year increase
0.5
0.5
1 Year decrease
(0.5)
(0.5)
", "dimensions": { "concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-533": { "value": "Critical accounting estimates and judgements
The preparation of financial statements in accordance with IFRS requires the use of estimates. It also requires management
to exercise judgement in applying the accounting policies. The key areas involving a higher degree of judgement or
complexity or areas where assumptions are significant to the consolidated and individual financial statements are
highlighted under the relevant note. Information about estimates, and other sources of estimation uncertainty at the end of
the reporting period, that are considered to have a significant risk of resulting in material adjustment to the carrying
amounts of assets and liabilities within the next financial year are disclosed within the relevant note.
\u25aa Credit impairment charges on page 308
\u25aa Tax on page 311
\u25aa Fair value of financial instruments on page 334
\u25aa Pensions and post-retirement benefit obligations on page 385
\u25aa Provisions including conduct and legal, competition, and regulatory matters on page 362
7.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Recognition of deferred tax assets and determination of provisions
for uncertain tax positions.
Measurement of deferred tax balances and the level of provisioning
for uncertain tax positions.
The Barclays Bank Group does not consider there to be a significant risk of a material adjustment to the carrying amount of
current and deferred tax balances, including provisions for uncertain tax positions in the next financial year. The provisions
for uncertain tax positions cover a diverse range of issues and reflect advice from external counsel where relevant.\u00a0It should
be noted that only a proportion of the total uncertain tax positions will be under audit at any point in time, and could
therefore be subject to challenge by a tax authority over the next year.
Deferred tax assets have been recognised based on business profit forecasts which included consideration for the current
view of climate impacts. Details on the recognition of deferred tax assets are provided in this note.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Classification of financial instruments with significant unobservable
inputs as Level 3.
Valuation of Level 3 assets and liabilities are typically determined by
referencing observable inputs, historical data, or employing other
analytical techniques.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
financial assets and financial liabilities measured at fair value within the next financial year.
The valuation of financial instruments often involves a significant degree of judgement and complexity, in particular where
valuation models make use of unobservable inputs (\u2018Level 3\u2019 assets and liabilities). This note provides information on these
instruments, including the related unrealised gains and losses recognised in the period, a description of significant valuation
techniques and unobservable inputs, and a sensitivity analysis.
For assets and liabilities traded in active markets, it is determined that the market valuation includes a representation of the
prevailing view of climate-related risks. Within less active markets, for counterparties and instruments identified as being
more susceptible to climate change risk, an impact assessment was performed through increasing their probability of
default. The change in valuation of the assets and liabilities from this assessment was sufficiently immaterial to necessitate
any amendment to the reported 2025 year-end valuations.
2025 impairment review
The 2025 impairment review was performed during Q4\u00a02025, with the approach and results of this analysis set out below.
Determining the carrying value of CGUs
The carrying value for each CGU is the sum of the tangible equity, goodwill and intangible asset balances associated with that
CGU.
The Barclays Bank Group manages the assets and liabilities of its CGUs with reference to the tangible equity of the respective
businesses. That tangible equity is derived from the level of risk weighted assets (RWAs) and capital required to be deployed in
the CGU and therefore reflects its relative risk, as well as the level of capital that management considers a market participant
would be required to hold and retain to support business growth.
Goodwill is initially allocated to CGUs or groups of CGUs that are expected to benefit from the synergies of the acquisition that
generated it. Goodwill is only reallocated if there is a change in its use or when reporting structures are altered in a way that
changes the composition of one or more cash-generating units to which goodwill has been allocated.
Cash flows
The five-year cash flows used in the calculation of value in use are based on the formally agreed medium-term plans approved
by the Board. These are prepared using macroeconomic assumptions which management considers reasonable and
supportable, and reflect business agreed initiatives for the forecast period.
Discount rates
IAS 36 requires that the discount rate used in a value in use calculation reflects the pre-tax rate an investor would require if they
were to choose an investment that would generate similar cash flows to those that the entity expects to generate from the
asset. In determining the discount rate, management identified the cost of equity associated with market participants that
closely resemble the Barclays Bank Group's CGUs. The cost of equity has been used as the discount rate in the impairment
assessment and applied to the post tax cash flows of the CGU. This post-tax method incorporates the impact of changing tax
rates on the cash flows and is expected to produce the same VIU result as a pre-tax method adjusted for varying tax rates.
Using the resultant VIU the equivalent pre-tax discount rates have been calculated. The cost of equity rate used for all CGUs in
this year\u2019s calculation has been increased to reflect volatility in markets, an increase in risk free rate and a higher market risk
premium rate. The range of equivalent pre-tax discount rates applicable across the CGUs range from 15.2% to 19.2% (2024:
14.5% to 18.5%).
Terminal growth rate
The terminal growth rate is used to estimate the effect of projecting cash flows to the end of an asset\u2019s useful economic life. It
is management\u2019s judgement that the cash flows associated with the CGUs will grow in line with the major economies in which
the Barclays Bank Group operates. The UK inflation rate is used as an approximation for the future growth rates. The terminal
growth rate used is 2.0% (2024: 2.0%).
Outcome of goodwill and intangibles review
Based on management\u2019s plans and assumptions the value in use exceeds the carrying value of the CGUs and no goodwill
impairment has been indicated by the 2025 impairment review.\u00a0
Cash generating unit
Tangible
equity
Goodwill
Intangibles
Carrying
value
Value in use
Value in use
exceeding
carrying value
2025
Value in use
exceeding
carrying value
2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Private Bank and Wealth Management
945
95
\u2014
1,040
4,943
3,903
2,704
Barclays US Consumer Bank
3,055
414
734
4,203
6,879
2,676
353
Total
4,000
509
734
5,243
11,822
6,579
3,057
Sensitivity of key judgements
The headroom is sensitive to possible adverse changes in the key assumptions that support the recoverable amount:
Cash flows: The medium-term plans used to determine the cash flows used in the VIU calculation rely on macroeconomic
forecasts, including interest rates, GDP and unemployment, and forecast levels of customers activity. Interest rate assumptions
impact planned cash flows from both customer income and structural hedge contributions and therefore cash flow
expectations are highly sensitive to movements in the yield curve. The cash flows also contain assumptions with regard to the
prudential and financial conduct regulatory environment which may be subject to change. A sensitivity analysis has been
provided to illustrate the impact of a 10% reduction in cash flows.
Discount rate: The discount rate should reflect the market risk-free rate adjusted for the inherent risks of the business it is
applied to. Management has identified discount rates for comparable businesses and consider these to be a reasonable
estimate of a suitable market rate for the profile of the business unit being tested. The risk that these discount rates may not be
appropriate is quantified below by showing the impact of a 100bps increase in the discount rate.
Terminal growth rate: The terminal growth rate is used to estimate the cash flows into perpetuity based on the expected
longevity of the CGU\u2019s businesses. The terminal growth rate is sensitive to uncertainties in the macroeconomic environment.
The risk that using inflation data may not be appropriate for its determination is quantified below and shows the impact of a
100bps decrease in the terminal growth rate is shown.
Allocated capital rate: Tangible equity is allocated based on the level of risk weighted assets (RWAs) and capital required to be
deployed in the CGU which is dependent on the relative risk of businesses. The capital rate used in determining the level of
tangible equity allocated to the CGU and its capital cash flows could move over time as a result of a change to the prudential
regulatory environment or the risk profile of the business. The impact of a 50bps increase in capital rate is quantified below.
The sensitivity of the value in use to key judgements in the calculations for certain CGUs holding goodwill balances is set out
below:
Reduction in headroom
Change required to reduce headroom
to zero
Cash generating unit
Carrying
value
Value
in
use
Value in
use
exceeding
carrying
value
Discount
rate
100bps
increase
in the
discount
rate
100bps
decrease
in
terminal
growth
rate
50bps
increase
to
allocated
capital
rate
10%
reduction
in
forecasted
cash flows
Discount
rate
Terminal
growth
rate
Allocated
capital
rate
Cash
flows
\u00a3m
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
%
%
%
Barclays US
Consumer Bank
4,203
6,879
2,676
16.8
(561)
(361)
(229)
(881)
6.6
(13.1)
5.8
(30.4)
Other intangible assets
Determining the estimated useful lives of intangible assets (such as those arising from contractual relationships) requires an
analysis of circumstances. The assessment of whether an asset is exhibiting indicators of impairment as well as the calculation
of impairment, which requires the estimate of future cash flows and fair values less costs to sell, also requires the preparation of
cash flow f orecasts and fair values for assets that may not be regularly bought and sold.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Determination as to whether a present obligation exists.
Estimation uncertainty in the probability, timing, nature and quantum
of outflows.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
provisions within the next financial year.
The financial reporting of provisions involves a significant degree of judgement and is complex. Identifying whether a
present obligation exists and estimating the probability, timing, nature and quantum of the outflows that may arise from
past events requires judgements to be made based on the specific facts and circumstances relating to individual events and
often requires specialist professional advice. When matters are at an early stage, accounting judgements and estimates can
be difficult because of the high degree of uncertainty involved. Management continues to monitor matters as they develop
to re-evaluate on an ongoing basis whether provisions should be recognised, however there can remain a wide range of
possible outcomes and uncertainties, particularly in relation to legal, competition and regulatory matters, and as a result it is
often not practicable to make meaningful estimates even when matters are at a more advanced stage.
The amount that is recognised as a provision can also be very sensitive to the assumptions made in calculating it. This gives
rise to a large range of potential outcomes which require judgement in determining an appropriate provision level. See Note
24 for more detail of legal, competition and regulatory matters.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Estimates
Valuation of defined benefit scheme obligations are dependent on a number of assumptions, the most critical being discount rates, price
inflation, and life expectancy.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amount of
defined benefit obligations within the next financial year.
Below is a summary of the main financial and demographic assumptions adopted for the Barclays Bank Section of the UKRF.
Key financial assumptions
2025
2024
Barclays Bank
Section
Total UKRF
% p.a.
% p.a.
Discount rate
5.46
5.44
Inflation rate (RPI)
2.92
3.32
The Barclays Bank Section of the UKRF discount rate assumption for 2025 was based on a standard WTW RATE Link model.
The RPI inflation assumption for 2025 was set by reference to the Bank of England\u2019s implied inflation curve. The inflation
assumption incorporates a deduction of 20 basis points as an allowance for an inflation risk premium. The methodology
used to derive the discount rate and inflation assumptions is consistent with that used at the prior year end.
The Barclays Bank Section of the UKRF post-retirement mortality assumptions are based on best estimates derived from an
analysis in 2022 of the UKRF\u2019s own post-retirement mortality experience and taking account of recent evidence from
published mortality surveys. An allowance has been made for future mortality improvements based on the 2024 core
projection model published by the Continuous Mortality Investigation Bureau subject to a long-term trend of 1.10% per
annum in future improvements (2024 : 1.25% per annum). The table below shows how the assumed life expectancy, for
members of the Barclays Bank Section of the UKRF (2024: whole UKRF), has changed since last year:
Assumed life expectancy1
2025
2024
Life expectancy at 60 for current pensioners (years)
\u2013 Males
26.6
26.5
\u2013 Females
29.3
29.4
Life expectancy at 60 for future pensioners currently aged 40 (years)
\u2013 Males
28.0
28.0
\u2013 Females
30.6
30.8
Note:
1\u00a0 The life expectancies disclosed are in respect of a population of the membership that represents c60% of the Defined Benefit Obligation of the
Barclays Bank Section of the UKRF (excluding the Afterwork section which has no post-retirement mortality risk) with the remaining members
having life expectancy at age 60 of between 26.4 years and 29.3 years.
Approximately, 70% of the longevity risk for current pensioners has been reinsured and the transactions will provide income
to the Barclays Bank Section of the UKRF if pensions are paid out for longer than expected. The contracts form part of the
investment portfolio.
Sensitivity analysis on actuarial assumptions
The sensitivity analysis has been calculated by valuing the Barclays Bank Section of the UKRF liabilities using the amended
assumptions shown in the table below and keeping the remaining assumptions the same as disclosed in the table above,
except in the case of the inflation sensitivity where other assumptions that depend on assumed inflation have also been
amended correspondingly. The difference between the recalculated liability figure and that stated in the balance sheet
reconciliation table above is the figure shown. The selection of these movements to illustrate the sensitivity of the defined
benefit obligation to key assumptions should not be interpreted as the Barclays Bank Group expressing any specific view of
the probability of such movements happening.
Change in key assumptions for the Barclays Bank Section of the UKRF (2024: whole UKRF)
2025
2024
(Decrease)/Increase in
defined benefit
obligation
(Decrease)/Increase in
defined benefit
obligation
\u00a3bn
\u00a3bn
Discount rate
0.5% p.a. increase
(0.9)
(1.0)
0.25% p.a. increase
(0.4)
(0.5)
0.25% p.a. decrease
0.5
0.5
0.5% p.a. decrease
1.0
1.1
Assumed RPI
0.5% p.a. increase
0.7
0.7
0.25% p.a. increase
0.3
0.3
0.25% p.a. decrease
(0.3)
(0.4)
0.5% p.a. decrease
(0.6)
(0.7)
Life expectancy at 60
One year increase
0.5
0.5
1 Year decrease
(0.5)
(0.5)
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-535": { "value": "Segmental reporting
Operating segments are reported in a manner consistent with the internal reporting provided to the Executive Committee,
which is responsible for allocating resources and assessing performance of the operating segments, and has been identified
as the chief operating decision maker. All transactions between business segments are conducted on an arm\u2019s-length basis.
Income and expenses directly associated with each segment are included in determining business segment performance.
The Group presents its financial disclosures through the following segments:
\u2022 Barclays UK Corporate Bank: this division brings together lending, trade and working capital, liquidity, payments
and FX solutions for UK corporate clients with an annual turnover from \u00a36.5 million and higher, excluding those
clients that form part of the FTSE 350, which are included within the IB.
\u2022 Barclays Private Bank and Wealth Management: this division serves UK and international private banking clients
providing a range of investment, banking and lending products alongside expert advice. It also serves UK wealth
management and UK digital investing clients offering a range of financial services.
\u2022 Barclays Investment Bank: this segment incorporates the Global Markets, Investment Banking and International
Corporate Banking businesses, serving FTSE 350, multinationals and financial institution clients that are regular
users of Investment Bank services.
\u2022 Barclays US Consumer Bank: is a co-branded credit card issuer and financial services partner in the United States
for travel, entertainment, retail and affinity institutions. It offers co-branded, small business and private label credit
cards, instalment loans, online savings accounts and certificates of deposits.
The below tables also includes Head Office, which comprises central support, central treasury operations and legacy
businesses. In addition to these elements, Head Office\u00a0 also includes the Payment Acceptance business.
For more information about each reporting segment, refer to Strategic Report on page 1.
Analysis of results by business
For the year ended 31 December 2025
Barclays UK
Corporate
Bank
Barclays
Private Bank
and\u00a0 Wealth
Management
Barclays
Investment
Bank
Barclays US
Consumer
Bank
Head Office
Barclays
Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Net interest income
1,532
834
1,653
2,849
426
7,294
Non-interest income
593
584
11,677
859
(80)
13,633
Total income
2,125
1,418
13,330
3,708
346
20,927
\u00a0 \u00a0 Of which inter-segmental income/(expense)
1,903
1,864
(3,483)
(6)
(278)
\u2014
Operating costs
(1,071)
(1,040)
(8,187)
(1,666)
(629)
(12,593)
UK regulatory levies
(29)
(10)
(181)
\u2014
(8)
(228)
Litigation and conduct
(39)
(9)
(28)
(8)
(200)
(284)
Total operating expenses
(1,139)
(1,059)
(8,396)
(1,674)
(837)
(13,105)
Other net expenses1
\u2014
\u2014
\u2014
\u2014
(13)
(13)
Profit/(loss) before impairment
986
359
4,934
2,034
(504)
7,809
Credit impairment (charges)/releases
(37)
8
(305)
(1,521)
(11)
(1,866)
Profit/(loss) before tax
949
367
4,629
513
(515)
5,943
Total assets (\u00a3bn)
71.4
41.9
1,082.0
34.3
15.9
1,245.5
Total liabilities (\u00a3bn)
104.3
80.4
968.1
25.4
5.0
1,183.2
Number of employees (full time equivalent)
22,300
Average number of employees (full time equivalent)
22,300
Average number of employees (headcount)
22,400
Note
1Other net expenses represents the share of post-tax results of associates and joint ventures, and profit (or loss) on disposal of subsidiaries.
For the year ended 31 December 2024
Barclays UK
Corporate
Bank
Barclays
Private Bank
and\u00a0 Wealth
Management
Barclays
Investment
Bank
Barclays US
Consumer
Bank
Head Office
Barclays
Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Net interest income
1,266
796
1,413
2,687
583
6,745
Non-interest income
590
545
10,779
664
(286)
12,292
Total income
1,856
1,341
12,192
3,351
297
19,037
\u00a0 \u00a0 Of which inter-segmental income/(expense)
2,410
2,167
(3,815)
(8)
(754)
\u2014
Operating costs
(1,008)
(953)
(7,889)
(1,637)
(758)
(12,245)
UK regulatory levies
(37)
(9)
(187)
\u2014
(9)
(242)
Litigation and conduct
(1)
\u2014
(55)
(13)
(117)
(186)
Total operating expenses
(1,046)
(962)
(8,131)
(1,650)
(884)
(12,673)
Other net expenses1
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Profit/(loss) before impairment
810
379
4,061
1,701
(587)
6,364
Credit impairment (charges)/releases
(76)
(6)
(123)
(1,293)
(119)
(1,617)
Profit/(loss) before tax
734
373
3,938
408
(706)
4,747
Total assets (\u00a3bn)
61.3
34.1
1,061.8
34.9
26.4
1,218.5
Total liabilities (\u00a3bn)
94.7
75.0
955.6
24.5
9.5
1,159.3
Number of employees (full time equivalent)
23,000
Average number of employees (full time equivalent)
23,400
Average number of employees (headcount)
23,500
For the year ended 31 December 2023
Barclays UK
Corporate
Bank
Barclays
Private Bank
and\u00a0 Wealth
Management
Barclays
Investment
Bank
Barclays US
Consumer
Bank
Head Office
Barclays
Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Net interest income
1,241
792
1,705
2,616
299
6,653
Non-interest income
620
443
9,717
665
170
11,615
Total income
1,861
1,235
11,422
3,281
469
18,268
Of which inter-segmental income/(expense)
1,576
1,726
(2,650)
(6)
(646)
\u2014
Operating costs
(977)
(830)
(7,847)
(1,669)
(947)
(12,270)
UK regulatory levies
(8)
(4)
(123)
\u2014
(14)
(149)
Litigation and conduct
1
2
5
(6)
(46)
(44)
Total operating expenses
(984)
(832)
(7,965)
(1,675)
(1,007)
(12,463)
Other net expenses1
(3)
\u2014
1
(1)
(1)
(4)
Profit/(loss) before impairment
874
403
3,458
1,605
(539)
5,801
Credit impairment (charges)/releases
27
(4)
(102)
(1,438)
(61)
(1,578)
Profit/(loss) before tax
901
399
3,356
167
(600)
4,223
Total assets (\u00a3bn)
61.6
32.1
1,027.6
33.4
30.5
1,185.2
Total liabilities (\u00a3bn)
86.8
61.0
948.9
21.2
6.8
1,124.7
Number of employees (full time equivalent)
23,900
Average number of employees (full time equivalent)
23,800
Average number of employees (headcount)
24,000
Note
1Other net expenses represents the share of post-tax results of associates and joint ventures, and profit (or loss) on disposal of subsidiaries,
associates and joint ventures.
Inter-segmental income/(expense) refers to the internal charging of revenues between different business segments,
reflecting how resources such as funding, capital, or services are utilised across the Barclays Bank Group. Segments which
operate with a net customer deposit position contribute surplus deposits as a funding source for other Barclays Bank Group
segment activities.
Income by geographic region1
2025
2024
2023
For the year ended 31 December
\u00a3m
\u00a3m
\u00a3m
United Kingdom
7,471
6,075
6,095
Americas
9,652
8,864
8,200
Europe
2,265
2,749
2,513
Asia\u00a0
1,453
1,267
1,373
Africa and Middle East
86
82
87
Total
20,927
19,037
18,268
Income from individual countries which represent more than 5% of total income
2025
2024
2023
For the year ended 31 December
\u00a3m
\u00a3m
\u00a3m
United Kingdom
7,471
6,075
6,095
United States
9,498
8,702
8,013
Note
1 The geographical analysis is based on the location of the office where the transactions are recorded.", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-536": { "value": "
Operating segments are reported in a manner consistent with the internal reporting provided to the Executive Committee,
which is responsible for allocating resources and assessing performance of the operating segments, and has been identified
as the chief operating decision maker. All transactions between business segments are conducted on an arm\u2019s-length basis.
Income and expenses directly associated with each segment are included in determining business segment performance.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-537": { "value": "Net interest income
Accounting for interest income and expenses
Interest income on loans and advances at amortised cost, financial assets at fair value through other comprehensive
income and interest expense on financial liabilities held at amortised cost are calculated using the effective interest method
which allocates interest, and direct and incremental fees and costs, over the expected lives of the assets and liabilities.
The effective interest method requires the Barclays Bank Group to estimate future cash flows, in some cases based on its
experience of customers\u2019 behaviour, considering all contractual terms of the financial instrument, as well as the expected
lives of the assets and liabilities.
The Barclays Bank Group incurs certain costs to originate credit card balances with the most significant being co-brand
partner fees. To the extent these costs are attributed to customers that continuously carry an outstanding balance
(revolvers) and incremental to the origination of credit card balances, they are capitalised and subsequently included
within the calculation of the effective interest rate. They are amortised to interest income over the period of expected
repayment of the originated balance. Costs attributed to customers that settle their outstanding balances each period
(transactors) are deferred on the balance sheet as a cost of obtaining a contract and amortised to fee and commission
expense over the life of the customer relationship (refer to Note 4). There are no other individual estimates involved in the
calculation of effective interest rates that are material to the results or financial position.
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Cash and balances at central banks
7,759
9,567
8,384
Debt securities at amortised cost
1,953
1,737
1,819
Loans and advances at amortised cost to banks and customers
9,324
9,508
7,854
Fair value through other comprehensive income
1,844
2,335
3,808
Cash collateral
1,849
2,026
1,987
Other 1
680
607
409
Interest and similar income
23,409
25,780
24,261
Deposits at amortised cost from banks and customers
(8,723)
(10,513)
(8,741)
Debt securities in issue
(2,551)
(2,847)
(3,030)
Subordinated liabilities
(2,973)
(2,990)
(2,697)
Cash collateral
(1,453)
(2,185)
(2,206)
Other 2
(415)
(500)
(934)
Interest and similar expense
(16,115)
(19,035)
(17,608)
Net interest income
7,294
6,745
6,653
Notes
1\u00a0 \u00a0 Includes interest income from reverse repurchase agreements and other similar secured lending at amortised cost.
2\u00a0 \u00a0 Includes interest expense from repurchase agreement and other similar secured borrowing at amortised cost and lease expense.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-538": { "value": "
Accounting for interest income and expenses
Interest income on loans and advances at amortised cost, financial assets at fair value through other comprehensive
income and interest expense on financial liabilities held at amortised cost are calculated using the effective interest method
which allocates interest, and direct and incremental fees and costs, over the expected lives of the assets and liabilities.
The effective interest method requires the Barclays Bank Group to estimate future cash flows, in some cases based on its
experience of customers\u2019 behaviour, considering all contractual terms of the financial instrument, as well as the expected
lives of the assets and liabilities.
The Barclays Bank Group incurs certain costs to originate credit card balances with the most significant being co-brand
partner fees. To the extent these costs are attributed to customers that continuously carry an outstanding balance
(revolvers) and incremental to the origination of credit card balances, they are capitalised and subsequently included
within the calculation of the effective interest rate. They are amortised to interest income over the period of expected
repayment of the originated balance. Costs attributed to customers that settle their outstanding balances each period
(transactors) are deferred on the balance sheet as a cost of obtaining a contract and amortised to fee and commission
expense over the life of the customer relationship (refer to Note 4). There are no other individual estimates involved in the
calculation of effective interest rates that are material to the results or financial position.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-540": { "value": "
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Cash and balances at central banks
7,759
9,567
8,384
Debt securities at amortised cost
1,953
1,737
1,819
Loans and advances at amortised cost to banks and customers
9,324
9,508
7,854
Fair value through other comprehensive income
1,844
2,335
3,808
Cash collateral
1,849
2,026
1,987
Other 1
680
607
409
Interest and similar income
23,409
25,780
24,261
Deposits at amortised cost from banks and customers
(8,723)
(10,513)
(8,741)
Debt securities in issue
(2,551)
(2,847)
(3,030)
Subordinated liabilities
(2,973)
(2,990)
(2,697)
Cash collateral
(1,453)
(2,185)
(2,206)
Other 2
(415)
(500)
(934)
Interest and similar expense
(16,115)
(19,035)
(17,608)
Net interest income
7,294
6,745
6,653
Notes
1\u00a0 \u00a0 Includes interest income from reverse repurchase agreements and other similar secured lending at amortised cost.
2\u00a0 \u00a0 Includes interest expense from repurchase agreement and other similar secured borrowing at amortised cost and lease expense.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-539": { "value": "
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Cash and balances at central banks
7,759
9,567
8,384
Debt securities at amortised cost
1,953
1,737
1,819
Loans and advances at amortised cost to banks and customers
9,324
9,508
7,854
Fair value through other comprehensive income
1,844
2,335
3,808
Cash collateral
1,849
2,026
1,987
Other 1
680
607
409
Interest and similar income
23,409
25,780
24,261
Deposits at amortised cost from banks and customers
(8,723)
(10,513)
(8,741)
Debt securities in issue
(2,551)
(2,847)
(3,030)
Subordinated liabilities
(2,973)
(2,990)
(2,697)
Cash collateral
(1,453)
(2,185)
(2,206)
Other 2
(415)
(500)
(934)
Interest and similar expense
(16,115)
(19,035)
(17,608)
Net interest income
7,294
6,745
6,653
Notes
1\u00a0 \u00a0 Includes interest income from reverse repurchase agreements and other similar secured lending at amortised cost.
2\u00a0 \u00a0 Includes interest expense from repurchase agreement and other similar secured borrowing at amortised cost and lease expense.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-541": { "value": "Net fee and commission income
Accounting for net fee and commission income
The Barclays Bank Group recognises fee and commission income charged for services provided by the Barclays Bank
Group as and when performance obligations are satisfied, for example, on completion of the underlying transaction.
Incremental costs are reported within fee and commission expense if they are directly attributable to generating
identifiable fee and commission income. Where the contractual arrangements also result in the Barclays Bank Group
recognising financial instruments in scope of IFRS 9, such financial instruments are initially recognised at fair value in
accordance with IFRS 9 before applying the provisions of IFRS 15.
Fee and commission income is disaggregated below by fee types that reflect the nature of the services offered across the
Barclays Bank Group and operating segments, in accordance with IFRS 15. The table below includes a total for fees in scope
of IFRS 15. Refer to Note 2 for more detailed information about operating segments.
2025
Barclays UK
Corporate
Bank
Barclays
Private Bank
and Wealth
Management
Barclays
Investment
Bank
Barclays US
Consumer
Bank
Head Office
Barclays Bank
Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Fee type
Transactional
462
30
336
2,727
254
3,809
Advisory
\u2014
344
710
\u2014
\u2014
1,054
Brokerage and execution
\u2014
158
1,820
\u2014
\u2014
1,978
Underwriting and syndication
102
\u2014
2,655
\u2014
\u2014
2,757
Other
11
3
64
\u2014
31
109
Total revenue from contracts with customers
575
535
5,585
2,727
285
9,707
Other non-contract fee income
26
\u2014
146
\u2014
\u2014
172
Fee and commission income
601
535
5,731
2,727
285
9,879
Fee and commission expense
(96)
(40)
(1,258)
(1,858)
(74)
(3,326)
Net fee and commission income
505
495
4,473
869
211
6,553
2024
Barclays UK
Corporate
Bank
Barclays
Private Bank
and Wealth
Management
Barclays
Investment
Bank
Barclays US
Consumer
Bank
Head Office
Barclays Bank
Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Fee type
Transactional
448
33
336
2,661
322
3,800
Advisory
\u2014
319
739
\u2014
\u2014
1,058
Brokerage and execution
\u2014
129
1,580
\u2014
\u2014
1,709
Underwriting and syndication
92
\u2014
2,596
\u2014
\u2014
2,688
Other
11
3
51
\u2014
29
94
Total revenue from contracts with customers
551
484
5,302
2,661
351
9,349
Other non-contract fee income
25
\u2014
112
\u2014
\u2014
137
Fee and commission income
576
484
5,414
2,661
351
9,486
Fee and commission expense
(95)
(38)
(1,127)
(1,855)
(100)
(3,215)
Net fee and commission income
481
446
4,287
806
251
6,271
2023
Barclays UK
Corporate
Bank
Barclays
Private Bank
and Wealth
Management
Barclays
Investment
Bank
Barclays US
Consumer
Bank
Head Office
Barclays Bank
Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Fee type
Transactional
433
32
327
2,603
297
3,692
Advisory
\u2014
251
652
\u2014
\u2014
903
Brokerage and execution
\u2014
89
1,674
\u2014
\u2014
1,763
Underwriting and syndication
82
\u2014
1,997
\u2014
\u2014
2,079
Other
12
3
57
\u2014
60
132
Total revenue from contracts with customers
527
375
4,707
2,603
357
8,569
Other non-contract fee income
28
1
110
\u2014
\u2014
139
Fee and commission income
555
376
4,817
2,603
357
8,708
Fee and commission expense
(102)
(34)
(1,253)
(1,765)
(93)
(3,247)
Net fee and commission income
453
342
3,564
838
264
5,461
Fee types
Transactional
Transactional fees are service charges on deposit accounts, cash management services fees and transactional processing
fees. These include interchange and merchant fee income generated from credit and bank card usage. Transaction and
processing fees are recognised at the point in time the transaction occurs or service is performed. Interchange and merchant
fees are recognised upon settlement of the card transaction payment.
The Barclays Bank Group incurs certain card related costs including those related to cardholder reward programmes and
payments to co-brand partners. Cardholder reward programme costs related to customers that settle their outstanding
balance each period (transactors) are expensed when incurred and presented in fee and commission expense, while costs
related to customers that continuously carry an outstanding balance (revolvers) are included in the effective interest rate of
the receivable (refer to Note 3). Payments to partners for new cardholder account originations related to transactor
accounts are deferred as costs to obtain a contract under IFRS 15, while costs related to revolver accounts are included in
the effective interest rate of the receivable (refer to Note 3). Those costs deferred under IFRS 15 are capitalised and
amortised over the estimated life of the customer relationship. Payments to co-brand partners based on revenue sharing to
the extent the revenue share relates to 'revolvers' are included in the effective interest rate of the receivable and to the extent
revenue share relates to 'transactors' it is presented in fee and commission expense. Payments based on profitability are
presented in fee and commission expense.
Advisory
Advisory fees are generated from wealth management services and investment banking advisory services related to
mergers, acquisitions and financial restructurings. Wealth management advisory fees are earned over the period the services
are provided and are generally recognised quarterly when the market value of client assets is determined. Investment
banking advisory fees are recognised at the point in time when the services related to the transaction have been completed
under the terms of the engagement. Investment banking advisory costs are recognised as incurred in fee and commission
expense if direct and incremental to the advisory services or are otherwise recognised in operating expenses.
Brokerage and execution
Brokerage and execution fees are earned for executing client transactions with various exchanges and over-the-counter
markets and assisting clients in clearing transactions and facilitating foreign exchange transactions for spot/forward
contracts. Brokerage and execution fees are recognised at the point in time the associated service has been completed
which is generally the trade date of the transaction.
Underwriting and syndication
Underwriting and syndication fees are earned for the distribution of client equity or debt securities and the arrangement and
administration of a loan syndication. This includes commitment fees to provide loan financing. Underwriting fees are
generally recognised on trade date if there is no remaining contingency, such as the transaction being conditional on the
closing of an acquisition or another transaction. Underwriting costs are deferred and recognised in fee and commission
expense when the associated underwriting fees are recorded. Syndication fees are earned for arranging and administering a
loan syndication; however, the associated fee may be subject to variability until the loan has been syndicated to other
syndicate members or until other contingencies have been resolved and therefore the fee revenue is deferred until the
uncertainty is resolved.
Included in underwriting and syndication fees are loan commitment fees, when the drawdown is not probable. Such
commitment fees are recognised over time through to the contractual maturity of the commitment.
Contract assets and contract liabilities
The Barclays Bank Group had no material contract assets or contract liabilities as at 31\u00a0December 2025 (2024: \u00a3nil; 2023:
\u00a3nil).
Impairment of fee receivables and contract assets
During 2025, there have been no material impairments recognised in relation to fees receivable and contract assets (2024:
\u00a3nil; 2023: \u00a3nil). Fees in relation to transactional business can be added to outstanding customer balances. These amounts
may be subsequently impaired as part of the overall loans and advances balance.
Remaining performance obligations
The Barclays Bank Group applies the practical expedient of IFRS 15 and does not disclose information about remaining
performance obligations that have original expected durations of one year or less or because the Barclays Bank Group has a
right to consideration that corresponds directly with the value of the service provided to the client or customer.
Costs incurred in obtaining or fulfilling a contract
The Barclays Bank Group expects that incremental costs of obtaining a contract such as success fee and commission fees
paid are recoverable and therefore capitalises such contract costs. Capitalised contract costs net of amortisation as at
31\u00a0December 2025 are \u00a3131m (2024: \u00a3103m; 2023: \u00a3203m).
Capitalised contract costs are amortised over the customer relationship period depending on the transfer of services to
which the asset pertains. In 2025 , the amount of amortisation was \u00a329m (2024: \u00a358m; 2023: \u00a352m) and there was no
impairment loss recognised in connection with the capitalised contract costs (2024: \u00a3nil; 2023: \u00a3nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-542": { "value": "
Accounting for net fee and commission income
The Barclays Bank Group recognises fee and commission income charged for services provided by the Barclays Bank
Group as and when performance obligations are satisfied, for example, on completion of the underlying transaction.
Incremental costs are reported within fee and commission expense if they are directly attributable to generating
identifiable fee and commission income. Where the contractual arrangements also result in the Barclays Bank Group
recognising financial instruments in scope of IFRS 9, such financial instruments are initially recognised at fair value in
accordance with IFRS 9 before applying the provisions of IFRS 15.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-543": { "value": "Net trading income
Accounting for net trading income
Trading positions are held at fair value, and the resulting gains and losses are included in net trading income, together with
interest and dividends arising from long and short positions and funding costs relating to trading activities. Incremental
costs are reported within net trading income if they are directly attributable to generating identifiable trading income.
Income arises from both the sale and purchase of trading positions, margins which are achieved through market making
and customer business and from changes in fair value caused by movements in interest and exchange rates, equity prices
and other market variables.
Gains or losses on non-trading financial instruments designated or mandatorily at fair value, with changes in fair value
recognised in the income statement, are included in net trading income where the business model is to manage assets and
liabilities on a fair value basis, which includes the use of derivatives. Gains and losses are also reported in net trading
income where an instrument is designated at fair value to eliminate an accounting mismatch.
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Net gains on financial instruments held for trading
5,160
4,201
4,310
Net gains on financial instruments mandatorily at fair value
1,325
1,199
1,308
Net gains on financial instruments designated at fair value
619
500
362
Net trading income
7,104
5,900
5,980
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-544": { "value": "
Accounting for net trading income
Trading positions are held at fair value, and the resulting gains and losses are included in net trading income, together with
interest and dividends arising from long and short positions and funding costs relating to trading activities. Incremental
costs are reported within net trading income if they are directly attributable to generating identifiable trading income.
Income arises from both the sale and purchase of trading positions, margins which are achieved through market making
and customer business and from changes in fair value caused by movements in interest and exchange rates, equity prices
and other market variables.
Gains or losses on non-trading financial instruments designated or mandatorily at fair value, with changes in fair value
recognised in the income statement, are included in net trading income where the business model is to manage assets and
liabilities on a fair value basis, which includes the use of derivatives. Gains and losses are also reported in net trading
income where an instrument is designated at fair value to eliminate an accounting mismatch.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradingIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-545": { "value": "Net investment (expense)/income
Accounting for net investment (expense)/income
Dividends are recognised when the right to receive the dividend has been established. Incremental costs are reported
within net investment income if they are directly attributable to generating identifiable investment income. Other
accounting policies relating to net investment income are set out in Note 12 and Note 14.
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Net gains from financial assets mandatorily at fair value
161
219
133
Net (losses)/gains from disposal of financial assets at fair value through other
comprehensive income
(201)
134
102
Net losses from disposal of financial assets and liabilities measured at amortised
cost1
(6)
(225)
(9)
Dividend Income
\u2014
3
\u2014
Net losses on other investments
(26)
(62)
(114)
Net investment (expense)/income
(72)
69
112
1\u00a0 \u00a0 Included within the 2024 balance are losses of \u00a3220m on sale of the performing Italian retail mortgage portfolio.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-546": { "value": "
Accounting for net investment (expense)/income
Dividends are recognised when the right to receive the dividend has been established. Incremental costs are reported
within net investment income if they are directly attributable to generating identifiable investment income. Other
accounting policies relating to net investment income are set out in Note 12 and Note 14.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-547": { "value": "Infrastructure, administration and general expenses
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Infrastructure costs
Property and equipment
454
440
591
Depreciation and amortisation
354
353
438
Impairment of property, equipment and intangible assets
8
2
44
Total infrastructure costs
816
795
1,073
Administration and general expenses
Consultancy, legal and professional fees
419
458
422
Marketing and advertising
355
407
391
Other administration and general expenses
5,418
5,029
4,793
Total administration and general expenses
6,192
5,894
5,606
Total infrastructure, administration and general expenses
7,008
6,689
6,679
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-548": { "value": "Credit impairment charges/(releases)
Accounting for the impairment of financial assets
Impairment
In accordance with IFRS 9, the Barclays Bank Group is required to recognise expected credit losses (ECLs) based on unbiased
forward-looking information for all financial assets at amortised cost, lease receivables, debt financial assets at fair value
through other comprehensive income, loan commitments and financial guarantee contracts. Intercompany exposures in the
individual financial statements, including loan commitments and financial guarantee contracts, are also in scope of IFRS 9
for ECL purposes.
At the reporting date, an allowance (or provision for loan commitments and financial guarantees) is required for the 12
month (Stage 1) ECLs. If the credit risk has significantly increased since initial recognition (Stage 2), or if the financial
instrument is credit impaired (Stage 3), an allowance (or provision) should be recognised for the lifetime ECLs.
The measurement of ECL is calculated using three main components: (i) probability of default (PD) (ii) loss given default
(LGD) and (iii) the exposure at default (EAD).
The 12 month and lifetime ECLs are calculated by multiplying the respective PD, LGD and the EAD. The 12 month and
lifetime PDs represent the PD occurring over the next 12 months and the remaining maturity of the instrument respectively.
The EAD represents the expected balance at default, taking into account the repayment of principal and interest from the
balance sheet date to the default event together with any expected drawdowns of committed facilities. The LGD represents
expected losses on the EAD given the event of default, taking into account, among other attributes, the mitigating effect of
collateral value at the time it is expected to be realised and the time value of money.
Expected credit loss measurement is based on the ability of borrowers to make payments as they fall due. The Barclays Bank
Group also considers sector specific risks and whether additional adjustments are required in the measurement of ECL.
Credit risk may be impacted by climate considerations for certain sectors, such as oil and gas.
Determining a significant increase in credit risk since initial recognition:
The Barclays Bank Group assesses when a significant increase in credit risk has occurred based on quantitative and
qualitative assessments. The credit risk of an exposure is considered to have significantly increased when:
i) Quantitative test
The annualised lifetime PD has increased by more than an agreed threshold relative to the equivalent at origination.
PD deterioration thresholds are defined as percentage increases, and are set at an origination score band and segment level
to ensure the test appropriately captures significant increases in credit risk at all risk levels. Generally, thresholds are
inversely correlated to the origination PD, i.e. as the origination PD increases, the threshold value reduces.
The assessment of the point\u00a0at which a PD increase is deemed \u2018significant\u2019 is based upon analysis of the portfolio\u2019s risk
profile against a common set of principles and performance metrics (consistent across both retail and wholesale
businesses), incorporating expert credit judgement where appropriate. Application of quantitative PD floors does not
represent the use of the low credit risk exemption as exposures can separately move into stage 2 via the qualitative route
described below.
Wholesale assets apply a 100.0% increase in PD and 0.2% PD floor to determine a significant increase in credit risk.
Retail assets apply bespoke relative increase and absolute PD thresholds based on product type and origination PD.
Thresholds are subject to maximums defined by Barclays Bank Group policy and typically apply minimum relative thresholds
of 50%-100% and a maximum relative threshold of 400%
For existing/historical exposures where origination point scores or data are no longer available or do not represent a
comparable estimate of lifetime PD, a proxy origination score is defined, based upon:
\u25aa back-population of the approved lifetime PD score either to origination date or, where this is not feasible, as far back as
possible (subject to a data start point no later than 1 January 2015); or
\u25aa use of available historical account performance data and other customer information, to derive a comparable \u2018proxy\u2019
estimation of origination PD.
ii) Qualitative test
This is relevant for accounts that meet the portfolio\u2019s \u2018high risk\u2019 criteria and are subject to closer credit monitoring.
High risk customers may not be in arrears but either through an event or an observed behaviour exhibit credit distress. The
definition and assessment of high risk includes as wide a range of information as reasonably available, such as industry and
Barclays Bank Group-wide customer level data, including but not limited to bureau scores and high consumer indebtedness
index, wherever possible or relevant.
Whilst the high risk populations applied for IFRS 9 impairment purposes are aligned with risk management processes, they
are also regularly reviewed and validated to ensure that they capture any incremental segments where there is evidence of
credit deterioration.
iii) Backstop criteria
This is relevant for accounts that are more than 30 calendar days past due. The 30 days past due criteria is a backstop rather
than a primary driver of moving exposures into Stage 2.
The criteria for determining a significant increase in credit risk for assets with bullet repayments follows the same principle
as all other assets, i.e. quantitative, qualitative and backstop tests are all applied.
Exposures will move back to Stage 1 once they no longer meet the criteria for a significant increase in credit risk. This means
that, at a minimum all payments must be up-to-date, the PD deterioration test is no longer met, the account is no longer
classified as high risk, and the customer has evidenced an ability to maintain future payments.
Exposures are only removed from Stage 3 and re-assigned to Stage 2 once the original default trigger event no longer
applies. Exposures being removed from Stage 3 must no longer qualify as credit impaired, and:
a) the obligor will also have demonstrated consistently good payment behaviour over a 12-month period, by making all
consecutive contractual payments due and, for forborne exposures, the relevant EBA defined probationary period has also
been successfully completed; or
b) for non-forborne exposures the performance conditions are defined and approved within an appropriately sanctioned
restructure plan, including 12 months\u2019 payment history have been met.
Management overlays and other exceptions to model outputs are applied only if consistent with the objective of identifying
significant increases in credit risk.
Forward-looking information
The measurement of ECL involves complexity and judgement, including estimation of PD, LGD, a range of unbiased future
economic scenarios, estimation of expected lives (where contractual life is not appropriate), and estimation of EAD and
assessing significant increases in credit risk.
Credit losses are the expected cash shortfalls from what is contractually due over the expected life of the financial
instrument, discounted at the original effective interest rate (EIR). ECLs are the unbiased probability-weighted credit losses
determined by evaluating a range of possible outcomes and considering future economic conditions.
Refer to the Measurement uncertainty and sensitivity analysis section on page 185 for further details.
Definition of default, credit impaired assets, write-offs, and interest income recognition
The definition of default for the purpose of determining ECLs, and for internal credit risk management purposes, has been
aligned to the Regulatory Capital CRR Article 178 definition of default, to maintain a consistent approach with IFRS 9 and
associated regulatory guidance. The Regulatory Capital CRR Article 178 definition of default considers indicators that the
debtor is unlikely to pay, includes exposures in forbearance and is no later than when the exposure is more than 90 days
past due. When exposures are identified as credit impaired at the time when they are purchased or originated, interest
income is calculated on the carrying value net of the impairment allowance.
An asset is considered credit impaired when one or more events occur that have a detrimental impact on the estimated
future cash flows of the financial asset. This comprises assets defined as defaulted and other individually assessed exposures
where imminent default or actual loss is identified.
Uncollectible loans are written off against the related allowance for loan impairment on completion of the Barclays Bank
Group\u2019s internal processes and when all reasonably expected recoverable amounts have been collected. Subsequent
recoveries of amounts previously written off are credited to the income statement. The timing and extent of write-offs may
involve some element of subjective judgement. Nevertheless, a write-off will often be prompted by a specific event, such as
the inception of insolvency proceedings or other formal recovery action, which makes it possible to establish that some or
the entire advance is beyond realistic prospect of recovery.
Accounting for purchased financial guarantee contracts
The Barclays Bank Group may enter into a financial guarantee contract which requires the issuer of such contract to
reimburse the Barclays Bank Group for a loss it incurs because a specified debtor fails to make payment when due in
accordance with the terms of a debt instrument. For these separate financial guarantee contracts, the Barclays Bank Group
recognises a reimbursement asset aligned with the recognition of the underlying ECLs, if it is considered virtually certain that
a reimbursement would be received if the specified debtor fails to make payment when due in accordance with the terms of
the debt instrument.
Loan modifications and renegotiations that are not credit-impaired
When modification of a loan agreement occurs as a result of commercial restructuring activity rather than due to the credit
risk of the borrower, an assessment must be performed to determine whether the terms of the new agreement are
substantially different from the terms of the existing agreement.\u00a0This assessment considers both the change in cash flows
arising from the modified terms as well as the change in overall instrument risk profile. In respect of payment holidays
granted to borrowers which are not due to forbearance, if the revised cash flows on a present value basis (based on the
original EIR) are not substantially different from the original cash flows, the loan is not considered to be substantially
modified.
Where terms are substantially different, the existing loan will be derecognised and a new loan will be recognised at fair value,
with any difference in valuation recognised immediately within the income statement, subject to observability criteria.
Where terms are not substantially different, the loan carrying value will be adjusted to reflect the present value of modified
cash flows discounted at the original EIR, with any resulting gain or loss recognised immediately within the income
statement as a modification gain or loss.
Expected life
Lifetime ECLs must be measured over the expected life. This is restricted to the maximum contractual life and takes into
account expected prepayment, extension, call and similar options. The exceptions are certain revolver financial instruments,
such as credit cards and bank overdrafts, that include both a drawn and an undrawn component where the entity\u2019s
contractual ability to demand repayment and cancel the undrawn commitment does not limit the entity\u2019s exposure to credit
losses to the contractual notice period. For revolving facilities, expected life is analytically derived to reflect the behavioural
life of the asset, i.e. the full period over which the business expects to be exposed to credit risk. Behavioural life is typically
based upon historical analysis of the average time to default, closure or withdrawal of facility. Where data is insufficient or
analysis inconclusive, an additional \u2018maturity factor\u2019 may be incorporated to reflect the full estimated life of the exposures,
based upon experienced judgement and/or peer analysis. Potential future modifications of contracts are not taken into
account when determining the expected life or EAD until they occur.
Discounting
ECLs are discounted at the EIR at initial recognition or an approximation thereof and consistent with income recognition. For
loan commitments the EIR is the rate that is expected to apply when the loan is drawn down and a financial asset is
recognised. Issued financial guarantee contracts are discounted at the risk-free rate. Lease receivables are discounted at the
rate implicit in the lease. For variable/floating rate financial assets, the spot rate at the reporting date is used and projections
of changes in the variable rate over the expected life are not made to estimate future interest cash flows or for discounting.
Modelling techniques
Currently, Internal Ratings-Based models are leveraged to calculate the point-in-time PD and LGD, which serve as key inputs
to the IFRS 9 models. Thereafter, these inputs are extrapolated by the IFRS 9 models to create macroeconomic sensitive
forecast of PDs, LGDs and in turn ECL.
Forbearance
A financial asset is subject to forbearance when it is modified due to the credit distress of the borrower. A modification made
to the terms of an asset due to forbearance will typically be assessed as a non-substantial modification that does not result
in derecognition of the original loan, except in circumstances where debt is exchanged for equity.
Both performing and non-performing forbearance assets are classified as Stage 3 except where it is established that the
concession granted has not resulted in diminished financial obligation and that no other regulatory definitions of default
criteria have been triggered, in which case the asset is classified as Stage 2. The minimum probationary period for non-
performing forbearance is 12 months and for performing forbearance, 24 months. Hence, a minimum of 36 months is
required for non-performing forbearance to move out of a forborne state.
No financial instrument in forbearance can transfer back to Stage 1 until all of the Stage 2 thresholds are no longer met and
can only move out of Stage 3 when no longer credit impaired.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Identification and application of management adjustments in
response to circumstances outside the scope of the model.
Estimates include modelling assumptions such as estimating
forward-looking modelled parameters (PD, EAD\u00a0 & LGD), and a range
of unbiased future economic scenarios and scenario weightings.
These estimates are considered to have a significant risk of resulting in material adjustment to the carrying amounts of
financial instruments in scope of IFRS 9 impairment within the next financial year.
IFRS 9 impairment involves several important areas of judgement, including estimating forward looking modelled
parameters (PD, LGD and EAD), developing a range of unbiased future economic scenarios, estimating expected lives and
assessing significant increases in credit risk, based on the Barclays Bank Group\u2019s experience of managing credit risk. The
determination of expected life is most material for Barclays Bank Group's credit card portfolios which is obtained via
behavioural life analysis to materially capture the risk of these facilities.
Within the retail and small businesses portfolios, which comprise large numbers of small homogenous assets with similar
risk characteristics where credit scoring techniques are generally used, the impairment allowance is calculated using forward
looking modelled parameters which are typically run at account level. There are many models in use, each tailored to a
product, line of business or customer category. Judgement and knowledge is needed in selecting the statistical methods to
use when the models are developed or revised. Management adjustments to impairment models, which contain an element
of subjectivity, are applied in order to factor in certain conditions or changes in policy that are not fully incorporated into the
impairment models, or to reflect additional facts and circumstances at the period end. Management adjustments are
reviewed and incorporated into future model development where appropriate.
For individually significant assets in Stage 3, impairment allowances are calculated on an individual basis and all relevant
considerations that have a bearing on the expected future cash flows across a range of economic scenarios are taken into
account. These considerations can be particularly subjective and can include the business prospects for the customer, the
realisable value of collateral, the Barclays Bank Group\u2019s position relative to other claimants, the reliability of customer
information and the likely cost and duration of the work-out process. The level of the impairment allowance is the difference
between the value of the discounted expected future cash flows (discounted at the loan\u2019s original effective interest rate),
and its carrying amount. Furthermore, judgements change with time as new information becomes available or as work-out
strategies evolve, resulting in frequent revisions to the impairment allowance as individual decisions are taken. Changes in
these estimates would result in a change in the allowances and have a direct impact on the impairment charge.
Temporary adjustments to calculated IFRS 9 impairment allowances may be applied in limited circumstances to account for
situations where known or expected risk factors or information have not been considered in the ECL assessment or
modelling process. For further information please see pages 183 to 184 in credit risk performance.
Information about the potential impact of the physical and transition risks of climate change on borrowers is considered,
taking into account reasonable and supportable information to make accounting judgements and estimates. Climate change
is inherently of a long-term nature, with significant levels of uncertainty, and consequently requires judgement in
determining the possible impact in the next financial year, if any.
Credit impairment charges/(releases)
2025
2024
2023
Impairment
charges /
(releases)
Recoveries
and
reimburse-
ments1
Total 2,3
Impairment
charges /
(releases)
Recoveries
and
reimburse-
ments1
Total2
Impairment
charges /
(releases)
Recoveries
and
reimburse-
ments1
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Loans and advances at
amortised cost 4
1,992
(131)
1,861
1,687
(42)
1,645
1,656
(41)
1,615
Off-balance sheet loan
commitments and
financial
guarantee contracts
(1)
\u2014
(1)
(34)
\u2014
(34)
(37)
\u2014
(37)
Total
1,991
(131)
1,860
1,653
(42)
1,611
1,619
(41)
1,578
Cash collateral and
settlement balances
1
\u2014
1
(3)
\u2014
(3)
4
\u2014
4
Financial instruments
at fair value through
other comprehensive
income
(3)
\u2014
(3)
1
\u2014
1
(2)
\u2014
(2)
Reverse repurchase
agreements and other
similar secured lending
at amortised cost
5
\u2014
5
8
\u2014
8
\u2014
\u2014
\u2014
Other financial assets
measured at amortised
cost
3
\u2014
3
\u2014
\u2014
\u2014
(2)
\u2014
(2)
Credit impairment
charges /(releases)
1,997
(131)
1,866
1,659
(42)
1,617
1,619
(41)
1,578
Notes
1Recoveries and reimbursements include \u00a380m (2024: \u00a311m, 2023: \u00a324m) for reimbursements where the Barclays Bank Group has entered into
financial guarantee contracts which provide credit protection over certain assets with third parties and cash recoveries of previously written off
amounts of \u00a351m (2024: \u00a331m, 2023: \u00a317m).
2. Includes net impairment charge on co-branded card portfolio of \u00a3176m (2024:160m) within USCB classified as held for sale.
3\u00a0 Includes net impairment charge of \u00a3101m related to the acquisition of GM portfolio.
4Includes Debt securities at amortised cost.
Write-offs that can be subjected to enforcement activity
The contractual amount outstanding on financial assets that were written off during the year and that can still be subjected
to enforcement activity is \u00a3602m (2024: \u00a3500m, 2023: \u00a3395m) including \u00a363m pertaining to co-branded card portfolio
within USCB classified as held for sale in December 2024. This is lower than the write-offs presented in the movement in the
gross exposures and impairment allowance table due to assets sold during the year post write-offs and post write-off
recoveries.
Modification of financial assets
Financial assets of \u00a32,001m (2024: \u00a31,585m, 2023: \u00a32,177m), with a loss allowance measured at an amount equal to
lifetime ECL, were subject to non-substantial modification during the year, with a resulting loss of \u00a380m (2024: \u00a375m, 2023:
\u00a32m). The gross carrying amount at 31\u00a0December 2025 of financial assets subject to non-substantial modification for which
the loss allowance has changed to a 12-month ECL during the year amounts to \u00a3221m (2024: \u00a3101m, 2023: \u00a3149m).", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-549": { "value": "
Accounting for the impairment of financial assets
Impairment
In accordance with IFRS 9, the Barclays Bank Group is required to recognise expected credit losses (ECLs) based on unbiased
forward-looking information for all financial assets at amortised cost, lease receivables, debt financial assets at fair value
through other comprehensive income, loan commitments and financial guarantee contracts. Intercompany exposures in the
individual financial statements, including loan commitments and financial guarantee contracts, are also in scope of IFRS 9
for ECL purposes.
At the reporting date, an allowance (or provision for loan commitments and financial guarantees) is required for the 12
month (Stage 1) ECLs. If the credit risk has significantly increased since initial recognition (Stage 2), or if the financial
instrument is credit impaired (Stage 3), an allowance (or provision) should be recognised for the lifetime ECLs.
The measurement of ECL is calculated using three main components: (i) probability of default (PD) (ii) loss given default
(LGD) and (iii) the exposure at default (EAD).
The 12 month and lifetime ECLs are calculated by multiplying the respective PD, LGD and the EAD. The 12 month and
lifetime PDs represent the PD occurring over the next 12 months and the remaining maturity of the instrument respectively.
The EAD represents the expected balance at default, taking into account the repayment of principal and interest from the
balance sheet date to the default event together with any expected drawdowns of committed facilities. The LGD represents
expected losses on the EAD given the event of default, taking into account, among other attributes, the mitigating effect of
collateral value at the time it is expected to be realised and the time value of money.
Expected credit loss measurement is based on the ability of borrowers to make payments as they fall due. The Barclays Bank
Group also considers sector specific risks and whether additional adjustments are required in the measurement of ECL.
Credit risk may be impacted by climate considerations for certain sectors, such as oil and gas.
Determining a significant increase in credit risk since initial recognition:
The Barclays Bank Group assesses when a significant increase in credit risk has occurred based on quantitative and
qualitative assessments. The credit risk of an exposure is considered to have significantly increased when:
i) Quantitative test
The annualised lifetime PD has increased by more than an agreed threshold relative to the equivalent at origination.
PD deterioration thresholds are defined as percentage increases, and are set at an origination score band and segment level
to ensure the test appropriately captures significant increases in credit risk at all risk levels. Generally, thresholds are
inversely correlated to the origination PD, i.e. as the origination PD increases, the threshold value reduces.
The assessment of the point\u00a0at which a PD increase is deemed \u2018significant\u2019 is based upon analysis of the portfolio\u2019s risk
profile against a common set of principles and performance metrics (consistent across both retail and wholesale
businesses), incorporating expert credit judgement where appropriate. Application of quantitative PD floors does not
represent the use of the low credit risk exemption as exposures can separately move into stage 2 via the qualitative route
described below.
Wholesale assets apply a 100.0% increase in PD and 0.2% PD floor to determine a significant increase in credit risk.
Retail assets apply bespoke relative increase and absolute PD thresholds based on product type and origination PD.
Thresholds are subject to maximums defined by Barclays Bank Group policy and typically apply minimum relative thresholds
of 50%-100% and a maximum relative threshold of 400%
For existing/historical exposures where origination point scores or data are no longer available or do not represent a
comparable estimate of lifetime PD, a proxy origination score is defined, based upon:
\u25aa back-population of the approved lifetime PD score either to origination date or, where this is not feasible, as far back as
possible (subject to a data start point no later than 1 January 2015); or
\u25aa use of available historical account performance data and other customer information, to derive a comparable \u2018proxy\u2019
estimation of origination PD.
ii) Qualitative test
This is relevant for accounts that meet the portfolio\u2019s \u2018high risk\u2019 criteria and are subject to closer credit monitoring.
High risk customers may not be in arrears but either through an event or an observed behaviour exhibit credit distress. The
definition and assessment of high risk includes as wide a range of information as reasonably available, such as industry and
Barclays Bank Group-wide customer level data, including but not limited to bureau scores and high consumer indebtedness
index, wherever possible or relevant.
Whilst the high risk populations applied for IFRS 9 impairment purposes are aligned with risk management processes, they
are also regularly reviewed and validated to ensure that they capture any incremental segments where there is evidence of
credit deterioration.
iii) Backstop criteria
This is relevant for accounts that are more than 30 calendar days past due. The 30 days past due criteria is a backstop rather
than a primary driver of moving exposures into Stage 2.
The criteria for determining a significant increase in credit risk for assets with bullet repayments follows the same principle
as all other assets, i.e. quantitative, qualitative and backstop tests are all applied.
Exposures will move back to Stage 1 once they no longer meet the criteria for a significant increase in credit risk. This means
that, at a minimum all payments must be up-to-date, the PD deterioration test is no longer met, the account is no longer
classified as high risk, and the customer has evidenced an ability to maintain future payments.
Exposures are only removed from Stage 3 and re-assigned to Stage 2 once the original default trigger event no longer
applies. Exposures being removed from Stage 3 must no longer qualify as credit impaired, and:
a) the obligor will also have demonstrated consistently good payment behaviour over a 12-month period, by making all
consecutive contractual payments due and, for forborne exposures, the relevant EBA defined probationary period has also
been successfully completed; or
b) for non-forborne exposures the performance conditions are defined and approved within an appropriately sanctioned
restructure plan, including 12 months\u2019 payment history have been met.
Management overlays and other exceptions to model outputs are applied only if consistent with the objective of identifying
significant increases in credit risk.
Forward-looking information
The measurement of ECL involves complexity and judgement, including estimation of PD, LGD, a range of unbiased future
economic scenarios, estimation of expected lives (where contractual life is not appropriate), and estimation of EAD and
assessing significant increases in credit risk.
Credit losses are the expected cash shortfalls from what is contractually due over the expected life of the financial
instrument, discounted at the original effective interest rate (EIR). ECLs are the unbiased probability-weighted credit losses
determined by evaluating a range of possible outcomes and considering future economic conditions.
Refer to the Measurement uncertainty and sensitivity analysis section on page 185 for further details.
Definition of default, credit impaired assets, write-offs, and interest income recognition
The definition of default for the purpose of determining ECLs, and for internal credit risk management purposes, has been
aligned to the Regulatory Capital CRR Article 178 definition of default, to maintain a consistent approach with IFRS 9 and
associated regulatory guidance. The Regulatory Capital CRR Article 178 definition of default considers indicators that the
debtor is unlikely to pay, includes exposures in forbearance and is no later than when the exposure is more than 90 days
past due. When exposures are identified as credit impaired at the time when they are purchased or originated, interest
income is calculated on the carrying value net of the impairment allowance.
An asset is considered credit impaired when one or more events occur that have a detrimental impact on the estimated
future cash flows of the financial asset. This comprises assets defined as defaulted and other individually assessed exposures
where imminent default or actual loss is identified.
Uncollectible loans are written off against the related allowance for loan impairment on completion of the Barclays Bank
Group\u2019s internal processes and when all reasonably expected recoverable amounts have been collected. Subsequent
recoveries of amounts previously written off are credited to the income statement. The timing and extent of write-offs may
involve some element of subjective judgement. Nevertheless, a write-off will often be prompted by a specific event, such as
the inception of insolvency proceedings or other formal recovery action, which makes it possible to establish that some or
the entire advance is beyond realistic prospect of recovery.
Accounting for purchased financial guarantee contracts
The Barclays Bank Group may enter into a financial guarantee contract which requires the issuer of such contract to
reimburse the Barclays Bank Group for a loss it incurs because a specified debtor fails to make payment when due in
accordance with the terms of a debt instrument. For these separate financial guarantee contracts, the Barclays Bank Group
recognises a reimbursement asset aligned with the recognition of the underlying ECLs, if it is considered virtually certain that
a reimbursement would be received if the specified debtor fails to make payment when due in accordance with the terms of
the debt instrument.
Loan modifications and renegotiations that are not credit-impaired
When modification of a loan agreement occurs as a result of commercial restructuring activity rather than due to the credit
risk of the borrower, an assessment must be performed to determine whether the terms of the new agreement are
substantially different from the terms of the existing agreement.\u00a0This assessment considers both the change in cash flows
arising from the modified terms as well as the change in overall instrument risk profile. In respect of payment holidays
granted to borrowers which are not due to forbearance, if the revised cash flows on a present value basis (based on the
original EIR) are not substantially different from the original cash flows, the loan is not considered to be substantially
modified.
Where terms are substantially different, the existing loan will be derecognised and a new loan will be recognised at fair value,
with any difference in valuation recognised immediately within the income statement, subject to observability criteria.
Where terms are not substantially different, the loan carrying value will be adjusted to reflect the present value of modified
cash flows discounted at the original EIR, with any resulting gain or loss recognised immediately within the income
statement as a modification gain or loss.
Expected life
Lifetime ECLs must be measured over the expected life. This is restricted to the maximum contractual life and takes into
account expected prepayment, extension, call and similar options. The exceptions are certain revolver financial instruments,
such as credit cards and bank overdrafts, that include both a drawn and an undrawn component where the entity\u2019s
contractual ability to demand repayment and cancel the undrawn commitment does not limit the entity\u2019s exposure to credit
losses to the contractual notice period. For revolving facilities, expected life is analytically derived to reflect the behavioural
life of the asset, i.e. the full period over which the business expects to be exposed to credit risk. Behavioural life is typically
based upon historical analysis of the average time to default, closure or withdrawal of facility. Where data is insufficient or
analysis inconclusive, an additional \u2018maturity factor\u2019 may be incorporated to reflect the full estimated life of the exposures,
based upon experienced judgement and/or peer analysis. Potential future modifications of contracts are not taken into
account when determining the expected life or EAD until they occur.
Discounting
ECLs are discounted at the EIR at initial recognition or an approximation thereof and consistent with income recognition. For
loan commitments the EIR is the rate that is expected to apply when the loan is drawn down and a financial asset is
recognised. Issued financial guarantee contracts are discounted at the risk-free rate. Lease receivables are discounted at the
rate implicit in the lease. For variable/floating rate financial assets, the spot rate at the reporting date is used and projections
of changes in the variable rate over the expected life are not made to estimate future interest cash flows or for discounting.
Modelling techniques
Currently, Internal Ratings-Based models are leveraged to calculate the point-in-time PD and LGD, which serve as key inputs
to the IFRS 9 models. Thereafter, these inputs are extrapolated by the IFRS 9 models to create macroeconomic sensitive
forecast of PDs, LGDs and in turn ECL.
Forbearance
A financial asset is subject to forbearance when it is modified due to the credit distress of the borrower. A modification made
to the terms of an asset due to forbearance will typically be assessed as a non-substantial modification that does not result
in derecognition of the original loan, except in circumstances where debt is exchanged for equity.
Both performing and non-performing forbearance assets are classified as Stage 3 except where it is established that the
concession granted has not resulted in diminished financial obligation and that no other regulatory definitions of default
criteria have been triggered, in which case the asset is classified as Stage 2. The minimum probationary period for non-
performing forbearance is 12 months and for performing forbearance, 24 months. Hence, a minimum of 36 months is
required for non-performing forbearance to move out of a forborne state.
No financial instrument in forbearance can transfer back to Stage 1 until all of the Stage 2 thresholds are no longer met and
can only move out of Stage 3 when no longer credit impaired.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Identification and application of management adjustments in
response to circumstances outside the scope of the model.
Estimates include modelling assumptions such as estimating
forward-looking modelled parameters (PD, EAD\u00a0 & LGD), and a range
of unbiased future economic scenarios and scenario weightings.
These estimates are considered to have a significant risk of resulting in material adjustment to the carrying amounts of
financial instruments in scope of IFRS 9 impairment within the next financial year.
IFRS 9 impairment involves several important areas of judgement, including estimating forward looking modelled
parameters (PD, LGD and EAD), developing a range of unbiased future economic scenarios, estimating expected lives and
assessing significant increases in credit risk, based on the Barclays Bank Group\u2019s experience of managing credit risk. The
determination of expected life is most material for Barclays Bank Group's credit card portfolios which is obtained via
behavioural life analysis to materially capture the risk of these facilities.
Within the retail and small businesses portfolios, which comprise large numbers of small homogenous assets with similar
risk characteristics where credit scoring techniques are generally used, the impairment allowance is calculated using forward
looking modelled parameters which are typically run at account level. There are many models in use, each tailored to a
product, line of business or customer category. Judgement and knowledge is needed in selecting the statistical methods to
use when the models are developed or revised. Management adjustments to impairment models, which contain an element
of subjectivity, are applied in order to factor in certain conditions or changes in policy that are not fully incorporated into the
impairment models, or to reflect additional facts and circumstances at the period end. Management adjustments are
reviewed and incorporated into future model development where appropriate.
For individually significant assets in Stage 3, impairment allowances are calculated on an individual basis and all relevant
considerations that have a bearing on the expected future cash flows across a range of economic scenarios are taken into
account. These considerations can be particularly subjective and can include the business prospects for the customer, the
realisable value of collateral, the Barclays Bank Group\u2019s position relative to other claimants, the reliability of customer
information and the likely cost and duration of the work-out process. The level of the impairment allowance is the difference
between the value of the discounted expected future cash flows (discounted at the loan\u2019s original effective interest rate),
and its carrying amount. Furthermore, judgements change with time as new information becomes available or as work-out
strategies evolve, resulting in frequent revisions to the impairment allowance as individual decisions are taken. Changes in
these estimates would result in a change in the allowances and have a direct impact on the impairment charge.
Temporary adjustments to calculated IFRS 9 impairment allowances may be applied in limited circumstances to account for
situations where known or expected risk factors or information have not been considered in the ECL assessment or
modelling process. For further information please see pages 183 to 184 in credit risk performance.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-550": { "value": "
Accounting for purchased financial guarantee contracts
The Barclays Bank Group may enter into a financial guarantee contract which requires the issuer of such contract to
reimburse the Barclays Bank Group for a loss it incurs because a specified debtor fails to make payment when due in
accordance with the terms of a debt instrument. For these separate financial guarantee contracts, the Barclays Bank Group
recognises a reimbursement asset aligned with the recognition of the underlying ECLs, if it is considered virtually certain that
a reimbursement would be received if the specified debtor fails to make payment when due in accordance with the terms of
the debt instrument.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-551": { "value": "Tax
Accounting for income taxes
The Barclays Bank Group applies IAS 12 Income Taxes in accounting for taxes on income. Income tax payable on taxable
profits (current tax) is recognised as an expense in the periods in which the profits arise. Withholding taxes are also treated
as income taxes. Income tax recoverable on tax allowable losses is recognised as a current tax asset only to the extent that it
is regarded as recoverable by offsetting against taxable profits arising in the current or prior periods. Current tax is measured
using tax rates and tax laws that have been enacted or substantively enacted at the balance sheet date.
Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the
deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised.
Deferred tax liabilities are recognised for all taxable temporary differences except for the initial recognition of goodwill.
Deferred tax is not recognised where the temporary difference arises from the initial recognition of an asset or liability in a
transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor
taxable profit or loss. Deferred tax is determined using tax rates and legislation enacted or substantively enacted by the
balance sheet date which are expected to apply when the deferred tax asset is realised or the deferred tax liability is settled.
Deferred tax assets and liabilities are only offset when there is both a legal right to set-off and an intention to settle on a net
basis.
The Barclays Bank Group has adopted the International Tax Reform - Pillar Two Model Rules amendments to IAS 12, which
were issued on 23 May 2023 and approved by the UK Endorsement Board on 19 July 2023, and has applied the exception set
out in paragraph 4A in respect of recognising and disclosing information about deferred tax assets and liabilities related to
Pillar Two income taxes.
The Barclays Bank Group considers an uncertain tax position to exist when it considers that ultimately, in the future, the
amount of profit subject to tax may be greater than the amount initially reflected in the Barclays Bank Group\u2019s tax returns.
The Barclays Bank Group accounts for provisions in respect of uncertain tax positions in two different ways.
A current tax provision is recognised when it is considered probable that the outcome of a review by a tax authority of an
uncertain tax position will alter the amount of cash tax due to, or from, a tax authority in the future.\u00a0From recognition, the
current tax provision is then measured at the amount the Barclays Bank Group ultimately expects to pay the tax authority to
resolve the position. The accrual of interest and penalty amounts in respect of uncertain income tax positions is recognised
as an expense within profit before tax.
Deferred tax provisions are adjustments made to the carrying value of deferred tax assets in respect of uncertain tax
positions. A deferred tax provision is recognised when it is considered probable that the outcome of a review by a tax
authority of an uncertain tax position will result in a reduction in the carrying value of the deferred tax asset.\u00a0From
recognition of a provision, measurement of the underlying deferred tax asset is adjusted to take into account the expected
impact of resolving the uncertain tax position on the loss or temporary difference giving rise to the deferred tax asset.
The approach taken to measurement takes account of whether the uncertain tax position is a discrete position that will be
reviewed by the tax authority in isolation from any other position, or one of a number of issues which are expected to be
reviewed together concurrently and resolved simultaneously with a tax authority. The Barclays Bank Group\u2019s measurement
of provisions is based upon its best estimate of the additional profit that will become subject to tax. For a discrete position,
consideration is given only to the merits of that position. Where a number of issues are expected to be reviewed and
resolved together, the Barclays Bank Group will take into account not only the merits of its position in respect of each
particular issue but also the overall level of provision relative to the aggregate of the uncertain tax positions across all the
issues that are expected to be resolved at the same time. In addition, in assessing provision levels, it is assumed that tax
authorities will review uncertain tax positions and that all facts will be fully and transparently disclosed.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Recognition of deferred tax assets and determination of provisions
for uncertain tax positions.
Measurement of deferred tax balances and the level of provisioning
for uncertain tax positions.
The Barclays Bank Group does not consider there to be a significant risk of a material adjustment to the carrying amount of
current and deferred tax balances, including provisions for uncertain tax positions in the next financial year. The provisions
for uncertain tax positions cover a diverse range of issues and reflect advice from external counsel where relevant.\u00a0It should
be noted that only a proportion of the total uncertain tax positions will be under audit at any point in time, and could
therefore be subject to challenge by a tax authority over the next year.
Deferred tax assets have been recognised based on business profit forecasts which included consideration for the current
view of climate impacts. Details on the recognition of deferred tax assets are provided in this note.
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Current tax charge/(credit)
Current year
982
680
605
Adjustments in respect of prior years
(9)
42
(96)
973
722
509
Deferred tax charge
Current year
219
239
43
Adjustments in respect of prior years
93
38
110
312
277
153
Tax charge
1,285
999
662
The table below shows the reconciliation between the actual tax charge and the tax charge that would result from applying
the standard UK corporation tax rate to the Barclays Bank Group\u2019s profit before tax.
2025
2025
2024
2024
2023
2023
\u00a3m
%
\u00a3m
%
\u00a3m
%
Profit before tax from continuing operations
5,943
4,747
4,223
Tax charge based on the applicable UK corporation tax rate of 25% (2024:
25%, 2023: 23.5% )
1,486
25.0%
1,187
25.0%
992
23.5%
Impact of profits/losses earned in territories with different statutory rates to
the UK (weighted average tax rate is 23.5% (2024: 23%, 2023 : 23.6%))
(88)
(1.5%)
(95)
(2.0%)
3
0.1%
Recurring items:
Non-creditable taxes including withholding taxes
134
2.3%
95
2.0%
124
3.0%
Adjustments in respect of prior years
84
1.5%
80
1.7%
14
0.3%
Changes in recognition of deferred tax and effect of unrecognised tax losses
49
0.8%
69
1.5%
(58)
(1.4%)
Impact of UK bank levy being non-deductible
47
0.8%
47
1.0%
35
0.8%
Non-deductible expenses
35
0.6%
44
0.9%
47
1.1%
Non-taxable gains and income
(29)
(0.5%)
(74)
(1.6%)
(60)
(1.4%)
Other items including banking surcharge1
(110)
(2.0%)
(32)
(0.7%)
(74)
(1.8%)
Tax relief on payments made under AT1 instruments
(189)
(3.2%)
(189)
(4.0%)
(174)
(4.1%)
Tax relief on holdings of inflation-linked government bonds
(194)
(3.3%)
(157)
(3.3%)
(194)
(4.6%)
Non-recurring items:
Non-deductible provisions for UK customer redress
47
0.8%
22
0.5%
7
0.2%
Non-deductible provisions for investigations and litigation
10
0.2%
2
0.0%
\u2014
\u2014
Non-deductible impairments and losses on divestments
3
0.1%
\u2014
\u2014
\u2014
\u2014
Total tax charge
1,285
21.6%
999
21.0%
662
15.7%
Note
1Banking surcharge includes the impact of the 3% UK banking surcharge rate on profits/losses and tax adjustments relating to UK banking
entities.
Factors influencing the effective tax rate
The effective tax rate of 21.6% is lower than the UK corporation tax rate of 25% primarily due to tax relief on holdings of
inflation-linked government bonds and tax relief on payments made under AT1 instruments. These factors, which have each
decreased the effective tax rate, are partially offset by non-creditable taxes including withholding taxes. The tax charge for
the year also includes \u00a322m in respect of global minimum tax arising under the Pillar Two rules.
Factors that may influence the effective tax rate in future periods
The Barclays Bank Group\u2019s future tax charge will be sensitive to the geographic mix of profits earned, the tax rates in force
and changes to the tax rules in the jurisdictions that the Barclays Bank Group operates in.
Tax law is, at times, complex, and it is the role of courts and tribunals to act as the final authority on the correct
interpretation of tax law. In October 2023, a First-tier Tax Tribunal hearing took place between Barclays Bank PLC and HM
Revenue & Customs (HMRC) in respect of the UK corporation tax treatment of an element of the finance costs associated
with reserve capital instruments issued as part of the capital raising announced by Barclays in October 2008, which have
since been redeemed. The judgment was handed down in March 2024 and was in HMRC\u2019s favour. In January 2025, Barclays
was granted permission from the Upper Tribunal to appeal against the judgment and the Upper Tribunal will hear the case in
2026. A provision is carried that is expected to be sufficient to cover the tax cost (once tax attributes that are available to
partially offset a potential tax liability in respect of this issue are taken into account) in the event that the appeal is
unsuccessful and the existing judgment were to stand.
Tax in the consolidated statement of comprehensive income
Tax relating to each component of other comprehensive income can be found in the consolidated statement of
comprehensive income.
Tax included directly in equity
Tax included directly in equity comprises a \u00a3189m credit (2024: \u00a394m credit) relating to share-based payments and
deductible costs on issuing other equity instruments.
Deferred tax assets and liabilities
The deferred tax amounts on the balance sheet were as follows:
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
UK Tax Group
1,433
2,315
US Intermediate Holding Company Tax Group (\"IHC Tax Group\")
1,005
1,162
Barclays Bank PLC's US Branch Tax Group
255
270
Other (outside the UK and US tax groups)
243
386
Deferred tax asset
2,936
4,133
Deferred tax liability
(1)
(2)
Net deferred tax
2,935
4,131
UK Tax Group deferred tax assets and liabilities
The net deferred tax asset in the UK Tax Group of \u00a31,433 m (2024 : \u00a32,315m) includes a deferred tax asset of \u00a3846 m (2024:
\u00a31,066m) relating to tax losses with the balance relating to temporary differences. There is no time limit on utilisation of UK
tax losses and business profit forecasts indicate these losses will be fully recovered.
US deferred tax assets in the IHC and the US Branch Tax Groups
The deferred tax asset in the IHC Tax Group of \u00a31,005m ( 2024 : \u00a31,162m ) includes \u00a3 12m (2024: \u00a338m) relating to tax
losses, with the balance relating to temporary differences. The deferred tax asset in Barclays Bank PLC\u2019s US Branch Tax
Group of \u00a3255m (2024: \u00a3270m) relates entirely to temporary differences.
In relation to the IHC Tax Group, these temporary differences include \u00a3307m (2024: \u00a3365m) arising from New York State
and City prior net operating loss conversion which can be carried forward and will expire in 2034. Business profit forecasts
indicate that these amounts will be utilised prior to expiry.
Other deferred tax assets (outside the UK and US tax groups)
The deferred tax asset of \u00a3243m (2024: \u00a3386m) in other entities within the Barclays Bank Group includes \u00a3 54m (2024:
\u00a3111m) relating to tax losses. These deferred tax assets relate to a number of different territories and their recognition is
based on profit forecasts or local country law which indicate that it is probable that those deferred tax assets will be fully
recovered.
Of the deferred tax asset of \u00a3243m ( 2024 : \u00a3386m), an amount of \u00a312m (2024 : \u00a34m ) relates to entities which have suffered
a loss in either the current or prior year and for which the utilisation of the deferred tax is dependent on future taxable
profits. This has been taken into account in reaching the above conclusion that these deferred tax assets will be fully
recovered in the future.
The table below shows movements on deferred tax assets and liabilities during the year. The amounts are different from
those disclosed on the balance sheet and in the preceding table as they are presented before offsetting asset and liability
balances where there is a legal right to set-off and an intention to settle on a net basis.
Barclays Bank Group
Fixed asset
timing
differences
Fair value
through other
comprehensive
income
Cash
flow
hedges
Retirement
benefit
obligations
Loan
impairment
allowance
Own
credit
Share based
payments and
deferred
compensation
Other
temporary
differences
Tax
losses
carried
forward
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Assets
367
691
904
12
408
394
409
878
1,215
5,278
Liabilities
(109)
\u2014
(3)
(897)
\u2014
\u2014
\u2014
(138)
\u2014
(1,147)
As at 1 January 2025
258
691
901
(885)
408
394
409
740
1,215
4,131
Income statement
42
\u2014
\u2014
14
(151)
\u2014
40
25
(282)
(312)
Other comprehensive
income and reserves
\u2014
(256)
(582)
(7)
\u2014
(28)
114
1
\u2014
(758)
Other movements
(14)
\u2014
(2)
(32)
1
(16)
(42)
(21)
(126)
286
435
319
(880)
225
367
547
724
912
2,935
Assets
380
435
319
14
225
367
547
772
912
3,971
Liabilities
(94)
\u2014
\u2014
(894)
\u2014
\u2014
\u2014
(48)
\u2014
(1,036)
As at 31 December
2025
286
435
319
(880)
225
367
547
724
912
2,935
Assets
275
510
1,058
16
506
85
327
903
1,423
5,103
Liabilities
(112)
\u2014
\u2014
(1,014)
\u2014
\u2014
\u2014
(92)
\u2014
(1,218)
As at 1 January 2024
163
510
1,058
(998)
506
85
327
811
1,423
3,885
Income statement
90
\u2014
\u2014
(3)
(79)
1
(6)
(72)
(208)
(277)
Other comprehensive
income and reserves
\u2014
181
(157)
116
\u2014
308
79
1
\u2014
528
Other movements
5
\u2014
\u2014
\u2014
(19)
\u2014
9
\u2014
\u2014
(5)
258
691
901
(885)
408
394
409
740
1,215
4,131
Assets
367
691
904
12
408
394
409
878
1,215
5,278
Liabilities
(109)
\u2014
(3)
(897)
\u2014
\u2014
\u2014
(138)
\u2014
(1,147)
As at 31 December
2024
258
691
901
(885)
408
394
409
740
1,215
4,131
Other movements include the impact of changes in foreign exchange rates as well as deferred tax amounts relating to
acquisitions and disposals.
The amount of deferred tax asset expected to be recovered after more than 12 months for the Barclays Bank Group is
\u00a33,590m (2024: \u00a34,662m ) and for Barclays Bank PLC is \u00a32,236m (2024: \u00a3 3,228 m). The amount of deferred tax liability
expected to be settled after more than 12 months for the Barclays Bank Group is \u00a3 1,023m ( 2024 : \u00a31,021m) and for Barclays
Bank PLC is \u00a3870 m (2024 : \u00a3878 m). These amounts are before offsetting asset and liability balances where there is a legal
right to set-off and an intention to settle on a net basis.
Unrecognised deferred tax
Tax losses and temporary differences
The Barclays Bank Group has deferred tax assets not recognised in respect of gross deductible temporary differences of
\u00a3288 m (2024: \u00a3373m), unused tax credits of \u00a3336m ( 2024: \u00a3359m), and gross tax losses of \u00a321,016m ( 2024: \u00a321,021m ).
The tax losses include capital losses of \u00a33,719m (2024 : \u00a33,629m). Of these tax losses, \u00a3 13m ( 2024 : \u00a313m) expire within five
years, \u00a32,216m (2024: \u00a36m) expire within six to ten years, \u00a39,747 m ( 2024: \u00a311,789m) expire within eleven to twenty years
and \u00a3 9,040m ( 2024: \u00a39,213m) can be carried forward indefinitely. Deferred tax assets have not been recognised in respect
of these items because it is not probable that future taxable profits and gains will be available against which they can be
utilised.
Barclays Bank Group investments in subsidiaries, branches and associates
Deferred tax is not recognised in respect of the value of Barclays Bank Group's investments in subsidiaries, branches and
associates where the Barclays Bank Group is able to control the timing of the reversal of the temporary differences and it is
probable that such differences will not reverse in the foreseeable future. The aggregate amount of these temporary
differences for which deferred tax liabilities have not been recognised was \u00a3868m (2024: \u00a3873m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-552": { "value": "
Accounting for income taxes
The Barclays Bank Group applies IAS 12 Income Taxes in accounting for taxes on income. Income tax payable on taxable
profits (current tax) is recognised as an expense in the periods in which the profits arise. Withholding taxes are also treated
as income taxes. Income tax recoverable on tax allowable losses is recognised as a current tax asset only to the extent that it
is regarded as recoverable by offsetting against taxable profits arising in the current or prior periods. Current tax is measured
using tax rates and tax laws that have been enacted or substantively enacted at the balance sheet date.
Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the
deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised.
Deferred tax liabilities are recognised for all taxable temporary differences except for the initial recognition of goodwill.
Deferred tax is not recognised where the temporary difference arises from the initial recognition of an asset or liability in a
transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor
taxable profit or loss. Deferred tax is determined using tax rates and legislation enacted or substantively enacted by the
balance sheet date which are expected to apply when the deferred tax asset is realised or the deferred tax liability is settled.
Deferred tax assets and liabilities are only offset when there is both a legal right to set-off and an intention to settle on a net
basis.
The Barclays Bank Group has adopted the International Tax Reform - Pillar Two Model Rules amendments to IAS 12, which
were issued on 23 May 2023 and approved by the UK Endorsement Board on 19 July 2023, and has applied the exception set
out in paragraph 4A in respect of recognising and disclosing information about deferred tax assets and liabilities related to
Pillar Two income taxes.
The Barclays Bank Group considers an uncertain tax position to exist when it considers that ultimately, in the future, the
amount of profit subject to tax may be greater than the amount initially reflected in the Barclays Bank Group\u2019s tax returns.
The Barclays Bank Group accounts for provisions in respect of uncertain tax positions in two different ways.
A current tax provision is recognised when it is considered probable that the outcome of a review by a tax authority of an
uncertain tax position will alter the amount of cash tax due to, or from, a tax authority in the future.\u00a0From recognition, the
current tax provision is then measured at the amount the Barclays Bank Group ultimately expects to pay the tax authority to
resolve the position. The accrual of interest and penalty amounts in respect of uncertain income tax positions is recognised
as an expense within profit before tax.
Deferred tax provisions are adjustments made to the carrying value of deferred tax assets in respect of uncertain tax
positions. A deferred tax provision is recognised when it is considered probable that the outcome of a review by a tax
authority of an uncertain tax position will result in a reduction in the carrying value of the deferred tax asset.\u00a0From
recognition of a provision, measurement of the underlying deferred tax asset is adjusted to take into account the expected
impact of resolving the uncertain tax position on the loss or temporary difference giving rise to the deferred tax asset.
The approach taken to measurement takes account of whether the uncertain tax position is a discrete position that will be
reviewed by the tax authority in isolation from any other position, or one of a number of issues which are expected to be
reviewed together concurrently and resolved simultaneously with a tax authority. The Barclays Bank Group\u2019s measurement
of provisions is based upon its best estimate of the additional profit that will become subject to tax. For a discrete position,
consideration is given only to the merits of that position. Where a number of issues are expected to be reviewed and
resolved together, the Barclays Bank Group will take into account not only the merits of its position in respect of each
particular issue but also the overall level of provision relative to the aggregate of the uncertain tax positions across all the
issues that are expected to be resolved at the same time. In addition, in assessing provision levels, it is assumed that tax
authorities will review uncertain tax positions and that all facts will be fully and transparently disclosed.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Recognition of deferred tax assets and determination of provisions
for uncertain tax positions.
Measurement of deferred tax balances and the level of provisioning
for uncertain tax positions.
The Barclays Bank Group does not consider there to be a significant risk of a material adjustment to the carrying amount of
current and deferred tax balances, including provisions for uncertain tax positions in the next financial year. The provisions
for uncertain tax positions cover a diverse range of issues and reflect advice from external counsel where relevant.\u00a0It should
be noted that only a proportion of the total uncertain tax positions will be under audit at any point in time, and could
therefore be subject to challenge by a tax authority over the next year.
Deferred tax assets have been recognised based on business profit forecasts which included consideration for the current
view of climate impacts. Details on the recognition of deferred tax assets are provided in this note.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-553": { "value": "
Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the
deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised.
Deferred tax liabilities are recognised for all taxable temporary differences except for the initial recognition of goodwill.
Deferred tax is not recognised where the temporary difference arises from the initial recognition of an asset or liability in a
transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor
taxable profit or loss. Deferred tax is determined using tax rates and legislation enacted or substantively enacted by the
balance sheet date which are expected to apply when the deferred tax asset is realised or the deferred tax liability is settled.
Deferred tax assets and liabilities are only offset when there is both a legal right to set-off and an intention to settle on a net
basis.
The Barclays Bank Group has adopted the International Tax Reform - Pillar Two Model Rules amendments to IAS 12, which
were issued on 23 May 2023 and approved by the UK Endorsement Board on 19 July 2023, and has applied the exception set
out in paragraph 4A in respect of recognising and disclosing information about deferred tax assets and liabilities related to
Pillar Two income taxes.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-554": { "value": "
Deferred tax assets and liabilities
The deferred tax amounts on the balance sheet were as follows:
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
UK Tax Group
1,433
2,315
US Intermediate Holding Company Tax Group (\"IHC Tax Group\")
1,005
1,162
Barclays Bank PLC's US Branch Tax Group
255
270
Other (outside the UK and US tax groups)
243
386
Deferred tax asset
2,936
4,133
Deferred tax liability
(1)
(2)
Net deferred tax
2,935
4,131
UK Tax Group deferred tax assets and liabilities
The net deferred tax asset in the UK Tax Group of \u00a31,433 m (2024 : \u00a32,315m) includes a deferred tax asset of \u00a3846 m (2024:
\u00a31,066m) relating to tax losses with the balance relating to temporary differences. There is no time limit on utilisation of UK
tax losses and business profit forecasts indicate these losses will be fully recovered.
US deferred tax assets in the IHC and the US Branch Tax Groups
The deferred tax asset in the IHC Tax Group of \u00a31,005m ( 2024 : \u00a31,162m ) includes \u00a3 12m (2024: \u00a338m) relating to tax
losses, with the balance relating to temporary differences. The deferred tax asset in Barclays Bank PLC\u2019s US Branch Tax
Group of \u00a3255m (2024: \u00a3270m) relates entirely to temporary differences.
In relation to the IHC Tax Group, these temporary differences include \u00a3307m (2024: \u00a3365m) arising from New York State
and City prior net operating loss conversion which can be carried forward and will expire in 2034. Business profit forecasts
indicate that these amounts will be utilised prior to expiry.
Other deferred tax assets (outside the UK and US tax groups)
The deferred tax asset of \u00a3243m (2024: \u00a3386m) in other entities within the Barclays Bank Group includes \u00a3 54m (2024:
\u00a3111m) relating to tax losses. These deferred tax assets relate to a number of different territories and their recognition is
based on profit forecasts or local country law which indicate that it is probable that those deferred tax assets will be fully
recovered.
Of the deferred tax asset of \u00a3243m ( 2024 : \u00a3386m), an amount of \u00a312m (2024 : \u00a34m ) relates to entities which have suffered
a loss in either the current or prior year and for which the utilisation of the deferred tax is dependent on future taxable
profits. This has been taken into account in reaching the above conclusion that these deferred tax assets will be fully
recovered in the future.
The table below shows movements on deferred tax assets and liabilities during the year. The amounts are different from
those disclosed on the balance sheet and in the preceding table as they are presented before offsetting asset and liability
balances where there is a legal right to set-off and an intention to settle on a net basis.
Barclays Bank Group
Fixed asset
timing
differences
Fair value
through other
comprehensive
income
Cash
flow
hedges
Retirement
benefit
obligations
Loan
impairment
allowance
Own
credit
Share based
payments and
deferred
compensation
Other
temporary
differences
Tax
losses
carried
forward
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Assets
367
691
904
12
408
394
409
878
1,215
5,278
Liabilities
(109)
\u2014
(3)
(897)
\u2014
\u2014
\u2014
(138)
\u2014
(1,147)
As at 1 January 2025
258
691
901
(885)
408
394
409
740
1,215
4,131
Income statement
42
\u2014
\u2014
14
(151)
\u2014
40
25
(282)
(312)
Other comprehensive
income and reserves
\u2014
(256)
(582)
(7)
\u2014
(28)
114
1
\u2014
(758)
Other movements
(14)
\u2014
(2)
(32)
1
(16)
(42)
(21)
(126)
286
435
319
(880)
225
367
547
724
912
2,935
Assets
380
435
319
14
225
367
547
772
912
3,971
Liabilities
(94)
\u2014
\u2014
(894)
\u2014
\u2014
\u2014
(48)
\u2014
(1,036)
As at 31 December
2025
286
435
319
(880)
225
367
547
724
912
2,935
Assets
275
510
1,058
16
506
85
327
903
1,423
5,103
Liabilities
(112)
\u2014
\u2014
(1,014)
\u2014
\u2014
\u2014
(92)
\u2014
(1,218)
As at 1 January 2024
163
510
1,058
(998)
506
85
327
811
1,423
3,885
Income statement
90
\u2014
\u2014
(3)
(79)
1
(6)
(72)
(208)
(277)
Other comprehensive
income and reserves
\u2014
181
(157)
116
\u2014
308
79
1
\u2014
528
Other movements
5
\u2014
\u2014
\u2014
(19)
\u2014
9
\u2014
\u2014
(5)
258
691
901
(885)
408
394
409
740
1,215
4,131
Assets
367
691
904
12
408
394
409
878
1,215
5,278
Liabilities
(109)
\u2014
(3)
(897)
\u2014
\u2014
\u2014
(138)
\u2014
(1,147)
As at 31 December
2024
258
691
901
(885)
408
394
409
740
1,215
4,131
Other movements include the impact of changes in foreign exchange rates as well as deferred tax amounts relating to
acquisitions and disposals.
The amount of deferred tax asset expected to be recovered after more than 12 months for the Barclays Bank Group is
\u00a33,590m (2024: \u00a34,662m ) and for Barclays Bank PLC is \u00a32,236m (2024: \u00a3 3,228 m). The amount of deferred tax liability
expected to be settled after more than 12 months for the Barclays Bank Group is \u00a3 1,023m ( 2024 : \u00a31,021m) and for Barclays
Bank PLC is \u00a3870 m (2024 : \u00a3878 m). These amounts are before offsetting asset and liability balances where there is a legal
right to set-off and an intention to settle on a net basis.
Unrecognised deferred tax
Tax losses and temporary differences
The Barclays Bank Group has deferred tax assets not recognised in respect of gross deductible temporary differences of
\u00a3288 m (2024: \u00a3373m), unused tax credits of \u00a3336m ( 2024: \u00a3359m), and gross tax losses of \u00a321,016m ( 2024: \u00a321,021m ).
The tax losses include capital losses of \u00a33,719m (2024 : \u00a33,629m). Of these tax losses, \u00a3 13m ( 2024 : \u00a313m) expire within five
years, \u00a32,216m (2024: \u00a36m) expire within six to ten years, \u00a39,747 m ( 2024: \u00a311,789m) expire within eleven to twenty years
and \u00a3 9,040m ( 2024: \u00a39,213m) can be carried forward indefinitely. Deferred tax assets have not been recognised in respect
of these items because it is not probable that future taxable profits and gains will be available against which they can be
utilised.
Barclays Bank Group investments in subsidiaries, branches and associates
Deferred tax is not recognised in respect of the value of Barclays Bank Group's investments in subsidiaries, branches and
associates where the Barclays Bank Group is able to control the timing of the reversal of the temporary differences and it is
probable that such differences will not reverse in the foreseeable future. The aggregate amount of these temporary
differences for which deferred tax liabilities have not been recognised was \u00a3868m (2024: \u00a3873m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-555": { "value": "Dividends on ordinary shares and preference shares
The 2025 financial statements include \u00a32,570m (2024: \u00a31,782m , 2023 : \u00a31,348m) of dividends paid on ordinary shares. This
comprises a 2024 interim dividend of \u00a31,195m (2023; \u00a3852 m, 2022: \u00a3700m) and an interim dividend in relation to 2025 of
\u00a3 1,375m (2024 : interim dividend of \u00a3930m , 2023 : interim dividend of \u00a3648m).
This results in a total dividend for the year of \u00a31.10 (2024 : \u00a30.76, 2023: \u00a30.58) per ordinary share.
Dividends paid on preference shares amounted to \u00a332m (2024 : \u00a341m, 2023; \u00a340m). Dividends paid on the Euro preference
shares amounted to \u00a3145.38 per share (2024: \u00a3384.56, 2023: \u00a3333.36 ). Dividends paid on the US Dollar preference shares
amounted to \u00a3464.77 per share ( 2024: \u00a3493.20, 2023: \u00a3499.58).
The Directors have approved a full year dividend in respect of 2025 of \u00a31,175m. The financial statements for the year ended
31 December 2025 do not reflect this dividend, which will be accounted for in shareholders\u2019 equity as an appropriation of
retained profits in the year ending 31 December 2026.", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-556": { "value": "1.10", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "f-557": { "value": "0.76", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "f-558": { "value": "0.58", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "f-559": { "value": "1175000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:GBP" } }, "f-561": { "value": "Trading portfolio
Accounting for trading portfolio assets and liabilities
All assets and liabilities held for trading purposes are held at fair value with gains and losses in the changes in fair value
taken to the income statement in net trading income (Note 5).
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Debt securities and other eligible bills
94,040
77,805
Equity securities
83,243
74,859
Traded loans
12,249
13,470
Commodities
211
110
Trading Portfolio Assets
189,743
166,244
Debt securities and other eligible bills
(32,309)
(36,324)
Equity securities
(24,520)
(19,858)
Trading Portfolio Liabilities
(56,829)
(56,182)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-560": { "value": "Trading portfolio
Accounting for trading portfolio assets and liabilities
All assets and liabilities held for trading purposes are held at fair value with gains and losses in the changes in fair value
taken to the income statement in net trading income (Note 5).
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Debt securities and other eligible bills
94,040
77,805
Equity securities
83,243
74,859
Traded loans
12,249
13,470
Commodities
211
110
Trading Portfolio Assets
189,743
166,244
Debt securities and other eligible bills
(32,309)
(36,324)
Equity securities
(24,520)
(19,858)
Trading Portfolio Liabilities
(56,829)
(56,182)
Financial assets at fair value through the income statemen t
Accounting for financial assets designated at fair value
Financial assets, other than those held for trading, are classified in this category if they are so irrevocably designated at
inception and the use of the designation removes or significantly reduces an accounting mismatch.
Subsequent changes in fair value for these instruments are recognised in the income statement in net investment income,
except if reporting it in trading income reduces an accounting mismatch.
The details on how the fair value amounts are derived for financial assets at fair value are described in Note 16.
Accounting for financial assets mandatorily at fair value
Financial assets that are held for trading are recognised at fair value through profit or loss. In addition, financial assets are
held at fair value through profit or loss if they do not contain contractual terms that give rise on specified dates to cash
flows that are Solely Payments of Principal and Interest (SPPI), or if the financial asset is not held in a business model that is
either (i) a business model to collect the contractual cash flows or (ii) a business model that is achieved by both collecting
contractual cash flows and selling.
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Loans and advances
785
1,039
Debt securities
303
182
Other financial assets
\u2014
\u2014
Financial assets designated at fair value\u00a0
1,088
1,221
Loans and advances
46,100
43,143
Debt securities
2,818
2,749
Equity securities
2,336
2,856
Reverse repurchase agreements and other similar secured lending
132,600
141,791
Other financial assets
60
85
Financial assets mandatorily at fair value\u00a0
183,914
190,624
Total
185,002
191,845
Credit risk of financial assets designated at fair value and related credit derivatives
The following table shows the maximum exposure to credit risk, the changes in fair value attributable to changes in credit
risk, and the cumulative changes in fair value since initial recognition for loans and advances. The table does not include
debt securities as they have minimal exposure to credit risk due to limited gross exposure.
Barclays Bank Group
Maximum exposure as at 31
December
Changes in fair value during
the year ended
Cumulative changes in fair
value from inception
2025
2024
2025
2024
2025
2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Loans and advances designated at fair value,
attributable to credit risk
785
1,039
2
(2)
(2)
(4)
Value mitigated by related credit derivatives
193
405
(2)
\u2014
(2)
\u2014
Derivative financial instruments
Accounting for derivatives
Derivative instruments are contracts whose value is derived from one or more underlying financial instruments or indices
defined in the contract. They include swaps, forward-rate agreements, futures, options and combinations of these
instruments and primarily affect the Barclays Bank Group\u2019s net interest income, net trading income and derivative assets and
liabilities. Notional amounts of the contracts are not recorded on the balance sheet. Derivatives are used to hedge interest
rate, credit risk, inflation risk, exchange rate, commodity, equity exposures and exposures to certain indices such as house
price indices and retail price indices related to non-trading positions.
All derivative instruments are held at fair value through profit or loss, except for derivatives that are in a designated cash
flow or net investment hedge accounting relationship. Derivatives are classified as assets when their fair value is positive or
as liabilities when their fair value is negative.
Hedge accounting
The Barclays Bank Group applies the requirements of IAS 39 Financial Instruments: Recognition and Measurement for hedge
accounting purposes. The Barclays Bank Group applies hedge accounting to represent the economic effects of its interest
rate, currency and contractually linked inflation risk management strategies. Where derivatives are held for risk management
purposes, and when transactions meet the required criteria for documentation and hedge effectiveness, the Barclays Bank
Group applies fair value hedge accounting, cash flow hedge accounting, or hedging of a net investment in a foreign
operation, as appropriate to the risks being hedged.
Fair value hedge accounting
Changes in fair value of derivatives that qualify and are designated as fair value hedges are recorded in the income
statement, together with changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The
fair value changes adjust the carrying value of the hedged asset or liability held at amortised cost.For hedged items classified
as fair value through other comprehensive income, fair value movements attributable to the hedged risk are transferred from
other comprehensive income to the income statement.
If hedge relationships no longer meet the criteria for hedge accounting, hedge accounting is discontinued. For fair value
hedges of interest rate risk, the fair value adjustment to the hedged item is amortised to the income statement over the
period to maturity of the previously designated hedge relationship using the effective interest method. If the hedged item is
sold or repaid, the unamortised fair value adjustment is recognised immediately in the income statement.
Cash flow hedge accounting
For qualifying cash flow hedges, the fair value gain or loss associated with the effective portion of the cash flow hedge is
recognised initially in other comprehensive income, and then recycled to the income statement in the periods when the
hedged item will affect profit or loss. Any ineffective portion of the gain or loss on the hedging instrument is recognised in
the income statement immediately.
When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any
cumulative gain or loss existing in equity at that time remains in equity and is recognised when the hedged item is ultimately
recognised in the income statement. When a forecast transaction is no longer expected to occur, the cumulative gain or loss
that was recognised in equity is immediately transferred to the income statement.
Hedges of net investments
The Barclays Bank Group\u2019s net investments in foreign operations, including monetary items accounted for as part of the net
investment, are hedged for foreign currency risks using both derivatives and foreign currency borrowings. Hedges of net
investments are accounted for similarly to cash flow hedges; the effective portion of the gain or loss on the hedging
instrument is being recognised directly in other comprehensive income and the ineffective portion being recognised
immediately in the income statement. The cumulative gain or loss recognised in other comprehensive income is recognised
in the income statement on the disposal or partial disposal of the foreign operation, or other reductions in the Barclays Bank
Group\u2019s investment in the operation.
Barclays Bank Group
2025
2024
Notional
contract
amount
Fair value
Notional
contract
amount
Fair value
Assets
Liabilities
Assets
Liabilities
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Total derivative assets/(liabilities) held for trading
99,839,732
250,285
(240,158)
83,571,610
291,562
(278,636)
Total derivative assets/(liabilities) held for risk management
239,559
1,907
(599)
221,158
794
(695)
Derivative assets/(liabilities)
100,079,291
252,192
(240,757)
83,792,768
292,356
(279,331)
The fair values and notional amounts of derivatives held for trading are set out in the following table:
Derivatives held for trading and risk management
2025
2024
Barclays Bank Group
Notional
contract
amount
Fair value
Notional
contract
amount
Fair value
Assets
Liabilities
Assets
Liabilities
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Derivatives held for trading
Foreign exchange derivatives
OTC derivatives
8,229,535
73,979
(71,525)
8,242,887
123,379
(116,485)
Derivatives cleared by central counterparty
276,189
251
(221)
240,612
228
(235)
Exchange traded derivatives
20,733
1
(1)
27,441
7
(7)
Foreign exchange derivatives
8,526,457
74,231
(71,747)
8,510,940
123,614
(116,727)
Interest rate derivatives
OTC derivatives
32,272,598
90,814
(77,199)
26,437,086
92,206
(79,936)
Derivatives cleared by central counterparty
42,100,741
1,409
(1,124)
36,249,392
1,443
(1,319)
Exchange traded derivatives
11,473,470
1,498
(1,457)
7,672,496
2,664
(2,698)
Interest rate derivatives
85,846,809
93,721
(79,780)
70,358,974
96,313
(83,953)
Credit derivatives
OTC derivatives
671,066
4,169
(4,666)
593,702
3,474
(4,307)
Derivatives cleared by central counterparty
1,065,702
3,682
(3,713)
943,413
3,424
(3,148)
Credit derivatives
1,736,768
7,851
(8,379)
1,537,115
6,898
(7,455)
Equity and stock index derivatives
OTC derivatives
739,153
22,180
(27,092)
598,024
21,964
(26,318)
Exchange traded derivatives
2,769,230
50,161
(51,063)
2,347,247
40,947
(42,309)
Equity and stock index derivatives
3,508,383
72,341
(78,155)
2,945,271
62,911
(68,627)
Commodity derivatives
OTC derivatives
4,681
15
(16)
7,084
17
(32)
Exchange traded derivatives
216,634
2,126
(2,081)
212,226
1,809
(1,842)
Commodity derivatives
221,315
2,141
(2,097)
219,310
1,826
(1,874)
Derivative assets/(liabilities) held for trading
99,839,732
250,285
(240,158)
83,571,610
291,562
(278,636)
Total OTC derivatives
41,917,033
191,157
(180,498)
35,878,783
241,040
(227,078)
Total derivatives cleared by central counterparty
43,442,632
5,342
(5,058)
37,433,417
5,095
(4,702)
Total exchange traded derivatives
14,480,067
53,786
(54,602)
10,259,410
45,427
(46,856)
Derivative assets/(liabilities) held for trading
99,839,732
250,285
(240,158)
83,571,610
291,562
(278,636)
Derivatives held for risk management
Derivatives designated as cash flow hedges
Currency Swaps
26,048
1,677
(39)
26,564
611
(307)
Interest rate derivatives cleared by central counterparty
101,099
\u2014
\u2014
86,759
\u2014
\u2014
Derivatives designated as cash flow hedges
127,147
1,677
(39)
113,323
611
(307)
Derivatives designated as fair value hedges
Interest rate swaps
4,900
75
(517)
7,234
147
(322)
Interest rate derivatives cleared by central counterparty
103,193
\u2014
\u2014
96,588
\u2014
\u2014
Derivatives designated as fair value hedges
108,093
75
(517)
103,822
147
(322)
Derivatives designated as hedges of net investments
Forward foreign exchange
4,319
155
(43)
4,013
36
(66)
Derivatives designated as hedges of net investments
4,319
155
(43)
4,013
36
(66)
Derivative assets/(liabilities) held for risk management
239,559
1,907
(599)
221,158
794
(695)
Total OTC derivatives
35,267
1,907
(599)
37,811
794
(695)
Total derivatives cleared by central counterparty
204,292
\u2014
\u2014
183,347
\u2014
\u2014
Derivative assets/(liabilities) held for risk management
239,559
1,907
(599)
221,158
794
(695)
Hedge accounting
Hedge accounting is applied predominantly for the following risks:
\u25aa Interest rate risk \u2013 arises due to a mismatch between fixed interest rates and floating interest rates
\u25aa Currency risk \u2013 arises due to assets or liabilities being denominated in different currencies than the functional currency of
the relevant entity. At a consolidated level, currency risk also arises when the functional currency of subsidiaries are
different from the parent
\u25aa Contractually linked inflation risk \u2013 arises from financial instruments within contractually specified inflation risk. The
Barclays Bank Group does not hedge inflation risk that arises from other activities
In order to hedge these risks, the Barclays Bank Group uses the following hedging instruments:
\u25aa Interest rate derivatives to swap interest rate exposure into either fixed or variable rates
\u25aa Currency derivatives to swap foreign currency exposures into the entity\u2019s functional currency, and net investment
exposure to local currency
\u25aa Inflation derivatives to swap inflation exposure into either fixed or variable interest rates
In some cases, certain items which are economically hedged may be ineligible hedged items for the purposes of IAS 39, such
as core deposits and equity. In these instances, a proxy hedging solution can be utilised whereby portfolios of floating rate
assets are designated as eligible hedged items in cash flow hedges.
In some hedging relationships, the Barclays Bank Group designates risk components of hedged items as follows:
\u25aa Benchmark interest rate risk as a component of interest rate risk, such as the Risk Free Rate (RFR) component
\u25aa Inflation risk as a contractually specified component of a debt instrument
\u25aa Exchange rate risk for foreign currency financial assets or financial liabilities
\u25aa Components of cash flows of hedged items, for example certain interest payments for part of the life of an instrument
Using the benchmark interest rate risk results in other risks, such as credit risk and liquidity risk, being excluded from the
hedge accounting relationship.
In respect of many of the Barclays Bank Group\u2019s hedge accounting relationships, the hedged item and hedging instrument
change frequently due to the dynamic nature of the risk management and hedge accounting strategy. The Barclays Bank
Group applies hedge accounting to dynamic scenarios, predominantly in relation to interest rate risk, with a combination of
hedged items in order for its financial statements to reflect as closely as possible the economic risk management
undertaken. In some cases, if the hedge accounting objective changes, the relevant hedge accounting relationship is de-
designated and is replaced with a different hedge accounting relationship.
Changes in the GBP value of net investments due to foreign currency movements are captured in the currency translation
reserve, resulting in a movement in CET 1 capital.\u00a0The Barclays Bank Group mitigates this by matching the CET1 capital
movements to the revaluation of the foreign currency RWA exposures.\u00a0Net investment hedges are designated where
necessary to reduce the exposure to movement in a particular exchange rate to within limits mandated by Risk.\u00a0As far as
possible, existing external currency liabilities are designated as the hedging instruments.
The hedging instruments share the same risk exposures as the hedged items. Hedge effectiveness is determined with
reference to quantitative tests, predominantly regression testing, but to the extent hedging instruments are exposed to
different risks than the hedged items, this could result in hedge ineffectiveness or hedge accounting failures.
Sources of ineffectiveness include the following:
\u25aa Mismatches between the contractual terms of the hedged item and hedging instrument, including basis differences
\u25aa Changes in credit risk of the hedging instruments
\u25aa If a hedging relationship becomes over-hedged, for example in hedges of net investments if the net asset value designated
at the start of the period falls below the amount of the hedging instrument
\u25aa Cash flow hedges using external swaps with non-zero fair values
Hedged items in fair value hedges
Barclays Bank Group
Accumulated fair value
adjustment included in carrying
amount
Carrying
amount
Total
Of which:
Accumulated
fair value
adjustment on
items no longer
in a hedge
relationship
Change in fair
value used as a
basis to
determine
ineffectiveness
Hedge
ineffectiveness
recognised in
the income
statement1
Hedged item statement of financial position
classification and risk category
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
2025
Assets
Loans and advances at amortised cost
- Interest rate risk
698
(155)
1
4
(1)
- Inflation risk
280
188
79
(9)
\u2014
Debt securities classified as amortised cost
- Interest rate risk
11,388
27
(1)
100
32
- Inflation risk
8,127
(1,332)
1
(9)
16
Financial assets at fair value through other
comprehensive income2
- Interest rate risk
27,807
(1,378)
(429)
(163)
127
- Inflation risk
1,324
(62)
(20)
(5)
(13)
Total Assets
49,624
(2,712)
(369)
(82)
161
Liabilities
Debt securities in issue
- Interest rate risk
(1,333)
1
(31)
5
1
Subordinated liabilities
- Interest rate risk
(38,611)
1,576
1,006
(514)
(22)
Deposits at amortised cost from banks and
customers
- Interest rate risk
(12,916)
(14)
(1)
(2)
3
Total Liabilities
(52,860)
1,563
974
(511)
(18)
Total Hedged Items
(3,236)
(1,149)
605
(593)
143
Hedged items in fair value hedges
Barclays Bank Group
Accumulated fair value
adjustment included in carrying
amount
Carrying
amount
Total
Of which:
Accumulated
fair value
adjustment on
items no longer
in a hedge
relationship
Change in fair
value used as a
basis to
determine
ineffectiveness
Hedge
ineffectiveness
recognised in
the income
statement1
Hedged item statement of financial position
classification and risk category
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
2024
Assets
Loans and advances at amortised cost
- Interest rate risk
711
(160)
(1)
(18)
4
- Inflation risk
318
219
102
(18)
7
Debt securities classified as amortised cost
- Interest rate risk
7,673
(44)
8
50
66
- Inflation risk
8,348
(1,342)
2
(598)
(29)
Financial assets at fair value through other
comprehensive income2
- Interest rate risk
29,514
(1,162)
(452)
(132)
176
- Inflation risk
2,979
(96)
(31)
(59)
(22)
Total Assets
49,543
(2,585)
(372)
(775)
202
Liabilities
Debt securities in issue
- Interest rate risk
(1,417)
8
(24)
(18)
2
Subordinated liabilities
- Interest rate risk
(37,531)
2,257
1,182
398
(8)
Deposits at amortised cost from banks and
customers
- Interest rate risk
(8,596)
(12)
(1)
(4)
(2)
Total Liabilities
(47,544)
2,253
1,157
376
(8)
Total Hedged Items
1,999
(332)
785
(399)
194
Notes
1Hedge ineffectiveness is recognised in net interest income.
2For items classified as fair value through other comprehensive income, the hedge accounting adjustment is not included in the carrying amount,
but rather adjusts other comprehensive income.
Amount, timing and uncertainty of future cash flows
The following table shows the fair value hedging instruments which are carried on the balance sheet:
Barclays Bank Group
Carrying value
Nominal
amount
Change in fair value
used as a basis to
determine
ineffectiveness
Derivative
assets
Derivative
liabilities
Loan liabilities
Hedge type
Risk category
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Fair value
Interest rate risk
2
(3)
\u2014
95,612
710
Inflation risk
73
(514)
\u2014
12,481
26
Total
75
(517)
\u2014
108,093
736
As at 31 December 2024
Fair value
Interest rate risk
26
(16)
\u2014
89,602
(38)
Inflation risk
121
(306)
\u2014
14,220
631
Total
147
(322)
\u2014
103,822
593
The following table profiles the expected notional values of current hedging instruments for fair value hedging in future
years:
2025
2026
2027
2028
2029
2030
2031 and
later
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Bank Group
Fair value hedges of:
Interest rate risk (outstanding notional amount)
95,612
76,744
65,798
61,019
53,609
40,763
32,092
Inflation risk (outstanding notional amount)
12,481
11,728
10,965
9,494
8,850
7,821
7,076
For Barclays Bank Group, there are 1,023 (2024: 946) interest rate risk fair value hedges with an average fixed rate of 2.7%
(2024: 2.6%) across the relationships and 87 (2024 : 105) inflation risk fair value hedges with an average rate of 0.3% (2024:
0.2%) across the relationships.
Hedged items in cash flow hedges and hedges of net investments in foreign operations
Barclays Bank Group
Change in
value of
hedged item
used as the
basis for
recognising
ineffectiveness
Balance in
cash flow
hedging
reserve for
continuing
hedges
Balance in
currency
translation
reserve for
continuing
hedges
Balances
remaining
in cash
flow
hedging
reserve for
which
hedge
accounting
is no
longer
applied
Balances
remaining
in currency
translation
reserve for
which
hedge
accounting
is no
longer
applied
Hedging gains
or losses
recognised in
other
comprehensive
income
Hedge
ineffectiveness
recognised in
the income
statement1
Description of hedge relationship
and hedged risk
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
2025
Assets
Cash flow hedge of:
Interest rate risk
Loans and advances at amortised
cost
(336)
(92)
\u2014
918
\u2014
(336)
6
Cash and balances at Central Banks
(553)
(149)
\u2014
604
\u2014
(553)
(19)
Foreign exchange risk
Loans and advances at amortised
cost
(1,637)
120
\u2014
\u2014
\u2014
(1,637)
17
Inflation risk
Debt securities classified at
amortised cost
(113)
(143)
\u2014
(21)
\u2014
(113)
8
Liabilities
Cash flow hedge of:
Foreign exchange risk
Subordinated Liabilities
9
16
\u2014
\u2014
\u2014
9
\u2014
Total cash flow hedges
(2,630)
(248)
\u2014
1,501
\u2014
(2,630)
12
Hedge of net investment in foreign
operations
USD foreign operations
(484)
\u2014
1,151
\u2014
\u2014
(484)
\u2014
EUR foreign operations
146
\u2014
100
\u2014
\u2014
146
\u2014
Other foreign operations
(161)
\u2014
(103)
\u2014
60
(161)
\u2014
Total foreign operations
(499)
\u2014
1,148
\u2014
60
(499)
\u2014
2024
Assets
Cash flow hedge of:
Interest rate risk
Loans and advances at amortised
cost
438
182
\u2014
1,552
\u2014
438
(8)
Cash and balances at Central Banks
495
123
\u2014
1,495
\u2014
495
22
Foreign exchange risk
Loans and advances at amortised
cost
300
106
\u2014
\u2014
\u2014
300
5
Inflation risk
Debt securities classified at
amortised cost
118
(73)
\u2014
25
\u2014
118
\u2014
Liabilities
Cash flow hedge of:
Foreign exchange risk
Subordinated Liabilities
18
(9)
\u2014
\u2014
\u2014
18
\u2014
Total cash flow hedges
1,369
329
\u2014
3,072
\u2014
1,369
19
Hedge of net investment in foreign
operations
USD foreign operations
136
\u2014
1,449
\u2014
\u2014
136
\u2014
EUR foreign operations
(109)
\u2014
(26)
\u2014
\u2014
(109)
\u2014
Other foreign operations
(17)
\u2014
34
\u2014
96
(17)
\u2014
Total foreign operations
10
\u2014
1,457
\u2014
96
10
\u2014
Note
1Hedge ineffectiveness is recognised in net interest income.
The following table shows the cash flow and net investment hedging instruments which are carried on the balance sheet:
Barclays Bank Group
Carrying value
Nominal
amount
Change in fair value
used as a basis to
determine
ineffectiveness
Derivative
assets
Derivative
liabilities
Loan liabilities
Hedge type
Risk category
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Cash flow
Interest rate risk
\u2014
\u2014
\u2014
94,727
876
Foreign exchange risk
1,677
(39)
\u2014
26,048
1,645
Inflation risk
\u2014
\u2014
\u2014
6,372
121
Total
1,677
(39)
\u2014
127,147
2,642
Net investment
Foreign exchange risk
155
(43)
(6,109)
10,428
499
As at 31 December 2024
Cash flow
Interest rate risk
\u2014
\u2014
\u2014
80,382
(919)
Foreign exchange risk
611
(307)
\u2014
26,564
(313)
Inflation risk
\u2014
\u2014
\u2014
6,377
(118)
Total
611
(307)
\u2014
113,323
(1,350)
Net investment
Foreign exchange risk
36
(66)
(7,588)
11,601
(10)
For Barclays Bank Group and Barclays Bank PLC there is 1 (2024: 2) foreign exchange risk cash flow hedge\u00a0 with an average
foreign exchange rate of JPY 162.56: GBP 1 ( 2024: JPY 149.87: GBP 1), 11 ( 2024: 11) with an average foreign exchange rate
of USD 1.26: GBP 1 (2024: 1.27) and 12 (2024: 9) with an average foreign exchange rate of AUD 1.98: GBP 1 (2024: 1.94).
The effect on the income statement and other comprehensive income of recycling amounts in respect of cash flow hedges
and net investment hedges of foreign operations is set out in the following table:
Barclays Bank Group
2025
2024
Amount recycled
from other
comprehensive
income due to
hedged item
affecting income
statement
Amount recycled
from other
comprehensive
income due to sale
of investment, or
cash flows no
longer expected to
occur
Amount recycled
from other
comprehensive
income due to
hedged item
affecting income
statement
Amount recycled
from other
comprehensive
income due to sale
of investment, or
cash flows no
longer expected to
occur
Description of hedge relationship and hedged risk
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Cash flow hedge of interest rate risk
Recycled to net interest income
(1,162)
(1)
(1,697)
(2)
Cash flow hedge of foreign exchange risk
Recycled to net trading income
1,669
\u2014
(251)
\u2014
Hedge of net investment in foreign operations
Recycled to other income
\u2014
(34)
\u2014
(1)
A detailed reconciliation of the movements of the cash flow hedging reserve and the currency translation reserve is as
follows:
Barclays Bank Group
2025
2024
Cash flow
hedging reserve
Currency
translation
reserve
Cash flow
hedging reserve
Currency
translation
reserve
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Balance on 1 January
(2,448)
3,690
(2,895)
3,783
Currency translation movements
24
(1,640)
20
(194)
Hedging (losses)/gains for the year
2,630
499
(1,369)
50
Amounts reclassified in relation to cash flows affecting profit or loss
(506)
34
1,950
1
Tax
(607)
(49)
(154)
50
Balance on 31 December
(907)
2,534
(2,448)
3,690
Financial assets at fair value through other comprehensive income
Accounting for financial assets at fair value through other comprehensive income (FVOCI)
Financial assets that are debt instruments held in a business model that is achieved by both collecting contractual cash
flows and selling and that contain contractual terms that give rise on specified dates to cash flows that are SPPI are
measured at FVOCI. They are subsequently re-measured at fair value and changes therein (except for those relating to
impairment, interest income and foreign currency exchange gains and losses) are recognised in other comprehensive
income until the assets are sold. Interest (calculated using the effective interest method) is recognised in the income
statement in net interest income (Note 3). Upon disposal, the cumulative gain or loss in other comprehensive income is
included in net investment income (Note 6).
In determining whether the business model is achieved by both collecting contractual cash flows and selling financial
assets, it is determined that both collecting contractual cash flows and selling financial assets are integral to achieving the
objective of the business model. The Barclays Bank Group will consider past sales and expectations about future sales to
establish if the business model is achieved.
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Debt securities and other eligible bills
40,451
47,727
Loans and advances
2,367
3,283
Financial assets at fair value through other comprehensive income
42,818
51,010
Financial liabilities designated at fair value
Accounting for liabilities designated at fair value through profit and loss
The Barclays Bank Group has the ability to make the fair value designation when holding the instruments at fair value
reduces an accounting mismatch (caused by an offsetting liability or asset being held at fair value), or is managed by the
Barclays Bank Group on the basis of its fair value, or includes terms that have substantive derivative characteristics (Note
13). In accordance with IFRS 9, financial liabilities may be designated at fair value, with gains and losses taken to the
income statement within net trading income (Note 5) and net investment income (Note 6). Movements in own credit are
reported through other comprehensive income, unless the effects of changes in the liability's credit risk would create or
enlarge an accounting mismatch in profit and loss. In these scenarios, all gains and losses on that liability (including the
effects of changes in the credit risk of the liability) are presented in profit and loss. On derecognition of the financial liability
no amounts relating to own credit risk are recycled to the income statement. The details on how the fair value amounts are
arrived at for financial liabilities designated at fair value are described in Note 16.
Barclays Bank Group
2025
2024
Fair value
Contractual
amount due
on maturity
Fair value
Contractual
amount due
on maturity
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Debt securities
85,086
99,105
76,833
92,479
Deposits
48,997
51,262
46,383
48,201
Repurchase agreements and other similar secured borrowing
158,857
159,276
156,024
156,600
Subordinated debt
587
967
537
957
Financial liabilities designated at fair value
293,527
310,610
279,777
298,237
The cumulative own credit net loss recognised for Barclays Bank Group is \u00a3 1,335m ( 2024: \u00a31,434m loss) and for Barclays
Bank PLC it is \u00a31,263m (2024 : \u00a31,369 m loss) Fair value of financial instruments
Accounting for financial assets and liabilities \u2013 fair value
Financial instruments that are held for trading are recognised at fair value through profit or loss. In addition, financial assets
are held at fair value through profit or loss if they do not contain contractual terms that give rise on specified dates to cash
flows that are SPPI, or if the financial asset is not held in a business model that is either (i) a business model to collect the
contractual cash flows or (ii) a business model that is achieved by both collecting contractual cash flows and selling.
Subsequent changes in fair value for these instruments are recognised in the income statement in net investment income,
except if reporting it in trading income reduces an accounting mismatch.
Wherever possible, fair value is determined by reference to a quoted market price for that instrument. For many of the
Barclays Bank Group\u2019s financial assets and liabilities, including derivatives, quoted prices are not available and valuation
models are used to estimate fair value. The models calculate the expected cash flows under the terms of each specific
contract and then discount these values back to a present value. These models use as their basis independently sourced
market inputs including, for example, interest rate yield curves, equities and commodities prices, option volatilities and
currency rates.
For financial liabilities measured at fair value, the carrying amount also reflects the effect on fair value of changes in own
credit spreads derived from observable market data such as in primary issuance and redemption activity for structured
notes.
The Barclays Bank Group uses the portfolio exemption in IFRS 13 Fair Value Measurement to measure the fair value of
groups of financial assets and liabilities. Financial instruments are measured using the price that would be received to sell a
net long position (i.e. an asset) for a particular risk exposure or to transfer a net short position (i.e. a liability) for a particular
risk exposure in an orderly transaction between market participants at the balance sheet date under current market
conditions. Accordingly, Barclays Bank Group measures the fair value of the group of financial assets and liabilities
consistently with how market participants would price the net risk exposure at the measurement date.
On initial recognition, the transaction price often reflects the fair value of the asset or liability.\u00a0 However, in some
circumstances, fair value may differ to the transaction price when there is information to the contrary. If the fair value of the
instrument is observable from current market transactions in the same instrument, or based on a valuation technique whose
inputs only include observable inputs, then the instrument is initially recognised at fair value and the difference to the
transaction price is recognised in profit or loss.
For valuations that have made use of unobservable inputs, the difference between the model valuation and the initial
transaction price (day one profit) is recognised in profit or loss either: on a straight-line basis over the term of the
transaction; or over the period until all inputs will become observable where appropriate; or released in full when previously
unobservable inputs become observable.
Various factors influence the availability of observable inputs, and these may vary from product to product and change over
time. Factors include the depth of activity in the relevant market, the type of product, whether the product is new and not
widely traded in the marketplace, the maturity of market modelling and the nature of the transaction (bespoke or generic).
To the extent that valuation is based on models or inputs that are not observable in the market, the determination of fair
value can be more subjective, dependent on the significance of the unobservable input to the overall valuation.
Unobservable inputs are determined based on the best information available, for example by reference to similar assets,
similar maturities, or other analytical techniques.
The sensitivity of valuations used in the financial statements to possible changes in significant unobservable inputs is shown
on page 346.
Valuation Control Framework
The Barclays Group has an established valuation control framework that oversees valuation methodologies, standards and
procedures.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Classification of financial instruments with significant unobservable
inputs as Level 3.
Valuation of Level 3 assets and liabilities are typically determined by
referencing observable inputs, historical data, or employing other
analytical techniques.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
financial assets and financial liabilities measured at fair value within the next financial year.
The valuation of financial instruments often involves a significant degree of judgement and complexity, in particular where
valuation models make use of unobservable inputs (\u2018Level 3\u2019 assets and liabilities). This note provides information on these
instruments, including the related unrealised gains and losses recognised in the period, a description of significant valuation
techniques and unobservable inputs, and a sensitivity analysis.
For assets and liabilities traded in active markets, it is determined that the market valuation includes a representation of the
prevailing view of climate-related risks. Within less active markets, for counterparties and instruments identified as being
more susceptible to climate change risk, an impact assessment was performed through increasing their probability of
default. The change in valuation of the assets and liabilities from this assessment was sufficiently immaterial to necessitate
any amendment to the reported 2025 year-end valuations.
Valuation
Assets and liabilities are classified according to a hierarchy that reflects the observability of significant market inputs. The
three levels of the fair value hierarchy are defined below with judgement applied in determining the boundary between Level
2 and 3 classifications.
Valuation techniques using quoted market prices \u2013 Level 1
Assets and liabilities are classified as Level 1 if their value is observable in an active market. Such instruments are valued by
reference to unadjusted quoted prices for identical assets or liabilities in active markets where the quoted price is readily
available, and the price represents actual and regularly occurring market transactions. An active market is one in which
transactions occur with sufficient volume and frequency to provide pricing information on an ongoing basis.
Valuation techniques using observable inputs \u2013 Level 2
Assets and liabilities classified as Level 2 have been valued using models whose inputs are observable either directly or
indirectly. A valuation input is considered observable if it can be directly observed from transactions in an active market, or if
there is compelling external evidence demonstrating an executable exit price. Valuations based on observable inputs include
assets and liabilities such as swaps and forwards which are valued using market standard pricing techniques, and options
that are commonly traded in markets where all the inputs to the market standard pricing models are observable. For certain
instruments that derive a fair value using unobservable inputs that are not considered significant, then the asset or liability
may be classified as Level 2.
Valuation techniques using significant unobservable inputs \u2013 Level 3
Assets and liabilities are classified as Level 3 if their valuation incorporates significant inputs that are not based on
observable market data (unobservable inputs). Unobservable input levels are generally determined via reference to
observable inputs, historical observations or using other analytical techniques.
The following table shows assets and liabilities that are held at fair value disaggregated by the fair value hierarchy and
balance sheet classification:
Assets and liabilities held at fair value
2025
2024
Valuation techniques used
Valuation techniques used
Quoted
market
price
Observable
inputs
Significant
unobservable
inputs
Quoted
market
price
Observable
inputs
Significant
unobservable
inputs
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio assets
110,773
68,623
10,347
189,743
77,581
78,548
10,115
166,244
Financial assets at fair value through the
income statement
5,015
173,801
6,186
185,002
3,463
182,391
5,991
191,845
Derivative financial assets
108
250,374
1,710
252,192
101
290,182
2,073
292,356
Financial assets at fair value through other
comprehensive income
31,640
8,110
3,068
42,818
19,021
28,315
3,674
51,010
Investment property
\u2014
\u2014
43
43
\u2014
\u2014
9
9
Total assets
147,536
500,908
21,354
669,798
100,166
579,436
21,862
701,464
Trading portfolio liabilities
(42,009)
(14,733)
(87)
(56,829)
(27,033)
(28,754)
(395)
(56,182)
Financial liabilities designated at fair value
(1,702)
(286,972)
(4,853)
(293,527)
(181)
(276,355)
(3,241)
(279,777)
Derivative financial liabilities
(93)
(237,599)
(3,065)
(240,757)
(86)
(276,064)
(3,181)
(279,331)
Total liabilities
(43,804)
(539,304)
(8,005)
(591,113)
(27,300)
(581,173)
(6,817)
(615,290)
The following table shows Barclays Bank Group\u2019s Level 3 assets and liabilities that are held at fair value disaggregated by product
type. Product type is broadly similar for Barclays Bank PLC.
As at 31 December
2025
Loans
Corporate
debt
Asset
backed
securities
Government
and
Government
sponsored
debt
Private
equity
invest-
ments
Issued
debt
Reverse
repurchase
and
repurchase
agreements
Interest
rate
derivatives
Equity
derivatives
Other
products 1
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio
assets
5,667
1,849
874
1,513
\u2014
\u2014
\u2014
\u2014
\u2014
444
10,347
Financial assets at fair
value through the
income statement
4,620
905
188
33
268
\u2014
97
\u2014
\u2014
75
6,186
Derivative financial
assets
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
759
520
431
1,710
Financial assets at fair
value through other
comprehensive
income
2,235
25
756
52
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
3,068
Investment property
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
43
43
Total assets
12,522
2,779
1,818
1,598
268
\u2014
97
759
520
993
21,354
Trading portfolio
liabilities
\u2014
(36)
\u2014
(34)
\u2014
\u2014
\u2014
\u2014
\u2014
(17)
(87)
Financial liabilities
designated at fair
value
\u2014
\u2014
\u2014
\u2014
\u2014
(3,760)
(887)
\u2014
\u2014
(206)
(4,853)
Derivative financial
liabilities
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
(612)
(1,602)
(851)
(3,065)
Total liabilities
\u2014
(36)
\u2014
(34)
\u2014
(3,760)
(887)
(612)
(1,602)
(1,074)
(8,005)
As at 31 December
2024
Loans
Corporate
debt
Asset
backed
securities
Government
and
Government
sponsored
debt
Private
equity
invest-
ments
Issued
debt
Reverse
repurchase
and
repurchase
agreements
Interest
rate
derivatives
Equity
derivatives
Other
products 1
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio
assets
6,146
1,590
991
1,018
\u2014
\u2014
\u2014
\u2014
\u2014
370
10,115
Financial assets at fair
value through the
income statement
3,991
913
139
35
219
\u2014
539
\u2014
\u2014
155
5,991
Derivative financial
assets
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1,193
477
403
2,073
Financial assets at fair
value through other
comprehensive
income
2,858
47
757
12
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
3,674
Investment property
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9
9
Total assets
12,995
2,550
1,887
1,065
219
\u2014
539
1,193
477
937
21,862
Trading portfolio
liabilities
\u2014
(374)
(6)
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
(15)
(395)
Financial liabilities
designated at fair
value
\u2014
\u2014
\u2014
\u2014
\u2014
(1,842)
(1,379)
\u2014
\u2014
(20)
(3,241)
Derivative financial
liabilities
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
(1,013)
(1,219)
(949)
(3,181)
Total liabilities
\u2014
(374)
(6)
\u2014
\u2014
(1,842)
(1,379)
(1,013)
(1,219)
(984)
(6,817)
Note
1 Other products include certificate of deposits, funds and fund-linked products, equity cash products, investment property, credit derivatives and foreign
exchange derivatives.
Valuation techniques
The valuation techniques and observability used are described below.
Loans
Description: A drawn lending facility issued to corporate clients and customers.
Also includes Prime Brokerage Margin lending, and other similar secured lending agreements. The agreements are primarily short-
term in nature.
Valuation: Loans are valued either using a price-based approach, or through models that discount expected future cash flows based
on interest rates and loan spreads.
Prime Brokerage Margin Lending transactions are generally valued by discounting the expected future cash flows, using industry
standard models that incorporate market interest rates and repurchase rates, based on the specific details of the transaction.
Observability: Within this loan population, the price or loan spread may be generally unobservable.\u00a0
For Margin Lending inputs are deemed observable up to liquid maturities, and are determined based on the specific features of the
transaction. Unobservable inputs are generally set by referencing liquid market instruments and applying extrapolation techniques,
or inferred via another reasonable method.
Corporate debt
Description: Primarily corporate bonds.
Valuation: Corporate bonds are valued using observable market prices sourced from broker quotes, inter-dealer prices or other
reliable pricing sources.
Observability: Prices for actively traded bonds are considered observable. Unobservable bond prices are generally determined by
reference to bond yields or credit default swap (CDS) spreads for actively traded instruments issued by or referencing the same (or
a similar) issuer.
Asset backed securities
Description: Securities that are linked to the cash flows of a pool of referenced assets via securitisation. The category includes
residential mortgage backed securities, commercial mortgage backed securities, collateralised debt obligations (CDOs),
collateralised loan obligations (CLOs) and other asset backed securities.
Valuation: Where available, valuations are based on observable market prices sourced from broker quotes and inter-dealer prices
and external vendors who provide pricing. Otherwise, valuations are determined using industry standard discounted cash flow
analysis that calculates the fair value based on valuation inputs such as constant default rate, conditional prepayment rate, loss
given default and yield. These inputs are determined by reference to a number of sources including proxying to observed
transactions, market indices or market research, and by assessing underlying collateral performance.
Proxying to observed transactions, indices or research requires an assessment and comparison of the relevant securities\u2019 underlying
attributes including collateral, tranche, vintage, underlying asset composition (historical losses, borrower characteristics and loan
attributes such as loan to value ratio and geographic concentration) and credit ratings (original and current).
Observability: Where an asset backed product does not have an observable market price and the valuation is determined using a
discounted cash flow analysis, the instrument is considered unobservable.
Government and Government sponsored debt
Description: Government bonds, supra sovereign bonds and agency bonds.
Valuation: Liquid bonds that are actively traded through an exchange or clearing house are marked to the levels observed in these
markets. Other actively traded bonds are valued using observable market prices sourced from broker quotes, inter-dealer prices or
other reliable pricing sources.
Observability: Observability assessment is performed with reference to bond market trading data. Bonds are assessed at Level 1 if
they are traded in active market with a quoted price in line with requirements of IFRS 13. Unobservable bonds prices are generally
determined by reference to bond yields for actively traded bonds from the same (or a similar) issuer.
Private equity investments
Description: Includes investments in equity holdings in operating companies not quoted on a public exchange.
Valuation: Private equity investments are valued in accordance with the \u2018International Private Equity and Venture Capital Valuation
Guidelines\u2019 which require the use of a number of individual pricing benchmarks such as the prices of recent transactions in the
same or similar entities, discounted cash flow analysis and comparison with the earnings or revenue multiples of listed companies.
While the valuation of unquoted equity instruments is subjective by nature, the relevant methodologies are commonly applied by
other market participants and have been consistently applied over time.
Observability: Inputs are considered observable if there is active trading in a liquid market of products with significant sensitivity to
the inputs. Unobservable inputs include earnings or revenue estimates, multiples of comparative companies, marketability
discounts and discount rates.
Issued debt
Description: Debt notes issued by Barclays.
Valuation: Issued debt is valued using discounted cash flow techniques incorporating various inputs observed for each instrument.
Observability: Barclays issued notes are generally observable. Structured notes are debt instruments containing embedded
derivatives. Where either an input to the embedded derivative or the debt instrument is deemed unobservable and significant to the
overall valuation of the note, the structured note is classified as Level 3.
Reverse repurchase and repurchase agreements
Description: Includes securities purchased under resale agreements, securities sold under repurchase agreements, and other similar
secured lending agreements. The agreements are primarily short-term in nature.
Valuation: Repurchase and reverse repurchase agreements are generally valued by discounting the expected future cash flows
using industry standard models that incorporate market interest rates and repurchase rates, based on the specific details of the
transaction.
Observability: Inputs are deemed observable up to liquid maturities or for consensus pricing with low pricing-range and are
determined based on the specific features of the transaction. Unobservable inputs are generally set by referencing liquid market
instruments and applying extrapolation techniques or inferred via another reasonable method.
Interest rate derivatives
Description: Derivatives linked to interest rates or inflation indices. The category includes futures, interest rate and inflation swaps,
swaptions, caps, floors, inflation options and other exotic interest rate derivatives.
Valuation: Interest rate and inflation derivatives are generally valued using curves of forward rates constructed from market data to
project and discount the expected future cash flows of trades. Instruments with optionality are valued using volatilities implied from
market inputs and use industry standard or bespoke models depending on the product type.
Observability: In general, inputs are considered observable up to liquid maturities which are determined separately for each input
and underlying. Unobservable inputs are generally set by referencing liquid market instruments and applying extrapolation
techniques or inferred via another reasonable method.
Equity derivatives
Description: Exchange traded or OTC derivatives linked to equity indices and single names. The category includes vanilla and exotic
equity products.
Valuation: Equity derivatives are valued using industry standard models. Valuation inputs include stock prices, dividends, volatilities,
interest rates, equity repurchase curves and, for multi-asset products, correlations.
Observability: In general, valuation inputs are observable up to liquid maturities which are determined separately for each input and
underlying. Unobservable inputs are set by referencing liquid market instruments and applying extrapolation techniques or inferred
via another reasonable method.
Foreign exchange derivatives
Description: Derivatives linked to the foreign exchange (FX) market. The category includes FX forward contracts, FX swaps and FX
options. The majority are traded as over the counter (OTC) derivatives.
Valuation: FX derivatives are valued using industry standard and bespoke models depending on the product type. Valuation inputs
include FX rates, interest rates, FX volatilities, interest rate volatilities, FX interest rate correlations and others as appropriate.
Observability: FX correlations, forwards and volatilities are generally observable up to liquid maturities which are determined
separately for each input and underlying.
Unobservable inputs are set by referencing liquid market instruments and applying extrapolation techniques, or inferred via another
reasonable method.
Credit derivatives
Description: Derivatives linked to the credit spread of a referenced entity, index or basket of referenced entities or a pool of
referenced assets (e.g. a securitised product). The category includes single name and index credit default swaps (CDS) and total
return swaps (TRS).
Valuation: Credit derivatives are valued on industry standard models using curves of credit spreads as the principal input. Credit
spreads are observed directly from broker data, third party vendors or priced to proxies.
Observability: Credit derivative contracts referencing entities that are actively traded are generally considered observable. Other
valuation inputs are considered observable if products with significant sensitivity to the inputs are actively traded in a liquid market.
Unobservable valuation inputs are generally determined with reference to recent benchmark transactions or inferred from
observable trades of the same issuer or similar entities.
Assets and liabilities transferred between levels
During the year ended 31 December 2025, there were \u00a333.5bn assets and \u00a3(9.8)bn liabilities transferred from Level 2 to Level 1 for
the Barclays Bank Group (year ended 31 December 2024: there were no material transfers). Additionally, there were \u00a30.7bn assets
and \u00a3(2.8)bn liabilities transferred from Level 2 to Level 3 (year ended 31 December 2024: there were no material transfers). These
transfers reflect enhancement to the Bank\u2019s levelling policy, including the use of additional data in the active market assessment of
Level 1 government bonds and updated assessments of unobservable market parameters for government bonds and issued debt;
resulting in an increase in Level 3 balances.
For Barclays Bank PLC, the impact of enhancement were \u00a324.9bn assets and \u00a3(1.9)bn liabilities transferred from level 2 to level 1
and \u00a30.5bn assets and \u00a3(2.6)bn liabilities transferred from level 2 to level 3 (year ended 31 December 2024: there were no material
transfers).
Level 3 movement analysis
The following table summarises the movements in the Level 3 balances during the year. Transfers have been reflected as if they had
taken place at the beginning of the year.
Asset and liability transfers between Level 2 and Level 3 are primarily due to i) an increase or decrease in observable market activity
related to an input or ii) a change in the significance of the unobservable input, with assets and liabilities classified as Level 3 if an
unobservable input is deemed significant.
Analysis of movements in Level 3 assets and liabilities
As at 1
January
2025
Total gains and
(losses) in the
period recognised
in the income
statement
Total gains
and
(losses) in
the period
recognised
in OCI
Transfers
As at 31
Dec 2025
Purchases
Sales
Issues
Settlements
Trading
income 2
Other
income
In
Out
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio assets
10,115
5,810
(4,157)
\u2014
(1,554)
151
\u2014
\u2014
382
(400)
10,347
Financial assets at fair value
through the income statement
5,991
2,705
(1,156)
\u2014
(1,232)
14
(22)
\u2014
59
(173)
6,186
Financial assets at fair value
through other comprehensive
income
3,674
895
(591)
\u2014
(1,030)
4
(2)
\u2014
118
\u2014
3,068
Investment property
9
34
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
43
Trading portfolio liabilities
(395)
(55)
25
\u2014
352
2
\u2014
\u2014
(28)
12
(87)
Financial liabilities designated at
fair value
(3,241)
\u2014
29
(503)
1,020
43
\u2014
\u2014
(2,954)
753
(4,853)
Net derivative financial
instruments1
(1,108)
(447)
221
\u2014
\u2014
(44)
1
\u2014
3
19
(1,355)
Total
15,045
8,942
(5,629)
(503)
(2,444)
170
(23)
\u2014
(2,420)
211
13,349
Analysis of movements in Level 3 assets and liabilities
As at 1
January
2024
Total gains and
(losses) in the
period recognised
in the income
statement
Total gains
and
(losses) in
the period
recognised
in OCI
Transfers
As at 31 Dec
2024
Purchases
Sales
Issues
Settlements
Trading
income 2
Other
income
In
Out
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio assets
6,509
5,848
(1,817)
\u2014
(865)
(9)
\u2014
\u2014
775
(326)
10,115
Financial assets at fair value
through the income statement
5,368
2,540
(1,524)
\u2014
(582)
\u2014
56
\u2014
206
(73)
5,991
Financial assets at fair value
through other comprehensive
income
776
3,116
(43)
\u2014
\u2014
3
22
\u2014
\u2014
(200)
3,674
Investment property
2
9
(2)
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9
Trading portfolio liabilities
(368)
(26)
20
\u2014
\u2014
(7)
\u2014
\u2014
(15)
1
(395)
Financial liabilities designated at
fair value
(1,212)
(409)
\u2014
(1,147)
143
(74)
\u2014
\u2014
(892)
350
(3,241)
Net derivative financial
instruments1
(1,113)
(571)
(7)
\u2014
(15)
(66)
\u2014
\u2014
163
501
(1,108)
Total
9,962
10,507
(3,373)
(1,147)
(1,319)
(153)
78
\u2014
237
253
15,045
Notes
1 The derivative financial instruments are represented on a net basis. On a gross basis, derivative financial assets are \u00a31,710m (2024: \u00a32,073m) and derivative
financial liabilities are \u00a3(3,065)m (2024: \u00a3(3,181)m).
2 Trading income represents gains and losses on Level 3 financial instruments which in the majority are offset by losses and gains on financial instruments
disclosed in Level 2.
Unrealised gains and losses on Level 3 assets and liabilities
The following tables disclose the unrealised gains and losses recognised in the year arising on Level 3 assets and liabilities
held at year end.
Unrealised gains and (losses) recognised during the period on Level 3 assets and liabilities held at year end
2025
2024
Income statement
Other
compre-
hensive
income
Income statement
Other
compre-
hensive
income
Trading
income 1
Other
income
Total
Trading
income 1
Other
income
Total
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio assets
36
\u2014
\u2014
36
(9)
\u2014
\u2014
(9)
Financial assets at fair value through the income
statement
13
(23)
\u2014
(10)
\u2014
55
\u2014
55
Financial assets at fair value through other
comprehensive income
4
(1)
\u2014
3
3
22
\u2014
25
Investment property
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Trading portfolio liabilities
1
\u2014
\u2014
1
(7)
\u2014
\u2014
(7)
Financial liabilities designated at fair value
43
\u2014
\u2014
43
(77)
\u2014
\u2014
(77)
Net derivative financial instruments
(44)
1
\u2014
(43)
(58)
\u2014
\u2014
(58)
Total
53
(23)
\u2014
30
(148)
77
\u2014
(71)
Note
1 Trading income represents gains and losses on Level 3 financial instruments which in the majority are offset by losses and gains on financial
instruments disclosed in Level 2.
Significant unobservable inputs
The following table discloses the valuation techniques and significant unobservable inputs for material products recognised
at fair value and classified as Level 3 along with the range of values used for those significant unobservable inputs:
Valuation technique(s) 1
Significant unobservable
inputs
2025
2024
Range
Range
Min
Max
Min
Max
Units 2
Derivative financial
instruments 3
Interest rate derivatives
Discounted cash flows
Inflation forwards
n/m4
n/m4
3
3
%
Credit spread
8
2,070
14
1,972
bps
Yield
\u2014
5
\u2014
12
%
Option model
Interest rate volatility
29
152
19
175
bps vol
FX - IR correlation
(36)
30
(36)
30
%
IR - IR correlation
35
98
33
98
%
IR - Inflation correlation
10
10
10
10
%
Inflation - Inflation
correlation
5
5
5
5
%
Equity derivatives
Option model
Equity volatility
1
88
1
133
%
Equity - equity correlation
15
100
40
100
%
Discounted cash flow
Discount margin
(190)
350
(215)
351
bps
Non-derivative financial
instruments
Loans
Discounted cash flows
Loan spread
30
942
35
908
bps
Credit spread
194
420
194
1,011
bps
Discount margin
780
1,170
230
345
bps
Yield
5
8
2
18
%
Comparable pricing
Comparable price
\u2014
186
\u2014
240
points
Private Equity investments
EBITDA multiple
EBITDA multiple
6
17
\u2014
\u2014
Multiple
Asset backed securities
Comparable pricing
Comparable price
\u2014
530
\u2014
125
points
Discounted cash flows
Discount margin
n/m4
n/m4
(137)
(25)
bps
Option Model
Equity volatility
n/m4
n/m4
15
32
%
Corporate debt
Comparable pricing
Comparable price
\u2014
239
\u2014
2,322
points
Government and
Government sponsored
debt
Comparable pricing
Comparable price
\u2014
231
\u2014
123
points
Issued debt
Discounted cash flows
Credit spread
80
120
50
198
bps
Option model
Equity volatility
1
95
1
111
%
Interest rate volatility
37
178
19
211
bps vol
Reverse repurchase and
repurchase agreements
Discounted cash flows
Repo spread
100
148
14
186
bps
Notes
1A range has not been provided for Net Asset Value as there would be a wide range reflecting the diverse nature of the positions.
2The units used to disclose ranges for significant unobservable inputs are percentages, points and basis points. Points are a percentage of par; for
example, 100 points equals 100% of par. A basis point equals 1/100th of 1%; for example, 150 basis points equals 1.5%.
3Certain derivative instruments are classified as Level 3 due to a significant unobservable credit spread input into the calculation of the Credit
Valuation Adjustment for the instruments.
4\u00a0 \u00a0 \u00a0 Non-material Level 3 balances for these unobservable inputs.
The following section describes the significant unobservable inputs identified in the table above, and the sensitivity of fair
value measurement of the instruments categorised as Level 3 assets or liabilities to increases in significant unobservable
inputs. Where sensitivities are described, the inverse relationship will also generally apply.
Where reliable interrelationships can be identified between significant unobservable inputs used in fair value measurement, a
description of those interrelationships is included below.
Forwards
A price or rate that is applicable to a financial transaction that will take place in the future.
In general, a significant increase in a forward in isolation will result in a fair value increase for the contracted receiver of the
underlying (currency, bond, commodity, etc.), but the sensitivity is dependent on the specific terms of the instrument.
Credit spread
Credit spreads typically represent the difference in yield between an instrument and a benchmark security or reference rate.
Credit spreads reflect the additional yield that a market participant demands for taking on exposure to the credit risk of an
instrument and forms part of the yield used in a discounted cash flow calculation.
In general, a significant increase in credit spread in isolation will result in a fair value decrease for a cash asset.
For a derivative instrument, a significant increase in credit spread in isolation can result in a fair value increase or decrease
depending on the specific terms of the instrument.
Volatility
Volatility is a measure of the variability or uncertainty in return for a given derivative underlying. It is an estimate of how
much a particular underlying instrument input or index will change in value over time. In general, volatilities are implied from
observed option prices. For unobservable options the implied volatility may reflect additional assumptions about the nature
of the underlying risk, and the strike/maturity profile of a specific contract.
In general, a significant increase in volatility in isolation will result in a fair value increase for the holder of a simple option,
but the sensitivity is dependent on the specific terms of the instrument.
There may be interrelationships between unobservable volatilities and other unobservable inputs (e.g. when equity prices
fall, implied equity volatilities generally rise) but these are generally specific to individual markets and may vary over time.
Correlation
Correlation is a measure of the relationship between the movements of two variables. Correlation can be a significant input
into valuation of derivative contracts with more than one underlying instrument. Credit correlation generally refers to the
correlation between default processes for the separate names that make up the reference pool of a collateralised debt
obligation (CDO) structure.
A significant increase in correlation in isolation can result in a fair value increase or decrease depending on the specific terms
of the instrument.
Discount Margin
Discount margin represents the additional yield over a benchmark rate that market participants require to compensate for
credit risk, liquidity risk, and other factors associated with the instrument. Commonly used in discounted cash flow
valuations
In general, a significant increase in discount margin in isolation will result in a fair value decrease for the instrument, as
higher required returns reduce present value. The sensitivity depends on the specific terms of the instrument.
Repo Spread
Repo spread refers to the difference between the repurchase agreement rate and a benchmark funding rate. It reflects
market conditions, counterparty credit risk, and liquidity premiums that influence the cost of financing through repos.
In general, a significant increase in repo spread in isolation will result in a fair value decrease for the instrument, as higher
financing costs reduce its attractiveness. The sensitivity is dependent on the specific contractual terms.
Comparable price
Comparable instrument prices are used in valuation by calculating an implied yield (or spread over a liquid benchmark) from
the price of a comparable observable instrument, then adjusting that yield (or spread) to account for relevant differences
such as maturity or credit quality. Alternatively, a price-to-price basis can be assumed between the comparable and
unobservable instruments in order to establish a value.
Loans include a portfolio of loans extended to clients within the Barclays Bank Group\u2019s leveraged finance business.
Leveraged finance loans are originated where Barclays Bank Group provides financing commitments to clients to facilitate
strategic transactions such as leverage buyouts and acquisitions. The sensitivity of the portfolio to unobservable inputs is
judgmental reflecting their illiquid nature and the significance of unobservable price inputs to the valuation.
In general, a significant increase in comparable price in isolation will result in an increase in the price of the unobservable
instrument. For derivatives, a change in the comparable price in isolation can result in a fair value increase or decrease
depending on the specific terms of the instrument.
Loan spread
Loan spreads typically represent the difference in yield between an instrument and a benchmark security or reference rate.
Loan spreads typically reflect credit quality, the level of comparable assets such as gilts and other factors, and form part of
the yield used in a discounted cash flow calculation.
In general, a significant increase in loan spreads in isolation will result in a fair value decrease for a loan.
Sensitivity Analysis
Sensitivity analysis is performed on products with significant unobservable inputs (Level 3) to generate a range of
reasonably possible alternative valuations. The sensitivity methodologies applied take account of the nature of the valuation
techniques used, as well as the availability and reliability of observable proxy and historical data and the impact of using
alternative models.
Sensitivities are calculated on a monthly basis. The calculation is based on range or spread data of a reliable reference source
or a scenario based on relevant market analysis alongside the impact of using alternative models. Sensitivities are calculated
without reflecting the impact of any diversification in the portfolio.
Sensitivity analysis of valuations using unobservable inputs (relates to Level 3 portfolios)
2025
2024
Favourable changes
Unfavourable changes
Favourable changes
Unfavourable changes
Income
statement
Equity
Income
statement
Equity
Income
statement
Equity
Income
statement
Equity
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a0 Loans
201
21
(297)
(37)
577
43
(742)
(43)
\u00a0 Corporate debt
88
\u2014
(68)
\u2014
87
\u2014
(56)
\u2014
\u00a0 Asset backed securities
51
6
(43)
(6)
57
4
(40)
(4)
\u00a0 Government and Government
sponsored debt
45
\u2014
(41)
\u2014
47
\u2014
(56)
\u2014
\u00a0 Private equity investments
37
\u2014
(37)
\u2014
28
\u2014
(28)
\u2014
\u00a0 Interest rate derivatives
109
\u2014
(134)
\u2014
98
\u2014
(212)
\u2014
\u00a0 Equity derivatives
336
\u2014
(336)
\u2014
199
\u2014
(269)
\u2014
Other products1
105
312
(104)
(89)
91
\u2014
(104)
\u2014
Total
972
339
(1,060)
(132)
1,184
47
(1,507)
(47)
Note
1Other products include issued debt, reverse repurchase and repurchase agreements, certificate of deposits, funds and fund-linked products,
equity cash products, credit derivatives and foreign exchange derivatives.
The effect of stressing unobservable inputs to a range of reasonably possible alternatives, alongside considering the impact
of using alternative models, would be to increase fair values by up to \u00a31,311m (2024: \u00a31,231m) or to decrease fair values by
up to \u00a31,192m (2024: \u00a31,554m) with substantially all the potential effect impacting profit and loss. Unfavourable changes
shown in the table above are partly provided for through the capital and prudential valuation adjustment framework.
Fair value adjustments
Key balance sheet valuation adjustments are quantified below:
2025
2024
Barclays Bank Group
\u00a3m
\u00a3m
Exit price adjustments derived from market bid-offer spreads
(618)
(529)
Uncollateralised derivative funding
62
19
Derivative credit valuation adjustments
(155)
(184)
Derivative debit valuation adjustments
119
108
Exit price adjustments derived from market bid-offer spreads
Barclays Bank Group uses mid-market pricing where it is a market maker and has the ability to transact at, or better than,
mid-price (which is the case for certain equity, bond and vanilla derivative markets). For other financial assets and liabilities,
bid-offer adjustments are recorded to reflect the exit level for the expected close out strategy. The methodology for
determining the bid-offer adjustment for a derivative portfolio involves calculating the net risk exposure by offsetting long
and short positions by strike and term in accordance with the risk management and hedging strategy.
Bid-offer levels are generally derived from market quotes such as broker data. Less liquid instruments may not have a
directly observable bid-offer level. In such instances, an exit price adjustment may be derived from an observable bid-offer
level for a comparable liquid instrument, or determined by calibrating to derivative prices, or by scenario or historical
analysis.
Exit price adjustments derived from market bid-offer spreads have increased by \u00a389m.
Discounting approaches for derivative instruments
Collateralised
In line with market practice, the methodology for discounting collateralised derivatives takes into account the nature and
currency of the collateral that can be posted within the relevant credit support annex (CSA). The CSA aware discounting
approach recognises the \u2018cheapest to deliver\u2019 option that reflects the ability of the party posting collateral to change the
currency of the collateral.
Uncollateralised
A fair value adjustment of \u00a362m is applied to account for the impact of incorporating the cost/benefit of funding into the
valuation of uncollateralised and partially collateralised derivative portfolios and collateralised derivatives where the terms of
the agreement do not allow the rehypothecation of collateral received. The derivative funding adjustment has moved by
\u00a343m.
Derivative credit and debit valuation adjustments
Derivative credit valuation adjustments and derivative debit valuation adjustments are incorporated into derivative
valuations to reflect the impact on fair value of counterparty credit risk and Barclays Bank Group\u2019s own credit quality
respectively. These adjustments are calculated for uncollateralised and partially collateralised derivatives across all asset
classes. Derivative credit valuation adjustments and derivative debit valuation adjustments are calculated using estimates of
exposure at default, probability of default and recovery rates, at a counterparty level. Counterparties include (but are not
limited to) corporates, Sovereigns and Sovereign agencies and Supranationals.
Exposure at default is generally estimated through the simulation of underlying risk factors through approximating with a
more vanilla structure, or by using current or scenario-based mark to market as an estimate of future exposure.
Probability of default and recovery rate information is generally sourced from the credit default swap (CDS) markets. Where
this information is not available, or considered unreliable, alternative approaches are taken based on mapping internal
counterparty ratings onto historical or market-based default and recovery information.
Derivative credit valuation adjustments decreased by \u00a329m. Derivative debit valuation adjustments increased by \u00a3(11)m.
Correlation between counterparty credit and underlying derivative risk factors, termed \u2018wrong-way,\u2019 or \u2018right-way\u2019 risk, is not
systematically incorporated into the derivative credit valuation adjustments calculation but is adjusted where the underlying
exposure is directly related to the counterparty.
Barclays Bank Group continues to monitor market practices and activity to ensure the approach to uncollateralised
derivative valuation remains appropriate.
Unrecognised gains as a result of the use of valuation models using unobservable inputs
The amount that is yet to be recognised in income, relating to the difference between the transaction price (the fair value at
initial recognition) and the amount that would have arisen had valuation models using unobservable inputs been used on
initial recognition, is \u00a3258m (2024: \u00a3267m) for financial instruments measured at fair value. There are additions and FX
revaluation of \u00a354m (2024: \u00a3177m) and amortisation and releases of \u00a363m (2024: \u00a3104m) for these instruments. For
financial instruments carried at amortised cost, the amount that is yet to be recognised in income is \u00a316m (2024: \u00a317m).
There are additions of \u00a3nil (2024: \u00a3nil) and amortisation and releases of \u00a31m (2024: \u00a31m) for these instruments.
Third-party credit enhancements
Structured and brokered certificates of deposit issued by Barclays Bank Group are insured up to $250,000 per depositor by
the Federal Deposit Insurance Corporation (FDIC) in the United States. The FDIC is funded by fees that Barclays Bank Group
and other banks pay for deposit insurance coverage. The carrying value of these issued certificates of deposit that are
designated under the IFRS 9 fair value option includes this third-party credit enhancement. The on-balance sheet value of
these brokered certificates of deposit amounted to \u00a34,156m (2024: \u00a34,844m).
Comparison of carrying amounts and fair values for assets and liabilities not held at fair value
The following table shows the fair value of financial assets and liabilities measured at amortised cost on Barclays Bank
Group\u2019s and Barclays Bank PLC's balance sheet disaggregated by the fair value hierarchy and balance sheet classification
Barclays Bank Group
2025
2024
Carrying
amount
Fair value
Level 1
Level 2
Level 3
Carrying
amount
Fair value
Level 1
Level 2
Level 3
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Financial assets
Debt securities at amortised cost
55,153
54,165
31,675
19,043
3,447
50,227
49,400
18,307
29,509
1,584
Loans and advances at
amortised cost
150,786
152,780
7,365
67,077
78,338
144,827
146,369
6,791
67,601
71,977
Reverse repurchase agreements
and other similar secured
lending
17,662
17,662
\u2014
17,662
\u2014
3,393
3,393
\u2014
3,393
\u2014
Assets included in disposal
groups classified as held for sale
5,801
6,065
\u2014
\u2014
6,065
9,544
9,628
\u2014
3,520
6,108
Financial liabilities
Deposits at amortised cost
(344,751)
(344,803)
(215,669)
(128,205)
(929)
(319,376)
(319,135)
(203,393)
(115,172)
(570)
Repurchase agreements and
other similar secured borrowing
(18,651)
(18,651)
\u2014
(18,651)
\u2014
(29,397)
(29,397)
\u2014
(29,397)
\u2014
Debt securities in issue
(57,229)
(57,170)
\u2014
(56,343)
(827)
(35,803)
(35,745)
\u2014
(34,612)
(1,133)
Subordinated liabilities
(45,239)
(47,511)
\u2014
(46,850)
(661)
(41,875)
(43,030)
\u2014
(42,189)
(841)
Liabilities included in disposal
groups classified as held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
(3,647)
(3,647)
\u2014
(3,647)
\u2014
The fair value is an estimate of the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. As a wide range of valuation techniques are available, it
may not be appropriate to directly compare this fair value information to independent market sources or other financial
institutions. Different valuation methodologies and assumptions can have a significant impact on fair values which are based
on unobservable inputs.
Debt Securities at amortised cost
Debt securities at amortised cost are valued using observable market prices sourced from broker quotes, inter-dealer prices
or other reliable pricing sources. Observability assessment is performed with reference to bond market trading data. Bonds
are assessed at Level 1 if they are traded in active market with a quoted price in line with requirements of IFRS 13.\u00a0 Where
market data for the underlying bond is unavailable, a number of proxy/extrapolation techniques are employed to determine
the appropriate fair value. The enhancements noted in levelling policy are applicable to the government bonds reported at
amortised cost.
Loans and advances at amortised cost
The fair value of loans and advances, for the purpose of this disclosure, is derived from discounting expected cash flows in a
way that reflects the current market price or loan spreads of the borrowers. Where market data or credit information on the
underlying borrowers is unavailable, a number of proxy/extrapolation techniques are employed to determine the
appropriate discount rates.
Reverse repurchase agreements and other similar secured lending
The fair value of reverse repurchase agreements approximates carrying amounts as these balances are generally short dated
and fully collateralised.
Deposits at amortised cost
In many cases, the fair value disclosed approximates carrying value because the instruments are short-term in nature or
have interest rates that reprice frequently, such as customer accounts and other deposits and short-term debt securities.
The fair value for deposits with longer-term maturities, mainly time deposits, are estimated using discounted cash flows
applying either market rates or current rates for deposits of similar remaining maturities.
Repurchase agreements and other similar secured borrowing
The fair value of repurchase agreements approximates carrying amounts as these balances are generally short dated.
Debt securities in issue
Fair values of other debt securities in issue are based on quoted prices where available or, where the instruments are short
dated, carrying amount approximates fair value.
Subordinated liabilities
Fair values for dated and undated convertible and non-convertible loan capital are based on quoted market rates for the
issuer concerned or issuers with similar terms and conditions.
Assets & liabilities included in disposal groups classified as held for sale
The fair value for the purposes of this disclosure has been prepared in accordance with the products held for sale, and
valuation techniques used to determine the expected sales price of these assets and liabilities that will be achieved when the
disposal group is sold.
Offsetting financial assets and financial liabilities
The Barclays Bank Group reports financial assets and financial liabilities on a net basis on the balance sheet only if there is a
legally enforceable right to set-off the recognised amounts and there is intention to settle on a net basis, or to realise the
asset and settle the liability simultaneously. The following table shows the impact of netting arrangements on:
\u25aa All financial assets and liabilities that are reported net on the balance sheet.
\u25aa All derivative financial instruments and reverse repurchase and repurchase agreements and other similar secured lending
and borrowing agreements that are subject to enforceable master netting arrangements or similar agreements, but do not
qualify for balance sheet netting.
Barclays Bank Group
Amounts subject to enforceable netting arrangements
Amounts not
subject to
enforceable
netting
arrangement
s3
Balance
sheet
total 4
Effects of offsetting on-balance sheet
Related amounts not offset
Gross
amounts
Amounts
offset1
Net amounts
reported on
the balance
sheet
Financial
instruments
Financial
collateral2
Net
amount
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Derivative financial assets
290,878
(42,571)
248,307
(194,772)
(42,576)
10,959
3,885
252,192
Reverse repurchase agreements
and other similar secured
lending5
779,249
(629,905)
149,344
\u2014
(148,995)
349
918
150,262
Total assets
1,070,127
(672,476)
397,651
(194,772)
(191,571)
11,308
4,803
402,454
Derivative financial liabilities
(278,710)
43,257
(235,453)
194,772
28,444
(12,237)
(5,304)
(240,757)
Repurchase agreements and
other similar secured borrowing5
(805,574)
629,905
(175,669)
\u2014
175,669
\u2014
(1,839)
(177,508)
Total liabilities
(1,084,284)
673,162
(411,122)
194,772
204,113
(12,237)
(7,143)
(418,265)
As at 31 December 2024
Derivative financial assets
333,711
(47,207)
286,504
(230,260)
(41,586)
14,658
5,852
292,356
Reverse repurchase agreements
and other similar secured
lending5
700,005
(556,219)
143,786
\u2014
(143,347)
439
1,398
145,184
Total assets
1,033,716
(603,426)
430,290
(230,260)
(184,933)
15,097
7,250
437,540
Derivative financial liabilities
(318,990)
46,040
(272,950)
230,260
27,660
(15,030)
(6,381)
(279,331)
Repurchase agreements and
other similar secured borrowing5
(737,053)
556,219
(180,834)
\u2014
180,834
\u2014
(4,587)
(185,421)
Total liabilities
(1,056,043)
602,259
(453,784)
230,260
208,494
(15,030)
(10,968)
(464,752)
Notes
1. Amounts offset for derivative financial assets additionally includes cash collateral netted of \u00a36,086m ( 2024: \u00a35,126m). Amounts offset for
derivative financial liabilities additionally includes cash collateral netted of \u00a35,400m (2024: \u00a36,293m). Settlement assets and liabilities have been
offset amounting to \u00a338,196m (2024 : \u00a325,133m).
2. Financial collateral of \u00a342,576m (2024 : \u00a341,586m) was received in respect of derivative assets, including \u00a329,930m (2024: \u00a328,953m) of cash
collateral and \u00a312,646m (2024: \u00a312,633m) of non-cash collateral. Financial collateral of \u00a328,444m ( 2024: \u00a327,660m) was placed in respect of
derivative liabilities, including \u00a323,267m (2024 : \u00a323,109m) of cash collateral and \u00a35,177m (2024: \u00a34,551m) of non-cash collateral. The collateral
amounts are limited to net balance sheet exposure so as to not include over-collateralisation.
3. This column includes contractual rights of set-off that are subject to uncertainty under the laws of the relevant jurisdiction.
4. The balance sheet total is the sum of \u2018Net amounts reported on the balance sheet\u2019 that are subject to enforceable netting arrangements and
\u2018Amounts not subject to enforceable netting arrangements\u2019.
5. Reverse repurchase agreements and other similar secured lending of \u00a3150,262m (2024: \u00a3145,184m) is split by fair value \u00a3132,600m (2024:
\u00a3141,791m) and amortised cost \u00a317,662m (2024: \u00a33,393m). Repurchase agreements and other similar secured borrowing of \u00a3177,508m (2024:
\u00a3185,421m) is split by fair value \u00a3158,857m ( 2024: \u00a3156,024m) and amortised cost \u00a318,651m (2024: \u00a329,397m).
These offsetting collateral arrangements and other credit risk mitigation strategies used by the Barclays Bank Group are
further explained in the Credit risk management section.
Securitisations
Accounting for securitisations
The Barclays Bank Group uses securitisations as a source of finance and a means of risk transfer. Such transactions generally
result in the transfer of contractual cash flows from portfolios of financial assets to holders of issued debt securities.
Securitisations may, depending on the individual arrangement, result in continued recognition of the securitised assets and
the recognition of the debt securities issued in the transaction; lead to partial continued recognition of the assets to the
extent of the Barclays Bank Group\u2019s continuing involvement in those assets or lead to derecognition of the assets and the
separate recognition, as assets or liabilities, of any rights and obligations created or retained in the transfer. Full
derecognition only occurs when the Barclays Bank Group transfers both its contractual right to receive cash flows from the
financial assets, or retains the contractual rights to receive the cash flows, but assumes a contractual obligation to pay the
cash flows to another party without material delay or reinvestment, and also transfers substantially all the risks and rewards
of ownership, including credit risk, prepayment risk and interest rate risk.
In the course of its normal banking activities, the Barclays Bank Group transfers financial assets, either where legal rights to
the cash flows from the asset are passed to the counterparty or beneficially, where the Barclays Bank Group retains the
rights to the cash flows but assumes a responsibility to transfer them to the counterparty. Depending on the nature of the
transaction, this may result in derecognition of the assets in their entirety, partial derecognition or no derecognition of the
assets subject to the transfer.
A summary of the main transactions, and the assets and liabilities and the financial risks arising from these transactions, is
set out below:
Transfers of financial assets that do not result in derecognition
Securitisations
The Barclays Bank Group was party to securitisation transactions involving its credit card balances, consumer and mortgage
loans.
In these transactions, the assets, interests in the assets, or beneficial interests in the cash flows arising from the assets, are
transferred to a special purpose entity, which then issues interest bearing debt securities to third party investors.
Securitisations may, depending on the individual arrangement, result in continued recognition of the securitised assets and
the recognition of the debt securities issued in the transaction. Partial continued recognition of the assets to the extent of
the Barclays Bank Group\u2019s continuing involvement in those assets can also occur or derecognition of the assets and the
separate recognition, as assets or liabilities, of any rights and obligations created or retained in the transfer.
The following table shows the carrying amount of securitised assets that have not resulted in full derecognition, together
with the associated liabilities, for each category of asset on the balance sheet:
2025
2024
Assets
Liabilities
Assets
Liabilities
Carrying
amount
Fair value
Carrying
amount
Fair value
Carrying
amount
Fair value
Carrying
amount
Fair value
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Bank Group
Loans and advances at amortised cost
Credit cards, unsecured loans and other retail
lending
5,879
5,935
(929)
(933)
6,575
7,158
(1,575)
(1,579)
Financial assets at FVTPL
Mortgage Loans
1,523
1,523
\u2014
\u2014
576
576
\u2014
\u2014
Assets included in disposal groups classified
as held for sale
Personal Loans
\u2014
\u2014
\u2014
\u2014
846
826
\u2014
\u2014
Total
7,402
7,458
(929)
(933)
7,997
8,560
(1,575)
(1,579)
Balances included within loans and advances at amortised cost represent securitisations where substantially all the risks and
rewards of the assets have been retained by the Barclays Bank Group and balances included within Financial assets at FVTPL
and Assets included in disposal groups classified as held for sale represent securitisations where the risks and rewards are
neither substantially transferred nor retained.
The relationship between the transferred assets and the associated liabilities is that holders of notes may only look to cash
flows from the securitised assets for payments of principal and interest due to them under the terms of their notes, although
the contractual terms of their notes may be different to the maturity and interest of the transferred assets.
If the Barclays Bank Group transfers a financial asset but does not transfer or retain substantially all the risk and rewards of
the asset and retains control over it, the transferred assets are recognised to the extent of the Barclays Bank Group's
continuing involvement. Total Financial assets of \u00a321,932m (2024: \u00a311,951m) were originally transferred in this manner
and the carrying value of the assets representing continued involvement is included in the table above.
For transfers of assets in relation to repurchase agreements, see Note 35.
Continuing involvement in financial assets that have been derecognised
In some cases, the Barclays Bank Group may have transferred a financial asset in its entirety but may have continuing
involvement in it. This arises in asset securitisations where loans and asset backed securities were derecognised as a result
of the Barclays Bank Group\u2019s involvement with asset backed securities, residential mortgage backed securities and
commercial mortgage backed securities. Continuing involvement largely arises from providing financing into these
structures in the form of retained notes, which do not bear first losses.
The table below shows the potential financial implications of such continuing involvement:
Continuing involvement 1
Gain from continuing involvement
Carrying
amount
Fair value
Maximum
exposure to
loss 2
For the year
ended
Cumulative to
31 December
Type of transfer
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
2025
Asset backed securities
67
67
141
3
5
Residential mortgage backed securities
2,454
2,454
2,454
99
331
Commercial mortgage backed securities
360
328
360
5
26
Total
2,881
2,849
2,955
107
362
2024
Asset backed securities
53
53
130
1
1
Residential mortgage backed securities
3,439
3,437
3,439
155
231
Commercial mortgage backed securities
377
334
377
3
21
Total
3,869
3,824
3,946
159
253
Notes
1\u00a0 Assets which represent the Barclays Bank Group\u2019s continuing involvement in derecognised assets are recorded in Loans and advances at amortised
cost and Debt securities at FVTPL.
2\u00a0 Maximum exposure to loss includes notional value of undrawn loan commitment, if any.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-563": { "value": "
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Debt securities and other eligible bills
94,040
77,805
Equity securities
83,243
74,859
Traded loans
12,249
13,470
Commodities
211
110
Trading Portfolio Assets
189,743
166,244
Debt securities and other eligible bills
(32,309)
(36,324)
Equity securities
(24,520)
(19,858)
Trading Portfolio Liabilities
(56,829)
(56,182)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-562": { "value": "
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Debt securities and other eligible bills
94,040
77,805
Equity securities
83,243
74,859
Traded loans
12,249
13,470
Commodities
211
110
Trading Portfolio Assets
189,743
166,244
Debt securities and other eligible bills
(32,309)
(36,324)
Equity securities
(24,520)
(19,858)
Trading Portfolio Liabilities
(56,829)
(56,182)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesHeldForTradingExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-565": { "value": "Financial assets at fair value through the income statemen t
Accounting for financial assets designated at fair value
Financial assets, other than those held for trading, are classified in this category if they are so irrevocably designated at
inception and the use of the designation removes or significantly reduces an accounting mismatch.
Subsequent changes in fair value for these instruments are recognised in the income statement in net investment income,
except if reporting it in trading income reduces an accounting mismatch.
The details on how the fair value amounts are derived for financial assets at fair value are described in Note 16.
Accounting for financial assets mandatorily at fair value
Financial assets that are held for trading are recognised at fair value through profit or loss. In addition, financial assets are
held at fair value through profit or loss if they do not contain contractual terms that give rise on specified dates to cash
flows that are Solely Payments of Principal and Interest (SPPI), or if the financial asset is not held in a business model that is
either (i) a business model to collect the contractual cash flows or (ii) a business model that is achieved by both collecting
contractual cash flows and selling.
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Loans and advances
785
1,039
Debt securities
303
182
Other financial assets
\u2014
\u2014
Financial assets designated at fair value\u00a0
1,088
1,221
Loans and advances
46,100
43,143
Debt securities
2,818
2,749
Equity securities
2,336
2,856
Reverse repurchase agreements and other similar secured lending
132,600
141,791
Other financial assets
60
85
Financial assets mandatorily at fair value\u00a0
183,914
190,624
Total
185,002
191,845
Credit risk of financial assets designated at fair value and related credit derivatives
The following table shows the maximum exposure to credit risk, the changes in fair value attributable to changes in credit
risk, and the cumulative changes in fair value since initial recognition for loans and advances. The table does not include
debt securities as they have minimal exposure to credit risk due to limited gross exposure.
Barclays Bank Group
Maximum exposure as at 31
December
Changes in fair value during
the year ended
Cumulative changes in fair
value from inception
2025
2024
2025
2024
2025
2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Loans and advances designated at fair value,
attributable to credit risk
785
1,039
2
(2)
(2)
(4)
Value mitigated by related credit derivatives
193
405
(2)
\u2014
(2)
\u2014
Financial liabilities designated at fair value
Accounting for liabilities designated at fair value through profit and loss
The Barclays Bank Group has the ability to make the fair value designation when holding the instruments at fair value
reduces an accounting mismatch (caused by an offsetting liability or asset being held at fair value), or is managed by the
Barclays Bank Group on the basis of its fair value, or includes terms that have substantive derivative characteristics (Note
13). In accordance with IFRS 9, financial liabilities may be designated at fair value, with gains and losses taken to the
income statement within net trading income (Note 5) and net investment income (Note 6). Movements in own credit are
reported through other comprehensive income, unless the effects of changes in the liability's credit risk would create or
enlarge an accounting mismatch in profit and loss. In these scenarios, all gains and losses on that liability (including the
effects of changes in the credit risk of the liability) are presented in profit and loss. On derecognition of the financial liability
no amounts relating to own credit risk are recycled to the income statement. The details on how the fair value amounts are
arrived at for financial liabilities designated at fair value are described in Note 16.
Barclays Bank Group
2025
2024
Fair value
Contractual
amount due
on maturity
Fair value
Contractual
amount due
on maturity
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Debt securities
85,086
99,105
76,833
92,479
Deposits
48,997
51,262
46,383
48,201
Repurchase agreements and other similar secured borrowing
158,857
159,276
156,024
156,600
Subordinated debt
587
967
537
957
Financial liabilities designated at fair value
293,527
310,610
279,777
298,237
The cumulative own credit net loss recognised for Barclays Bank Group is \u00a3 1,335m ( 2024: \u00a31,434m loss) and for Barclays
Bank PLC it is \u00a31,263m (2024 : \u00a31,369 m loss)", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-564": { "value": "Financial assets at fair value through the income statemen t
Accounting for financial assets designated at fair value
Financial assets, other than those held for trading, are classified in this category if they are so irrevocably designated at
inception and the use of the designation removes or significantly reduces an accounting mismatch.
Subsequent changes in fair value for these instruments are recognised in the income statement in net investment income,
except if reporting it in trading income reduces an accounting mismatch.
The details on how the fair value amounts are derived for financial assets at fair value are described in Note 16.
Accounting for financial assets mandatorily at fair value
Financial assets that are held for trading are recognised at fair value through profit or loss. In addition, financial assets are
held at fair value through profit or loss if they do not contain contractual terms that give rise on specified dates to cash
flows that are Solely Payments of Principal and Interest (SPPI), or if the financial asset is not held in a business model that is
either (i) a business model to collect the contractual cash flows or (ii) a business model that is achieved by both collecting
contractual cash flows and selling.
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Loans and advances
785
1,039
Debt securities
303
182
Other financial assets
\u2014
\u2014
Financial assets designated at fair value\u00a0
1,088
1,221
Loans and advances
46,100
43,143
Debt securities
2,818
2,749
Equity securities
2,336
2,856
Reverse repurchase agreements and other similar secured lending
132,600
141,791
Other financial assets
60
85
Financial assets mandatorily at fair value\u00a0
183,914
190,624
Total
185,002
191,845
Credit risk of financial assets designated at fair value and related credit derivatives
The following table shows the maximum exposure to credit risk, the changes in fair value attributable to changes in credit
risk, and the cumulative changes in fair value since initial recognition for loans and advances. The table does not include
debt securities as they have minimal exposure to credit risk due to limited gross exposure.
Barclays Bank Group
Maximum exposure as at 31
December
Changes in fair value during
the year ended
Cumulative changes in fair
value from inception
2025
2024
2025
2024
2025
2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Loans and advances designated at fair value,
attributable to credit risk
785
1,039
2
(2)
(2)
(4)
Value mitigated by related credit derivatives
193
405
(2)
\u2014
(2)
\u2014
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-566": { "value": "
Accounting for financial assets designated at fair value
Financial assets, other than those held for trading, are classified in this category if they are so irrevocably designated at
inception and the use of the designation removes or significantly reduces an accounting mismatch.
Subsequent changes in fair value for these instruments are recognised in the income statement in net investment income,
except if reporting it in trading income reduces an accounting mismatch.
The details on how the fair value amounts are derived for financial assets at fair value are described in Note 16.
Accounting for financial assets mandatorily at fair value
Financial assets that are held for trading are recognised at fair value through profit or loss. In addition, financial assets are
held at fair value through profit or loss if they do not contain contractual terms that give rise on specified dates to cash
flows that are Solely Payments of Principal and Interest (SPPI), or if the financial asset is not held in a business model that is
either (i) a business model to collect the contractual cash flows or (ii) a business model that is achieved by both collecting
contractual cash flows and selling.
Accounting for liabilities designated at fair value through profit and loss
The Barclays Bank Group has the ability to make the fair value designation when holding the instruments at fair value
reduces an accounting mismatch (caused by an offsetting liability or asset being held at fair value), or is managed by the
Barclays Bank Group on the basis of its fair value, or includes terms that have substantive derivative characteristics (Note
13). In accordance with IFRS 9, financial liabilities may be designated at fair value, with gains and losses taken to the
income statement within net trading income (Note 5) and net investment income (Note 6). Movements in own credit are
reported through other comprehensive income, unless the effects of changes in the liability's credit risk would create or
enlarge an accounting mismatch in profit and loss. In these scenarios, all gains and losses on that liability (including the
effects of changes in the credit risk of the liability) are presented in profit and loss. On derecognition of the financial liability
no amounts relating to own credit risk are recycled to the income statement. The details on how the fair value amounts are
arrived at for financial liabilities designated at fair value are described in Note 16.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-567": { "value": "Derivative financial instruments
Accounting for derivatives
Derivative instruments are contracts whose value is derived from one or more underlying financial instruments or indices
defined in the contract. They include swaps, forward-rate agreements, futures, options and combinations of these
instruments and primarily affect the Barclays Bank Group\u2019s net interest income, net trading income and derivative assets and
liabilities. Notional amounts of the contracts are not recorded on the balance sheet. Derivatives are used to hedge interest
rate, credit risk, inflation risk, exchange rate, commodity, equity exposures and exposures to certain indices such as house
price indices and retail price indices related to non-trading positions.
All derivative instruments are held at fair value through profit or loss, except for derivatives that are in a designated cash
flow or net investment hedge accounting relationship. Derivatives are classified as assets when their fair value is positive or
as liabilities when their fair value is negative.
Hedge accounting
The Barclays Bank Group applies the requirements of IAS 39 Financial Instruments: Recognition and Measurement for hedge
accounting purposes. The Barclays Bank Group applies hedge accounting to represent the economic effects of its interest
rate, currency and contractually linked inflation risk management strategies. Where derivatives are held for risk management
purposes, and when transactions meet the required criteria for documentation and hedge effectiveness, the Barclays Bank
Group applies fair value hedge accounting, cash flow hedge accounting, or hedging of a net investment in a foreign
operation, as appropriate to the risks being hedged.
Fair value hedge accounting
Changes in fair value of derivatives that qualify and are designated as fair value hedges are recorded in the income
statement, together with changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The
fair value changes adjust the carrying value of the hedged asset or liability held at amortised cost.For hedged items classified
as fair value through other comprehensive income, fair value movements attributable to the hedged risk are transferred from
other comprehensive income to the income statement.
If hedge relationships no longer meet the criteria for hedge accounting, hedge accounting is discontinued. For fair value
hedges of interest rate risk, the fair value adjustment to the hedged item is amortised to the income statement over the
period to maturity of the previously designated hedge relationship using the effective interest method. If the hedged item is
sold or repaid, the unamortised fair value adjustment is recognised immediately in the income statement.
Cash flow hedge accounting
For qualifying cash flow hedges, the fair value gain or loss associated with the effective portion of the cash flow hedge is
recognised initially in other comprehensive income, and then recycled to the income statement in the periods when the
hedged item will affect profit or loss. Any ineffective portion of the gain or loss on the hedging instrument is recognised in
the income statement immediately.
When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any
cumulative gain or loss existing in equity at that time remains in equity and is recognised when the hedged item is ultimately
recognised in the income statement. When a forecast transaction is no longer expected to occur, the cumulative gain or loss
that was recognised in equity is immediately transferred to the income statement.
Hedges of net investments
The Barclays Bank Group\u2019s net investments in foreign operations, including monetary items accounted for as part of the net
investment, are hedged for foreign currency risks using both derivatives and foreign currency borrowings. Hedges of net
investments are accounted for similarly to cash flow hedges; the effective portion of the gain or loss on the hedging
instrument is being recognised directly in other comprehensive income and the ineffective portion being recognised
immediately in the income statement. The cumulative gain or loss recognised in other comprehensive income is recognised
in the income statement on the disposal or partial disposal of the foreign operation, or other reductions in the Barclays Bank
Group\u2019s investment in the operation.
Barclays Bank Group
2025
2024
Notional
contract
amount
Fair value
Notional
contract
amount
Fair value
Assets
Liabilities
Assets
Liabilities
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Total derivative assets/(liabilities) held for trading
99,839,732
250,285
(240,158)
83,571,610
291,562
(278,636)
Total derivative assets/(liabilities) held for risk management
239,559
1,907
(599)
221,158
794
(695)
Derivative assets/(liabilities)
100,079,291
252,192
(240,757)
83,792,768
292,356
(279,331)
The fair values and notional amounts of derivatives held for trading are set out in the following table:
Derivatives held for trading and risk management
2025
2024
Barclays Bank Group
Notional
contract
amount
Fair value
Notional
contract
amount
Fair value
Assets
Liabilities
Assets
Liabilities
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Derivatives held for trading
Foreign exchange derivatives
OTC derivatives
8,229,535
73,979
(71,525)
8,242,887
123,379
(116,485)
Derivatives cleared by central counterparty
276,189
251
(221)
240,612
228
(235)
Exchange traded derivatives
20,733
1
(1)
27,441
7
(7)
Foreign exchange derivatives
8,526,457
74,231
(71,747)
8,510,940
123,614
(116,727)
Interest rate derivatives
OTC derivatives
32,272,598
90,814
(77,199)
26,437,086
92,206
(79,936)
Derivatives cleared by central counterparty
42,100,741
1,409
(1,124)
36,249,392
1,443
(1,319)
Exchange traded derivatives
11,473,470
1,498
(1,457)
7,672,496
2,664
(2,698)
Interest rate derivatives
85,846,809
93,721
(79,780)
70,358,974
96,313
(83,953)
Credit derivatives
OTC derivatives
671,066
4,169
(4,666)
593,702
3,474
(4,307)
Derivatives cleared by central counterparty
1,065,702
3,682
(3,713)
943,413
3,424
(3,148)
Credit derivatives
1,736,768
7,851
(8,379)
1,537,115
6,898
(7,455)
Equity and stock index derivatives
OTC derivatives
739,153
22,180
(27,092)
598,024
21,964
(26,318)
Exchange traded derivatives
2,769,230
50,161
(51,063)
2,347,247
40,947
(42,309)
Equity and stock index derivatives
3,508,383
72,341
(78,155)
2,945,271
62,911
(68,627)
Commodity derivatives
OTC derivatives
4,681
15
(16)
7,084
17
(32)
Exchange traded derivatives
216,634
2,126
(2,081)
212,226
1,809
(1,842)
Commodity derivatives
221,315
2,141
(2,097)
219,310
1,826
(1,874)
Derivative assets/(liabilities) held for trading
99,839,732
250,285
(240,158)
83,571,610
291,562
(278,636)
Total OTC derivatives
41,917,033
191,157
(180,498)
35,878,783
241,040
(227,078)
Total derivatives cleared by central counterparty
43,442,632
5,342
(5,058)
37,433,417
5,095
(4,702)
Total exchange traded derivatives
14,480,067
53,786
(54,602)
10,259,410
45,427
(46,856)
Derivative assets/(liabilities) held for trading
99,839,732
250,285
(240,158)
83,571,610
291,562
(278,636)
Derivatives held for risk management
Derivatives designated as cash flow hedges
Currency Swaps
26,048
1,677
(39)
26,564
611
(307)
Interest rate derivatives cleared by central counterparty
101,099
\u2014
\u2014
86,759
\u2014
\u2014
Derivatives designated as cash flow hedges
127,147
1,677
(39)
113,323
611
(307)
Derivatives designated as fair value hedges
Interest rate swaps
4,900
75
(517)
7,234
147
(322)
Interest rate derivatives cleared by central counterparty
103,193
\u2014
\u2014
96,588
\u2014
\u2014
Derivatives designated as fair value hedges
108,093
75
(517)
103,822
147
(322)
Derivatives designated as hedges of net investments
Forward foreign exchange
4,319
155
(43)
4,013
36
(66)
Derivatives designated as hedges of net investments
4,319
155
(43)
4,013
36
(66)
Derivative assets/(liabilities) held for risk management
239,559
1,907
(599)
221,158
794
(695)
Total OTC derivatives
35,267
1,907
(599)
37,811
794
(695)
Total derivatives cleared by central counterparty
204,292
\u2014
\u2014
183,347
\u2014
\u2014
Derivative assets/(liabilities) held for risk management
239,559
1,907
(599)
221,158
794
(695)
Hedge accounting
Hedge accounting is applied predominantly for the following risks:
\u25aa Interest rate risk \u2013 arises due to a mismatch between fixed interest rates and floating interest rates
\u25aa Currency risk \u2013 arises due to assets or liabilities being denominated in different currencies than the functional currency of
the relevant entity. At a consolidated level, currency risk also arises when the functional currency of subsidiaries are
different from the parent
\u25aa Contractually linked inflation risk \u2013 arises from financial instruments within contractually specified inflation risk. The
Barclays Bank Group does not hedge inflation risk that arises from other activities
In order to hedge these risks, the Barclays Bank Group uses the following hedging instruments:
\u25aa Interest rate derivatives to swap interest rate exposure into either fixed or variable rates
\u25aa Currency derivatives to swap foreign currency exposures into the entity\u2019s functional currency, and net investment
exposure to local currency
\u25aa Inflation derivatives to swap inflation exposure into either fixed or variable interest rates
In some cases, certain items which are economically hedged may be ineligible hedged items for the purposes of IAS 39, such
as core deposits and equity. In these instances, a proxy hedging solution can be utilised whereby portfolios of floating rate
assets are designated as eligible hedged items in cash flow hedges.
In some hedging relationships, the Barclays Bank Group designates risk components of hedged items as follows:
\u25aa Benchmark interest rate risk as a component of interest rate risk, such as the Risk Free Rate (RFR) component
\u25aa Inflation risk as a contractually specified component of a debt instrument
\u25aa Exchange rate risk for foreign currency financial assets or financial liabilities
\u25aa Components of cash flows of hedged items, for example certain interest payments for part of the life of an instrument
Using the benchmark interest rate risk results in other risks, such as credit risk and liquidity risk, being excluded from the
hedge accounting relationship.
In respect of many of the Barclays Bank Group\u2019s hedge accounting relationships, the hedged item and hedging instrument
change frequently due to the dynamic nature of the risk management and hedge accounting strategy. The Barclays Bank
Group applies hedge accounting to dynamic scenarios, predominantly in relation to interest rate risk, with a combination of
hedged items in order for its financial statements to reflect as closely as possible the economic risk management
undertaken. In some cases, if the hedge accounting objective changes, the relevant hedge accounting relationship is de-
designated and is replaced with a different hedge accounting relationship.
Changes in the GBP value of net investments due to foreign currency movements are captured in the currency translation
reserve, resulting in a movement in CET 1 capital.\u00a0The Barclays Bank Group mitigates this by matching the CET1 capital
movements to the revaluation of the foreign currency RWA exposures.\u00a0Net investment hedges are designated where
necessary to reduce the exposure to movement in a particular exchange rate to within limits mandated by Risk.\u00a0As far as
possible, existing external currency liabilities are designated as the hedging instruments.
The hedging instruments share the same risk exposures as the hedged items. Hedge effectiveness is determined with
reference to quantitative tests, predominantly regression testing, but to the extent hedging instruments are exposed to
different risks than the hedged items, this could result in hedge ineffectiveness or hedge accounting failures.
Sources of ineffectiveness include the following:
\u25aa Mismatches between the contractual terms of the hedged item and hedging instrument, including basis differences
\u25aa Changes in credit risk of the hedging instruments
\u25aa If a hedging relationship becomes over-hedged, for example in hedges of net investments if the net asset value designated
at the start of the period falls below the amount of the hedging instrument
\u25aa Cash flow hedges using external swaps with non-zero fair values
Hedged items in fair value hedges
Barclays Bank Group
Accumulated fair value
adjustment included in carrying
amount
Carrying
amount
Total
Of which:
Accumulated
fair value
adjustment on
items no longer
in a hedge
relationship
Change in fair
value used as a
basis to
determine
ineffectiveness
Hedge
ineffectiveness
recognised in
the income
statement1
Hedged item statement of financial position
classification and risk category
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
2025
Assets
Loans and advances at amortised cost
- Interest rate risk
698
(155)
1
4
(1)
- Inflation risk
280
188
79
(9)
\u2014
Debt securities classified as amortised cost
- Interest rate risk
11,388
27
(1)
100
32
- Inflation risk
8,127
(1,332)
1
(9)
16
Financial assets at fair value through other
comprehensive income2
- Interest rate risk
27,807
(1,378)
(429)
(163)
127
- Inflation risk
1,324
(62)
(20)
(5)
(13)
Total Assets
49,624
(2,712)
(369)
(82)
161
Liabilities
Debt securities in issue
- Interest rate risk
(1,333)
1
(31)
5
1
Subordinated liabilities
- Interest rate risk
(38,611)
1,576
1,006
(514)
(22)
Deposits at amortised cost from banks and
customers
- Interest rate risk
(12,916)
(14)
(1)
(2)
3
Total Liabilities
(52,860)
1,563
974
(511)
(18)
Total Hedged Items
(3,236)
(1,149)
605
(593)
143
Hedged items in fair value hedges
Barclays Bank Group
Accumulated fair value
adjustment included in carrying
amount
Carrying
amount
Total
Of which:
Accumulated
fair value
adjustment on
items no longer
in a hedge
relationship
Change in fair
value used as a
basis to
determine
ineffectiveness
Hedge
ineffectiveness
recognised in
the income
statement1
Hedged item statement of financial position
classification and risk category
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
2024
Assets
Loans and advances at amortised cost
- Interest rate risk
711
(160)
(1)
(18)
4
- Inflation risk
318
219
102
(18)
7
Debt securities classified as amortised cost
- Interest rate risk
7,673
(44)
8
50
66
- Inflation risk
8,348
(1,342)
2
(598)
(29)
Financial assets at fair value through other
comprehensive income2
- Interest rate risk
29,514
(1,162)
(452)
(132)
176
- Inflation risk
2,979
(96)
(31)
(59)
(22)
Total Assets
49,543
(2,585)
(372)
(775)
202
Liabilities
Debt securities in issue
- Interest rate risk
(1,417)
8
(24)
(18)
2
Subordinated liabilities
- Interest rate risk
(37,531)
2,257
1,182
398
(8)
Deposits at amortised cost from banks and
customers
- Interest rate risk
(8,596)
(12)
(1)
(4)
(2)
Total Liabilities
(47,544)
2,253
1,157
376
(8)
Total Hedged Items
1,999
(332)
785
(399)
194
Notes
1Hedge ineffectiveness is recognised in net interest income.
2For items classified as fair value through other comprehensive income, the hedge accounting adjustment is not included in the carrying amount,
but rather adjusts other comprehensive income.
Amount, timing and uncertainty of future cash flows
The following table shows the fair value hedging instruments which are carried on the balance sheet:
Barclays Bank Group
Carrying value
Nominal
amount
Change in fair value
used as a basis to
determine
ineffectiveness
Derivative
assets
Derivative
liabilities
Loan liabilities
Hedge type
Risk category
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Fair value
Interest rate risk
2
(3)
\u2014
95,612
710
Inflation risk
73
(514)
\u2014
12,481
26
Total
75
(517)
\u2014
108,093
736
As at 31 December 2024
Fair value
Interest rate risk
26
(16)
\u2014
89,602
(38)
Inflation risk
121
(306)
\u2014
14,220
631
Total
147
(322)
\u2014
103,822
593
The following table profiles the expected notional values of current hedging instruments for fair value hedging in future
years:
2025
2026
2027
2028
2029
2030
2031 and
later
As at 31 December 2025
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Bank Group
Fair value hedges of:
Interest rate risk (outstanding notional amount)
95,612
76,744
65,798
61,019
53,609
40,763
32,092
Inflation risk (outstanding notional amount)
12,481
11,728
10,965
9,494
8,850
7,821
7,076
For Barclays Bank Group, there are 1,023 (2024: 946) interest rate risk fair value hedges with an average fixed rate of 2.7%
(2024: 2.6%) across the relationships and 87 (2024 : 105) inflation risk fair value hedges with an average rate of 0.3% (2024:
0.2%) across the relationships.
Hedged items in cash flow hedges and hedges of net investments in foreign operations
Barclays Bank Group
Change in
value of
hedged item
used as the
basis for
recognising
ineffectiveness
Balance in
cash flow
hedging
reserve for
continuing
hedges
Balance in
currency
translation
reserve for
continuing
hedges
Balances
remaining
in cash
flow
hedging
reserve for
which
hedge
accounting
is no
longer
applied
Balances
remaining
in currency
translation
reserve for
which
hedge
accounting
is no
longer
applied
Hedging gains
or losses
recognised in
other
comprehensive
income
Hedge
ineffectiveness
recognised in
the income
statement1
Description of hedge relationship
and hedged risk
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
2025
Assets
Cash flow hedge of:
Interest rate risk
Loans and advances at amortised
cost
(336)
(92)
\u2014
918
\u2014
(336)
6
Cash and balances at Central Banks
(553)
(149)
\u2014
604
\u2014
(553)
(19)
Foreign exchange risk
Loans and advances at amortised
cost
(1,637)
120
\u2014
\u2014
\u2014
(1,637)
17
Inflation risk
Debt securities classified at
amortised cost
(113)
(143)
\u2014
(21)
\u2014
(113)
8
Liabilities
Cash flow hedge of:
Foreign exchange risk
Subordinated Liabilities
9
16
\u2014
\u2014
\u2014
9
\u2014
Total cash flow hedges
(2,630)
(248)
\u2014
1,501
\u2014
(2,630)
12
Hedge of net investment in foreign
operations
USD foreign operations
(484)
\u2014
1,151
\u2014
\u2014
(484)
\u2014
EUR foreign operations
146
\u2014
100
\u2014
\u2014
146
\u2014
Other foreign operations
(161)
\u2014
(103)
\u2014
60
(161)
\u2014
Total foreign operations
(499)
\u2014
1,148
\u2014
60
(499)
\u2014
2024
Assets
Cash flow hedge of:
Interest rate risk
Loans and advances at amortised
cost
438
182
\u2014
1,552
\u2014
438
(8)
Cash and balances at Central Banks
495
123
\u2014
1,495
\u2014
495
22
Foreign exchange risk
Loans and advances at amortised
cost
300
106
\u2014
\u2014
\u2014
300
5
Inflation risk
Debt securities classified at
amortised cost
118
(73)
\u2014
25
\u2014
118
\u2014
Liabilities
Cash flow hedge of:
Foreign exchange risk
Subordinated Liabilities
18
(9)
\u2014
\u2014
\u2014
18
\u2014
Total cash flow hedges
1,369
329
\u2014
3,072
\u2014
1,369
19
Hedge of net investment in foreign
operations
USD foreign operations
136
\u2014
1,449
\u2014
\u2014
136
\u2014
EUR foreign operations
(109)
\u2014
(26)
\u2014
\u2014
(109)
\u2014
Other foreign operations
(17)
\u2014
34
\u2014
96
(17)
\u2014
Total foreign operations
10
\u2014
1,457
\u2014
96
10
\u2014
Note
1Hedge ineffectiveness is recognised in net interest income.
The following table shows the cash flow and net investment hedging instruments which are carried on the balance sheet:
Barclays Bank Group
Carrying value
Nominal
amount
Change in fair value
used as a basis to
determine
ineffectiveness
Derivative
assets
Derivative
liabilities
Loan liabilities
Hedge type
Risk category
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Cash flow
Interest rate risk
\u2014
\u2014
\u2014
94,727
876
Foreign exchange risk
1,677
(39)
\u2014
26,048
1,645
Inflation risk
\u2014
\u2014
\u2014
6,372
121
Total
1,677
(39)
\u2014
127,147
2,642
Net investment
Foreign exchange risk
155
(43)
(6,109)
10,428
499
As at 31 December 2024
Cash flow
Interest rate risk
\u2014
\u2014
\u2014
80,382
(919)
Foreign exchange risk
611
(307)
\u2014
26,564
(313)
Inflation risk
\u2014
\u2014
\u2014
6,377
(118)
Total
611
(307)
\u2014
113,323
(1,350)
Net investment
Foreign exchange risk
36
(66)
(7,588)
11,601
(10)
For Barclays Bank Group and Barclays Bank PLC there is 1 (2024: 2) foreign exchange risk cash flow hedge\u00a0 with an average
foreign exchange rate of JPY 162.56: GBP 1 ( 2024: JPY 149.87: GBP 1), 11 ( 2024: 11) with an average foreign exchange rate
of USD 1.26: GBP 1 (2024: 1.27) and 12 (2024: 9) with an average foreign exchange rate of AUD 1.98: GBP 1 (2024: 1.94).
The effect on the income statement and other comprehensive income of recycling amounts in respect of cash flow hedges
and net investment hedges of foreign operations is set out in the following table:
Barclays Bank Group
2025
2024
Amount recycled
from other
comprehensive
income due to
hedged item
affecting income
statement
Amount recycled
from other
comprehensive
income due to sale
of investment, or
cash flows no
longer expected to
occur
Amount recycled
from other
comprehensive
income due to
hedged item
affecting income
statement
Amount recycled
from other
comprehensive
income due to sale
of investment, or
cash flows no
longer expected to
occur
Description of hedge relationship and hedged risk
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Cash flow hedge of interest rate risk
Recycled to net interest income
(1,162)
(1)
(1,697)
(2)
Cash flow hedge of foreign exchange risk
Recycled to net trading income
1,669
\u2014
(251)
\u2014
Hedge of net investment in foreign operations
Recycled to other income
\u2014
(34)
\u2014
(1)
A detailed reconciliation of the movements of the cash flow hedging reserve and the currency translation reserve is as
follows:
Barclays Bank Group
2025
2024
Cash flow
hedging reserve
Currency
translation
reserve
Cash flow
hedging reserve
Currency
translation
reserve
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Balance on 1 January
(2,448)
3,690
(2,895)
3,783
Currency translation movements
24
(1,640)
20
(194)
Hedging (losses)/gains for the year
2,630
499
(1,369)
50
Amounts reclassified in relation to cash flows affecting profit or loss
(506)
34
1,950
1
Tax
(607)
(49)
(154)
50
Balance on 31 December
(907)
2,534
(2,448)
3,690
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-568": { "value": "
Accounting for derivatives
Derivative instruments are contracts whose value is derived from one or more underlying financial instruments or indices
defined in the contract. They include swaps, forward-rate agreements, futures, options and combinations of these
instruments and primarily affect the Barclays Bank Group\u2019s net interest income, net trading income and derivative assets and
liabilities. Notional amounts of the contracts are not recorded on the balance sheet. Derivatives are used to hedge interest
rate, credit risk, inflation risk, exchange rate, commodity, equity exposures and exposures to certain indices such as house
price indices and retail price indices related to non-trading positions.
All derivative instruments are held at fair value through profit or loss, except for derivatives that are in a designated cash
flow or net investment hedge accounting relationship. Derivatives are classified as assets when their fair value is positive or
as liabilities when their fair value is negative.
Hedge accounting
The Barclays Bank Group applies the requirements of IAS 39 Financial Instruments: Recognition and Measurement for hedge
accounting purposes. The Barclays Bank Group applies hedge accounting to represent the economic effects of its interest
rate, currency and contractually linked inflation risk management strategies. Where derivatives are held for risk management
purposes, and when transactions meet the required criteria for documentation and hedge effectiveness, the Barclays Bank
Group applies fair value hedge accounting, cash flow hedge accounting, or hedging of a net investment in a foreign
operation, as appropriate to the risks being hedged.
Fair value hedge accounting
Changes in fair value of derivatives that qualify and are designated as fair value hedges are recorded in the income
statement, together with changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The
fair value changes adjust the carrying value of the hedged asset or liability held at amortised cost.For hedged items classified
as fair value through other comprehensive income, fair value movements attributable to the hedged risk are transferred from
other comprehensive income to the income statement.
If hedge relationships no longer meet the criteria for hedge accounting, hedge accounting is discontinued. For fair value
hedges of interest rate risk, the fair value adjustment to the hedged item is amortised to the income statement over the
period to maturity of the previously designated hedge relationship using the effective interest method. If the hedged item is
sold or repaid, the unamortised fair value adjustment is recognised immediately in the income statement.
Cash flow hedge accounting
For qualifying cash flow hedges, the fair value gain or loss associated with the effective portion of the cash flow hedge is
recognised initially in other comprehensive income, and then recycled to the income statement in the periods when the
hedged item will affect profit or loss. Any ineffective portion of the gain or loss on the hedging instrument is recognised in
the income statement immediately.
When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any
cumulative gain or loss existing in equity at that time remains in equity and is recognised when the hedged item is ultimately
recognised in the income statement. When a forecast transaction is no longer expected to occur, the cumulative gain or loss
that was recognised in equity is immediately transferred to the income statement.
Hedges of net investments
The Barclays Bank Group\u2019s net investments in foreign operations, including monetary items accounted for as part of the net
investment, are hedged for foreign currency risks using both derivatives and foreign currency borrowings. Hedges of net
investments are accounted for similarly to cash flow hedges; the effective portion of the gain or loss on the hedging
instrument is being recognised directly in other comprehensive income and the ineffective portion being recognised
immediately in the income statement. The cumulative gain or loss recognised in other comprehensive income is recognised
in the income statement on the disposal or partial disposal of the foreign operation, or other reductions in the Barclays Bank
Group\u2019s investment in the operation.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-569": { "value": "
Accounting for derivatives
Derivative instruments are contracts whose value is derived from one or more underlying financial instruments or indices
defined in the contract. They include swaps, forward-rate agreements, futures, options and combinations of these
instruments and primarily affect the Barclays Bank Group\u2019s net interest income, net trading income and derivative assets and
liabilities. Notional amounts of the contracts are not recorded on the balance sheet. Derivatives are used to hedge interest
rate, credit risk, inflation risk, exchange rate, commodity, equity exposures and exposures to certain indices such as house
price indices and retail price indices related to non-trading positions.
All derivative instruments are held at fair value through profit or loss, except for derivatives that are in a designated cash
flow or net investment hedge accounting relationship. Derivatives are classified as assets when their fair value is positive or
as liabilities when their fair value is negative.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-570": { "value": "
Hedge accounting
The Barclays Bank Group applies the requirements of IAS 39 Financial Instruments: Recognition and Measurement for hedge
accounting purposes. The Barclays Bank Group applies hedge accounting to represent the economic effects of its interest
rate, currency and contractually linked inflation risk management strategies. Where derivatives are held for risk management
purposes, and when transactions meet the required criteria for documentation and hedge effectiveness, the Barclays Bank
Group applies fair value hedge accounting, cash flow hedge accounting, or hedging of a net investment in a foreign
operation, as appropriate to the risks being hedged.
Fair value hedge accounting
Changes in fair value of derivatives that qualify and are designated as fair value hedges are recorded in the income
statement, together with changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The
fair value changes adjust the carrying value of the hedged asset or liability held at amortised cost.For hedged items classified
as fair value through other comprehensive income, fair value movements attributable to the hedged risk are transferred from
other comprehensive income to the income statement.
If hedge relationships no longer meet the criteria for hedge accounting, hedge accounting is discontinued. For fair value
hedges of interest rate risk, the fair value adjustment to the hedged item is amortised to the income statement over the
period to maturity of the previously designated hedge relationship using the effective interest method. If the hedged item is
sold or repaid, the unamortised fair value adjustment is recognised immediately in the income statement.
Cash flow hedge accounting
For qualifying cash flow hedges, the fair value gain or loss associated with the effective portion of the cash flow hedge is
recognised initially in other comprehensive income, and then recycled to the income statement in the periods when the
hedged item will affect profit or loss. Any ineffective portion of the gain or loss on the hedging instrument is recognised in
the income statement immediately.
When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any
cumulative gain or loss existing in equity at that time remains in equity and is recognised when the hedged item is ultimately
recognised in the income statement. When a forecast transaction is no longer expected to occur, the cumulative gain or loss
that was recognised in equity is immediately transferred to the income statement.
Hedges of net investments
The Barclays Bank Group\u2019s net investments in foreign operations, including monetary items accounted for as part of the net
investment, are hedged for foreign currency risks using both derivatives and foreign currency borrowings. Hedges of net
investments are accounted for similarly to cash flow hedges; the effective portion of the gain or loss on the hedging
instrument is being recognised directly in other comprehensive income and the ineffective portion being recognised
immediately in the income statement. The cumulative gain or loss recognised in other comprehensive income is recognised
in the income statement on the disposal or partial disposal of the foreign operation, or other reductions in the Barclays Bank
Group\u2019s investment in the operation.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-571": { "value": "Fair value of financial instruments
Accounting for financial assets and liabilities \u2013 fair value
Financial instruments that are held for trading are recognised at fair value through profit or loss. In addition, financial assets
are held at fair value through profit or loss if they do not contain contractual terms that give rise on specified dates to cash
flows that are SPPI, or if the financial asset is not held in a business model that is either (i) a business model to collect the
contractual cash flows or (ii) a business model that is achieved by both collecting contractual cash flows and selling.
Subsequent changes in fair value for these instruments are recognised in the income statement in net investment income,
except if reporting it in trading income reduces an accounting mismatch.
Wherever possible, fair value is determined by reference to a quoted market price for that instrument. For many of the
Barclays Bank Group\u2019s financial assets and liabilities, including derivatives, quoted prices are not available and valuation
models are used to estimate fair value. The models calculate the expected cash flows under the terms of each specific
contract and then discount these values back to a present value. These models use as their basis independently sourced
market inputs including, for example, interest rate yield curves, equities and commodities prices, option volatilities and
currency rates.
For financial liabilities measured at fair value, the carrying amount also reflects the effect on fair value of changes in own
credit spreads derived from observable market data such as in primary issuance and redemption activity for structured
notes.
The Barclays Bank Group uses the portfolio exemption in IFRS 13 Fair Value Measurement to measure the fair value of
groups of financial assets and liabilities. Financial instruments are measured using the price that would be received to sell a
net long position (i.e. an asset) for a particular risk exposure or to transfer a net short position (i.e. a liability) for a particular
risk exposure in an orderly transaction between market participants at the balance sheet date under current market
conditions. Accordingly, Barclays Bank Group measures the fair value of the group of financial assets and liabilities
consistently with how market participants would price the net risk exposure at the measurement date.
On initial recognition, the transaction price often reflects the fair value of the asset or liability.\u00a0 However, in some
circumstances, fair value may differ to the transaction price when there is information to the contrary. If the fair value of the
instrument is observable from current market transactions in the same instrument, or based on a valuation technique whose
inputs only include observable inputs, then the instrument is initially recognised at fair value and the difference to the
transaction price is recognised in profit or loss.
For valuations that have made use of unobservable inputs, the difference between the model valuation and the initial
transaction price (day one profit) is recognised in profit or loss either: on a straight-line basis over the term of the
transaction; or over the period until all inputs will become observable where appropriate; or released in full when previously
unobservable inputs become observable.
Various factors influence the availability of observable inputs, and these may vary from product to product and change over
time. Factors include the depth of activity in the relevant market, the type of product, whether the product is new and not
widely traded in the marketplace, the maturity of market modelling and the nature of the transaction (bespoke or generic).
To the extent that valuation is based on models or inputs that are not observable in the market, the determination of fair
value can be more subjective, dependent on the significance of the unobservable input to the overall valuation.
Unobservable inputs are determined based on the best information available, for example by reference to similar assets,
similar maturities, or other analytical techniques.
The sensitivity of valuations used in the financial statements to possible changes in significant unobservable inputs is shown
on page 346.
Valuation Control Framework
The Barclays Group has an established valuation control framework that oversees valuation methodologies, standards and
procedures.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Classification of financial instruments with significant unobservable
inputs as Level 3.
Valuation of Level 3 assets and liabilities are typically determined by
referencing observable inputs, historical data, or employing other
analytical techniques.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
financial assets and financial liabilities measured at fair value within the next financial year.
The valuation of financial instruments often involves a significant degree of judgement and complexity, in particular where
valuation models make use of unobservable inputs (\u2018Level 3\u2019 assets and liabilities). This note provides information on these
instruments, including the related unrealised gains and losses recognised in the period, a description of significant valuation
techniques and unobservable inputs, and a sensitivity analysis.
For assets and liabilities traded in active markets, it is determined that the market valuation includes a representation of the
prevailing view of climate-related risks. Within less active markets, for counterparties and instruments identified as being
more susceptible to climate change risk, an impact assessment was performed through increasing their probability of
default. The change in valuation of the assets and liabilities from this assessment was sufficiently immaterial to necessitate
any amendment to the reported 2025 year-end valuations.
Valuation
Assets and liabilities are classified according to a hierarchy that reflects the observability of significant market inputs. The
three levels of the fair value hierarchy are defined below with judgement applied in determining the boundary between Level
2 and 3 classifications.
Valuation techniques using quoted market prices \u2013 Level 1
Assets and liabilities are classified as Level 1 if their value is observable in an active market. Such instruments are valued by
reference to unadjusted quoted prices for identical assets or liabilities in active markets where the quoted price is readily
available, and the price represents actual and regularly occurring market transactions. An active market is one in which
transactions occur with sufficient volume and frequency to provide pricing information on an ongoing basis.
Valuation techniques using observable inputs \u2013 Level 2
Assets and liabilities classified as Level 2 have been valued using models whose inputs are observable either directly or
indirectly. A valuation input is considered observable if it can be directly observed from transactions in an active market, or if
there is compelling external evidence demonstrating an executable exit price. Valuations based on observable inputs include
assets and liabilities such as swaps and forwards which are valued using market standard pricing techniques, and options
that are commonly traded in markets where all the inputs to the market standard pricing models are observable. For certain
instruments that derive a fair value using unobservable inputs that are not considered significant, then the asset or liability
may be classified as Level 2.
Valuation techniques using significant unobservable inputs \u2013 Level 3
Assets and liabilities are classified as Level 3 if their valuation incorporates significant inputs that are not based on
observable market data (unobservable inputs). Unobservable input levels are generally determined via reference to
observable inputs, historical observations or using other analytical techniques.
The following table shows assets and liabilities that are held at fair value disaggregated by the fair value hierarchy and
balance sheet classification:
Assets and liabilities held at fair value
2025
2024
Valuation techniques used
Valuation techniques used
Quoted
market
price
Observable
inputs
Significant
unobservable
inputs
Quoted
market
price
Observable
inputs
Significant
unobservable
inputs
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio assets
110,773
68,623
10,347
189,743
77,581
78,548
10,115
166,244
Financial assets at fair value through the
income statement
5,015
173,801
6,186
185,002
3,463
182,391
5,991
191,845
Derivative financial assets
108
250,374
1,710
252,192
101
290,182
2,073
292,356
Financial assets at fair value through other
comprehensive income
31,640
8,110
3,068
42,818
19,021
28,315
3,674
51,010
Investment property
\u2014
\u2014
43
43
\u2014
\u2014
9
9
Total assets
147,536
500,908
21,354
669,798
100,166
579,436
21,862
701,464
Trading portfolio liabilities
(42,009)
(14,733)
(87)
(56,829)
(27,033)
(28,754)
(395)
(56,182)
Financial liabilities designated at fair value
(1,702)
(286,972)
(4,853)
(293,527)
(181)
(276,355)
(3,241)
(279,777)
Derivative financial liabilities
(93)
(237,599)
(3,065)
(240,757)
(86)
(276,064)
(3,181)
(279,331)
Total liabilities
(43,804)
(539,304)
(8,005)
(591,113)
(27,300)
(581,173)
(6,817)
(615,290)
The following table shows Barclays Bank Group\u2019s Level 3 assets and liabilities that are held at fair value disaggregated by product
type. Product type is broadly similar for Barclays Bank PLC.
As at 31 December
2025
Loans
Corporate
debt
Asset
backed
securities
Government
and
Government
sponsored
debt
Private
equity
invest-
ments
Issued
debt
Reverse
repurchase
and
repurchase
agreements
Interest
rate
derivatives
Equity
derivatives
Other
products 1
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio
assets
5,667
1,849
874
1,513
\u2014
\u2014
\u2014
\u2014
\u2014
444
10,347
Financial assets at fair
value through the
income statement
4,620
905
188
33
268
\u2014
97
\u2014
\u2014
75
6,186
Derivative financial
assets
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
759
520
431
1,710
Financial assets at fair
value through other
comprehensive
income
2,235
25
756
52
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
3,068
Investment property
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
43
43
Total assets
12,522
2,779
1,818
1,598
268
\u2014
97
759
520
993
21,354
Trading portfolio
liabilities
\u2014
(36)
\u2014
(34)
\u2014
\u2014
\u2014
\u2014
\u2014
(17)
(87)
Financial liabilities
designated at fair
value
\u2014
\u2014
\u2014
\u2014
\u2014
(3,760)
(887)
\u2014
\u2014
(206)
(4,853)
Derivative financial
liabilities
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
(612)
(1,602)
(851)
(3,065)
Total liabilities
\u2014
(36)
\u2014
(34)
\u2014
(3,760)
(887)
(612)
(1,602)
(1,074)
(8,005)
As at 31 December
2024
Loans
Corporate
debt
Asset
backed
securities
Government
and
Government
sponsored
debt
Private
equity
invest-
ments
Issued
debt
Reverse
repurchase
and
repurchase
agreements
Interest
rate
derivatives
Equity
derivatives
Other
products 1
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio
assets
6,146
1,590
991
1,018
\u2014
\u2014
\u2014
\u2014
\u2014
370
10,115
Financial assets at fair
value through the
income statement
3,991
913
139
35
219
\u2014
539
\u2014
\u2014
155
5,991
Derivative financial
assets
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1,193
477
403
2,073
Financial assets at fair
value through other
comprehensive
income
2,858
47
757
12
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
3,674
Investment property
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9
9
Total assets
12,995
2,550
1,887
1,065
219
\u2014
539
1,193
477
937
21,862
Trading portfolio
liabilities
\u2014
(374)
(6)
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
(15)
(395)
Financial liabilities
designated at fair
value
\u2014
\u2014
\u2014
\u2014
\u2014
(1,842)
(1,379)
\u2014
\u2014
(20)
(3,241)
Derivative financial
liabilities
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
(1,013)
(1,219)
(949)
(3,181)
Total liabilities
\u2014
(374)
(6)
\u2014
\u2014
(1,842)
(1,379)
(1,013)
(1,219)
(984)
(6,817)
Note
1 Other products include certificate of deposits, funds and fund-linked products, equity cash products, investment property, credit derivatives and foreign
exchange derivatives.
Valuation techniques
The valuation techniques and observability used are described below.
Loans
Description: A drawn lending facility issued to corporate clients and customers.
Also includes Prime Brokerage Margin lending, and other similar secured lending agreements. The agreements are primarily short-
term in nature.
Valuation: Loans are valued either using a price-based approach, or through models that discount expected future cash flows based
on interest rates and loan spreads.
Prime Brokerage Margin Lending transactions are generally valued by discounting the expected future cash flows, using industry
standard models that incorporate market interest rates and repurchase rates, based on the specific details of the transaction.
Observability: Within this loan population, the price or loan spread may be generally unobservable.\u00a0
For Margin Lending inputs are deemed observable up to liquid maturities, and are determined based on the specific features of the
transaction. Unobservable inputs are generally set by referencing liquid market instruments and applying extrapolation techniques,
or inferred via another reasonable method.
Corporate debt
Description: Primarily corporate bonds.
Valuation: Corporate bonds are valued using observable market prices sourced from broker quotes, inter-dealer prices or other
reliable pricing sources.
Observability: Prices for actively traded bonds are considered observable. Unobservable bond prices are generally determined by
reference to bond yields or credit default swap (CDS) spreads for actively traded instruments issued by or referencing the same (or
a similar) issuer.
Asset backed securities
Description: Securities that are linked to the cash flows of a pool of referenced assets via securitisation. The category includes
residential mortgage backed securities, commercial mortgage backed securities, collateralised debt obligations (CDOs),
collateralised loan obligations (CLOs) and other asset backed securities.
Valuation: Where available, valuations are based on observable market prices sourced from broker quotes and inter-dealer prices
and external vendors who provide pricing. Otherwise, valuations are determined using industry standard discounted cash flow
analysis that calculates the fair value based on valuation inputs such as constant default rate, conditional prepayment rate, loss
given default and yield. These inputs are determined by reference to a number of sources including proxying to observed
transactions, market indices or market research, and by assessing underlying collateral performance.
Proxying to observed transactions, indices or research requires an assessment and comparison of the relevant securities\u2019 underlying
attributes including collateral, tranche, vintage, underlying asset composition (historical losses, borrower characteristics and loan
attributes such as loan to value ratio and geographic concentration) and credit ratings (original and current).
Observability: Where an asset backed product does not have an observable market price and the valuation is determined using a
discounted cash flow analysis, the instrument is considered unobservable.
Government and Government sponsored debt
Description: Government bonds, supra sovereign bonds and agency bonds.
Valuation: Liquid bonds that are actively traded through an exchange or clearing house are marked to the levels observed in these
markets. Other actively traded bonds are valued using observable market prices sourced from broker quotes, inter-dealer prices or
other reliable pricing sources.
Observability: Observability assessment is performed with reference to bond market trading data. Bonds are assessed at Level 1 if
they are traded in active market with a quoted price in line with requirements of IFRS 13. Unobservable bonds prices are generally
determined by reference to bond yields for actively traded bonds from the same (or a similar) issuer.
Private equity investments
Description: Includes investments in equity holdings in operating companies not quoted on a public exchange.
Valuation: Private equity investments are valued in accordance with the \u2018International Private Equity and Venture Capital Valuation
Guidelines\u2019 which require the use of a number of individual pricing benchmarks such as the prices of recent transactions in the
same or similar entities, discounted cash flow analysis and comparison with the earnings or revenue multiples of listed companies.
While the valuation of unquoted equity instruments is subjective by nature, the relevant methodologies are commonly applied by
other market participants and have been consistently applied over time.
Observability: Inputs are considered observable if there is active trading in a liquid market of products with significant sensitivity to
the inputs. Unobservable inputs include earnings or revenue estimates, multiples of comparative companies, marketability
discounts and discount rates.
Issued debt
Description: Debt notes issued by Barclays.
Valuation: Issued debt is valued using discounted cash flow techniques incorporating various inputs observed for each instrument.
Observability: Barclays issued notes are generally observable. Structured notes are debt instruments containing embedded
derivatives. Where either an input to the embedded derivative or the debt instrument is deemed unobservable and significant to the
overall valuation of the note, the structured note is classified as Level 3.
Reverse repurchase and repurchase agreements
Description: Includes securities purchased under resale agreements, securities sold under repurchase agreements, and other similar
secured lending agreements. The agreements are primarily short-term in nature.
Valuation: Repurchase and reverse repurchase agreements are generally valued by discounting the expected future cash flows
using industry standard models that incorporate market interest rates and repurchase rates, based on the specific details of the
transaction.
Observability: Inputs are deemed observable up to liquid maturities or for consensus pricing with low pricing-range and are
determined based on the specific features of the transaction. Unobservable inputs are generally set by referencing liquid market
instruments and applying extrapolation techniques or inferred via another reasonable method.
Interest rate derivatives
Description: Derivatives linked to interest rates or inflation indices. The category includes futures, interest rate and inflation swaps,
swaptions, caps, floors, inflation options and other exotic interest rate derivatives.
Valuation: Interest rate and inflation derivatives are generally valued using curves of forward rates constructed from market data to
project and discount the expected future cash flows of trades. Instruments with optionality are valued using volatilities implied from
market inputs and use industry standard or bespoke models depending on the product type.
Observability: In general, inputs are considered observable up to liquid maturities which are determined separately for each input
and underlying. Unobservable inputs are generally set by referencing liquid market instruments and applying extrapolation
techniques or inferred via another reasonable method.
Equity derivatives
Description: Exchange traded or OTC derivatives linked to equity indices and single names. The category includes vanilla and exotic
equity products.
Valuation: Equity derivatives are valued using industry standard models. Valuation inputs include stock prices, dividends, volatilities,
interest rates, equity repurchase curves and, for multi-asset products, correlations.
Observability: In general, valuation inputs are observable up to liquid maturities which are determined separately for each input and
underlying. Unobservable inputs are set by referencing liquid market instruments and applying extrapolation techniques or inferred
via another reasonable method.
Foreign exchange derivatives
Description: Derivatives linked to the foreign exchange (FX) market. The category includes FX forward contracts, FX swaps and FX
options. The majority are traded as over the counter (OTC) derivatives.
Valuation: FX derivatives are valued using industry standard and bespoke models depending on the product type. Valuation inputs
include FX rates, interest rates, FX volatilities, interest rate volatilities, FX interest rate correlations and others as appropriate.
Observability: FX correlations, forwards and volatilities are generally observable up to liquid maturities which are determined
separately for each input and underlying.
Unobservable inputs are set by referencing liquid market instruments and applying extrapolation techniques, or inferred via another
reasonable method.
Credit derivatives
Description: Derivatives linked to the credit spread of a referenced entity, index or basket of referenced entities or a pool of
referenced assets (e.g. a securitised product). The category includes single name and index credit default swaps (CDS) and total
return swaps (TRS).
Valuation: Credit derivatives are valued on industry standard models using curves of credit spreads as the principal input. Credit
spreads are observed directly from broker data, third party vendors or priced to proxies.
Observability: Credit derivative contracts referencing entities that are actively traded are generally considered observable. Other
valuation inputs are considered observable if products with significant sensitivity to the inputs are actively traded in a liquid market.
Unobservable valuation inputs are generally determined with reference to recent benchmark transactions or inferred from
observable trades of the same issuer or similar entities.
Assets and liabilities transferred between levels
During the year ended 31 December 2025, there were \u00a333.5bn assets and \u00a3(9.8)bn liabilities transferred from Level 2 to Level 1 for
the Barclays Bank Group (year ended 31 December 2024: there were no material transfers). Additionally, there were \u00a30.7bn assets
and \u00a3(2.8)bn liabilities transferred from Level 2 to Level 3 (year ended 31 December 2024: there were no material transfers). These
transfers reflect enhancement to the Bank\u2019s levelling policy, including the use of additional data in the active market assessment of
Level 1 government bonds and updated assessments of unobservable market parameters for government bonds and issued debt;
resulting in an increase in Level 3 balances.
For Barclays Bank PLC, the impact of enhancement were \u00a324.9bn assets and \u00a3(1.9)bn liabilities transferred from level 2 to level 1
and \u00a30.5bn assets and \u00a3(2.6)bn liabilities transferred from level 2 to level 3 (year ended 31 December 2024: there were no material
transfers).
Level 3 movement analysis
The following table summarises the movements in the Level 3 balances during the year. Transfers have been reflected as if they had
taken place at the beginning of the year.
Asset and liability transfers between Level 2 and Level 3 are primarily due to i) an increase or decrease in observable market activity
related to an input or ii) a change in the significance of the unobservable input, with assets and liabilities classified as Level 3 if an
unobservable input is deemed significant.
Analysis of movements in Level 3 assets and liabilities
As at 1
January
2025
Total gains and
(losses) in the
period recognised
in the income
statement
Total gains
and
(losses) in
the period
recognised
in OCI
Transfers
As at 31
Dec 2025
Purchases
Sales
Issues
Settlements
Trading
income 2
Other
income
In
Out
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio assets
10,115
5,810
(4,157)
\u2014
(1,554)
151
\u2014
\u2014
382
(400)
10,347
Financial assets at fair value
through the income statement
5,991
2,705
(1,156)
\u2014
(1,232)
14
(22)
\u2014
59
(173)
6,186
Financial assets at fair value
through other comprehensive
income
3,674
895
(591)
\u2014
(1,030)
4
(2)
\u2014
118
\u2014
3,068
Investment property
9
34
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
43
Trading portfolio liabilities
(395)
(55)
25
\u2014
352
2
\u2014
\u2014
(28)
12
(87)
Financial liabilities designated at
fair value
(3,241)
\u2014
29
(503)
1,020
43
\u2014
\u2014
(2,954)
753
(4,853)
Net derivative financial
instruments1
(1,108)
(447)
221
\u2014
\u2014
(44)
1
\u2014
3
19
(1,355)
Total
15,045
8,942
(5,629)
(503)
(2,444)
170
(23)
\u2014
(2,420)
211
13,349
Analysis of movements in Level 3 assets and liabilities
As at 1
January
2024
Total gains and
(losses) in the
period recognised
in the income
statement
Total gains
and
(losses) in
the period
recognised
in OCI
Transfers
As at 31 Dec
2024
Purchases
Sales
Issues
Settlements
Trading
income 2
Other
income
In
Out
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio assets
6,509
5,848
(1,817)
\u2014
(865)
(9)
\u2014
\u2014
775
(326)
10,115
Financial assets at fair value
through the income statement
5,368
2,540
(1,524)
\u2014
(582)
\u2014
56
\u2014
206
(73)
5,991
Financial assets at fair value
through other comprehensive
income
776
3,116
(43)
\u2014
\u2014
3
22
\u2014
\u2014
(200)
3,674
Investment property
2
9
(2)
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
9
Trading portfolio liabilities
(368)
(26)
20
\u2014
\u2014
(7)
\u2014
\u2014
(15)
1
(395)
Financial liabilities designated at
fair value
(1,212)
(409)
\u2014
(1,147)
143
(74)
\u2014
\u2014
(892)
350
(3,241)
Net derivative financial
instruments1
(1,113)
(571)
(7)
\u2014
(15)
(66)
\u2014
\u2014
163
501
(1,108)
Total
9,962
10,507
(3,373)
(1,147)
(1,319)
(153)
78
\u2014
237
253
15,045
Notes
1 The derivative financial instruments are represented on a net basis. On a gross basis, derivative financial assets are \u00a31,710m (2024: \u00a32,073m) and derivative
financial liabilities are \u00a3(3,065)m (2024: \u00a3(3,181)m).
2 Trading income represents gains and losses on Level 3 financial instruments which in the majority are offset by losses and gains on financial instruments
disclosed in Level 2.
Unrealised gains and losses on Level 3 assets and liabilities
The following tables disclose the unrealised gains and losses recognised in the year arising on Level 3 assets and liabilities
held at year end.
Unrealised gains and (losses) recognised during the period on Level 3 assets and liabilities held at year end
2025
2024
Income statement
Other
compre-
hensive
income
Income statement
Other
compre-
hensive
income
Trading
income 1
Other
income
Total
Trading
income 1
Other
income
Total
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trading portfolio assets
36
\u2014
\u2014
36
(9)
\u2014
\u2014
(9)
Financial assets at fair value through the income
statement
13
(23)
\u2014
(10)
\u2014
55
\u2014
55
Financial assets at fair value through other
comprehensive income
4
(1)
\u2014
3
3
22
\u2014
25
Investment property
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Trading portfolio liabilities
1
\u2014
\u2014
1
(7)
\u2014
\u2014
(7)
Financial liabilities designated at fair value
43
\u2014
\u2014
43
(77)
\u2014
\u2014
(77)
Net derivative financial instruments
(44)
1
\u2014
(43)
(58)
\u2014
\u2014
(58)
Total
53
(23)
\u2014
30
(148)
77
\u2014
(71)
Note
1 Trading income represents gains and losses on Level 3 financial instruments which in the majority are offset by losses and gains on financial
instruments disclosed in Level 2.
Significant unobservable inputs
The following table discloses the valuation techniques and significant unobservable inputs for material products recognised
at fair value and classified as Level 3 along with the range of values used for those significant unobservable inputs:
Valuation technique(s) 1
Significant unobservable
inputs
2025
2024
Range
Range
Min
Max
Min
Max
Units 2
Derivative financial
instruments 3
Interest rate derivatives
Discounted cash flows
Inflation forwards
n/m4
n/m4
3
3
%
Credit spread
8
2,070
14
1,972
bps
Yield
\u2014
5
\u2014
12
%
Option model
Interest rate volatility
29
152
19
175
bps vol
FX - IR correlation
(36)
30
(36)
30
%
IR - IR correlation
35
98
33
98
%
IR - Inflation correlation
10
10
10
10
%
Inflation - Inflation
correlation
5
5
5
5
%
Equity derivatives
Option model
Equity volatility
1
88
1
133
%
Equity - equity correlation
15
100
40
100
%
Discounted cash flow
Discount margin
(190)
350
(215)
351
bps
Non-derivative financial
instruments
Loans
Discounted cash flows
Loan spread
30
942
35
908
bps
Credit spread
194
420
194
1,011
bps
Discount margin
780
1,170
230
345
bps
Yield
5
8
2
18
%
Comparable pricing
Comparable price
\u2014
186
\u2014
240
points
Private Equity investments
EBITDA multiple
EBITDA multiple
6
17
\u2014
\u2014
Multiple
Asset backed securities
Comparable pricing
Comparable price
\u2014
530
\u2014
125
points
Discounted cash flows
Discount margin
n/m4
n/m4
(137)
(25)
bps
Option Model
Equity volatility
n/m4
n/m4
15
32
%
Corporate debt
Comparable pricing
Comparable price
\u2014
239
\u2014
2,322
points
Government and
Government sponsored
debt
Comparable pricing
Comparable price
\u2014
231
\u2014
123
points
Issued debt
Discounted cash flows
Credit spread
80
120
50
198
bps
Option model
Equity volatility
1
95
1
111
%
Interest rate volatility
37
178
19
211
bps vol
Reverse repurchase and
repurchase agreements
Discounted cash flows
Repo spread
100
148
14
186
bps
Notes
1A range has not been provided for Net Asset Value as there would be a wide range reflecting the diverse nature of the positions.
2The units used to disclose ranges for significant unobservable inputs are percentages, points and basis points. Points are a percentage of par; for
example, 100 points equals 100% of par. A basis point equals 1/100th of 1%; for example, 150 basis points equals 1.5%.
3Certain derivative instruments are classified as Level 3 due to a significant unobservable credit spread input into the calculation of the Credit
Valuation Adjustment for the instruments.
4\u00a0 \u00a0 \u00a0 Non-material Level 3 balances for these unobservable inputs.
The following section describes the significant unobservable inputs identified in the table above, and the sensitivity of fair
value measurement of the instruments categorised as Level 3 assets or liabilities to increases in significant unobservable
inputs. Where sensitivities are described, the inverse relationship will also generally apply.
Where reliable interrelationships can be identified between significant unobservable inputs used in fair value measurement, a
description of those interrelationships is included below.
Forwards
A price or rate that is applicable to a financial transaction that will take place in the future.
In general, a significant increase in a forward in isolation will result in a fair value increase for the contracted receiver of the
underlying (currency, bond, commodity, etc.), but the sensitivity is dependent on the specific terms of the instrument.
Credit spread
Credit spreads typically represent the difference in yield between an instrument and a benchmark security or reference rate.
Credit spreads reflect the additional yield that a market participant demands for taking on exposure to the credit risk of an
instrument and forms part of the yield used in a discounted cash flow calculation.
In general, a significant increase in credit spread in isolation will result in a fair value decrease for a cash asset.
For a derivative instrument, a significant increase in credit spread in isolation can result in a fair value increase or decrease
depending on the specific terms of the instrument.
Volatility
Volatility is a measure of the variability or uncertainty in return for a given derivative underlying. It is an estimate of how
much a particular underlying instrument input or index will change in value over time. In general, volatilities are implied from
observed option prices. For unobservable options the implied volatility may reflect additional assumptions about the nature
of the underlying risk, and the strike/maturity profile of a specific contract.
In general, a significant increase in volatility in isolation will result in a fair value increase for the holder of a simple option,
but the sensitivity is dependent on the specific terms of the instrument.
There may be interrelationships between unobservable volatilities and other unobservable inputs (e.g. when equity prices
fall, implied equity volatilities generally rise) but these are generally specific to individual markets and may vary over time.
Correlation
Correlation is a measure of the relationship between the movements of two variables. Correlation can be a significant input
into valuation of derivative contracts with more than one underlying instrument. Credit correlation generally refers to the
correlation between default processes for the separate names that make up the reference pool of a collateralised debt
obligation (CDO) structure.
A significant increase in correlation in isolation can result in a fair value increase or decrease depending on the specific terms
of the instrument.
Discount Margin
Discount margin represents the additional yield over a benchmark rate that market participants require to compensate for
credit risk, liquidity risk, and other factors associated with the instrument. Commonly used in discounted cash flow
valuations
In general, a significant increase in discount margin in isolation will result in a fair value decrease for the instrument, as
higher required returns reduce present value. The sensitivity depends on the specific terms of the instrument.
Repo Spread
Repo spread refers to the difference between the repurchase agreement rate and a benchmark funding rate. It reflects
market conditions, counterparty credit risk, and liquidity premiums that influence the cost of financing through repos.
In general, a significant increase in repo spread in isolation will result in a fair value decrease for the instrument, as higher
financing costs reduce its attractiveness. The sensitivity is dependent on the specific contractual terms.
Comparable price
Comparable instrument prices are used in valuation by calculating an implied yield (or spread over a liquid benchmark) from
the price of a comparable observable instrument, then adjusting that yield (or spread) to account for relevant differences
such as maturity or credit quality. Alternatively, a price-to-price basis can be assumed between the comparable and
unobservable instruments in order to establish a value.
Loans include a portfolio of loans extended to clients within the Barclays Bank Group\u2019s leveraged finance business.
Leveraged finance loans are originated where Barclays Bank Group provides financing commitments to clients to facilitate
strategic transactions such as leverage buyouts and acquisitions. The sensitivity of the portfolio to unobservable inputs is
judgmental reflecting their illiquid nature and the significance of unobservable price inputs to the valuation.
In general, a significant increase in comparable price in isolation will result in an increase in the price of the unobservable
instrument. For derivatives, a change in the comparable price in isolation can result in a fair value increase or decrease
depending on the specific terms of the instrument.
Loan spread
Loan spreads typically represent the difference in yield between an instrument and a benchmark security or reference rate.
Loan spreads typically reflect credit quality, the level of comparable assets such as gilts and other factors, and form part of
the yield used in a discounted cash flow calculation.
In general, a significant increase in loan spreads in isolation will result in a fair value decrease for a loan.
Sensitivity Analysis
Sensitivity analysis is performed on products with significant unobservable inputs (Level 3) to generate a range of
reasonably possible alternative valuations. The sensitivity methodologies applied take account of the nature of the valuation
techniques used, as well as the availability and reliability of observable proxy and historical data and the impact of using
alternative models.
Sensitivities are calculated on a monthly basis. The calculation is based on range or spread data of a reliable reference source
or a scenario based on relevant market analysis alongside the impact of using alternative models. Sensitivities are calculated
without reflecting the impact of any diversification in the portfolio.
Sensitivity analysis of valuations using unobservable inputs (relates to Level 3 portfolios)
2025
2024
Favourable changes
Unfavourable changes
Favourable changes
Unfavourable changes
Income
statement
Equity
Income
statement
Equity
Income
statement
Equity
Income
statement
Equity
Barclays Bank Group
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a0 Loans
201
21
(297)
(37)
577
43
(742)
(43)
\u00a0 Corporate debt
88
\u2014
(68)
\u2014
87
\u2014
(56)
\u2014
\u00a0 Asset backed securities
51
6
(43)
(6)
57
4
(40)
(4)
\u00a0 Government and Government
sponsored debt
45
\u2014
(41)
\u2014
47
\u2014
(56)
\u2014
\u00a0 Private equity investments
37
\u2014
(37)
\u2014
28
\u2014
(28)
\u2014
\u00a0 Interest rate derivatives
109
\u2014
(134)
\u2014
98
\u2014
(212)
\u2014
\u00a0 Equity derivatives
336
\u2014
(336)
\u2014
199
\u2014
(269)
\u2014
Other products1
105
312
(104)
(89)
91
\u2014
(104)
\u2014
Total
972
339
(1,060)
(132)
1,184
47
(1,507)
(47)
Note
1Other products include issued debt, reverse repurchase and repurchase agreements, certificate of deposits, funds and fund-linked products,
equity cash products, credit derivatives and foreign exchange derivatives.
The effect of stressing unobservable inputs to a range of reasonably possible alternatives, alongside considering the impact
of using alternative models, would be to increase fair values by up to \u00a31,311m (2024: \u00a31,231m) or to decrease fair values by
up to \u00a31,192m (2024: \u00a31,554m) with substantially all the potential effect impacting profit and loss. Unfavourable changes
shown in the table above are partly provided for through the capital and prudential valuation adjustment framework.
Fair value adjustments
Key balance sheet valuation adjustments are quantified below:
2025
2024
Barclays Bank Group
\u00a3m
\u00a3m
Exit price adjustments derived from market bid-offer spreads
(618)
(529)
Uncollateralised derivative funding
62
19
Derivative credit valuation adjustments
(155)
(184)
Derivative debit valuation adjustments
119
108
Exit price adjustments derived from market bid-offer spreads
Barclays Bank Group uses mid-market pricing where it is a market maker and has the ability to transact at, or better than,
mid-price (which is the case for certain equity, bond and vanilla derivative markets). For other financial assets and liabilities,
bid-offer adjustments are recorded to reflect the exit level for the expected close out strategy. The methodology for
determining the bid-offer adjustment for a derivative portfolio involves calculating the net risk exposure by offsetting long
and short positions by strike and term in accordance with the risk management and hedging strategy.
Bid-offer levels are generally derived from market quotes such as broker data. Less liquid instruments may not have a
directly observable bid-offer level. In such instances, an exit price adjustment may be derived from an observable bid-offer
level for a comparable liquid instrument, or determined by calibrating to derivative prices, or by scenario or historical
analysis.
Exit price adjustments derived from market bid-offer spreads have increased by \u00a389m.
Discounting approaches for derivative instruments
Collateralised
In line with market practice, the methodology for discounting collateralised derivatives takes into account the nature and
currency of the collateral that can be posted within the relevant credit support annex (CSA). The CSA aware discounting
approach recognises the \u2018cheapest to deliver\u2019 option that reflects the ability of the party posting collateral to change the
currency of the collateral.
Uncollateralised
A fair value adjustment of \u00a362m is applied to account for the impact of incorporating the cost/benefit of funding into the
valuation of uncollateralised and partially collateralised derivative portfolios and collateralised derivatives where the terms of
the agreement do not allow the rehypothecation of collateral received. The derivative funding adjustment has moved by
\u00a343m.
Derivative credit and debit valuation adjustments
Derivative credit valuation adjustments and derivative debit valuation adjustments are incorporated into derivative
valuations to reflect the impact on fair value of counterparty credit risk and Barclays Bank Group\u2019s own credit quality
respectively. These adjustments are calculated for uncollateralised and partially collateralised derivatives across all asset
classes. Derivative credit valuation adjustments and derivative debit valuation adjustments are calculated using estimates of
exposure at default, probability of default and recovery rates, at a counterparty level. Counterparties include (but are not
limited to) corporates, Sovereigns and Sovereign agencies and Supranationals.
Exposure at default is generally estimated through the simulation of underlying risk factors through approximating with a
more vanilla structure, or by using current or scenario-based mark to market as an estimate of future exposure.
Probability of default and recovery rate information is generally sourced from the credit default swap (CDS) markets. Where
this information is not available, or considered unreliable, alternative approaches are taken based on mapping internal
counterparty ratings onto historical or market-based default and recovery information.
Derivative credit valuation adjustments decreased by \u00a329m. Derivative debit valuation adjustments increased by \u00a3(11)m.
Correlation between counterparty credit and underlying derivative risk factors, termed \u2018wrong-way,\u2019 or \u2018right-way\u2019 risk, is not
systematically incorporated into the derivative credit valuation adjustments calculation but is adjusted where the underlying
exposure is directly related to the counterparty.
Barclays Bank Group continues to monitor market practices and activity to ensure the approach to uncollateralised
derivative valuation remains appropriate.
Unrecognised gains as a result of the use of valuation models using unobservable inputs
The amount that is yet to be recognised in income, relating to the difference between the transaction price (the fair value at
initial recognition) and the amount that would have arisen had valuation models using unobservable inputs been used on
initial recognition, is \u00a3258m (2024: \u00a3267m) for financial instruments measured at fair value. There are additions and FX
revaluation of \u00a354m (2024: \u00a3177m) and amortisation and releases of \u00a363m (2024: \u00a3104m) for these instruments. For
financial instruments carried at amortised cost, the amount that is yet to be recognised in income is \u00a316m (2024: \u00a317m).
There are additions of \u00a3nil (2024: \u00a3nil) and amortisation and releases of \u00a31m (2024: \u00a31m) for these instruments.
Third-party credit enhancements
Structured and brokered certificates of deposit issued by Barclays Bank Group are insured up to $250,000 per depositor by
the Federal Deposit Insurance Corporation (FDIC) in the United States. The FDIC is funded by fees that Barclays Bank Group
and other banks pay for deposit insurance coverage. The carrying value of these issued certificates of deposit that are
designated under the IFRS 9 fair value option includes this third-party credit enhancement. The on-balance sheet value of
these brokered certificates of deposit amounted to \u00a34,156m (2024: \u00a34,844m).
Comparison of carrying amounts and fair values for assets and liabilities not held at fair value
The following table shows the fair value of financial assets and liabilities measured at amortised cost on Barclays Bank
Group\u2019s and Barclays Bank PLC's balance sheet disaggregated by the fair value hierarchy and balance sheet classification
Barclays Bank Group
2025
2024
Carrying
amount
Fair value
Level 1
Level 2
Level 3
Carrying
amount
Fair value
Level 1
Level 2
Level 3
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Financial assets
Debt securities at amortised cost
55,153
54,165
31,675
19,043
3,447
50,227
49,400
18,307
29,509
1,584
Loans and advances at
amortised cost
150,786
152,780
7,365
67,077
78,338
144,827
146,369
6,791
67,601
71,977
Reverse repurchase agreements
and other similar secured
lending
17,662
17,662
\u2014
17,662
\u2014
3,393
3,393
\u2014
3,393
\u2014
Assets included in disposal
groups classified as held for sale
5,801
6,065
\u2014
\u2014
6,065
9,544
9,628
\u2014
3,520
6,108
Financial liabilities
Deposits at amortised cost
(344,751)
(344,803)
(215,669)
(128,205)
(929)
(319,376)
(319,135)
(203,393)
(115,172)
(570)
Repurchase agreements and
other similar secured borrowing
(18,651)
(18,651)
\u2014
(18,651)
\u2014
(29,397)
(29,397)
\u2014
(29,397)
\u2014
Debt securities in issue
(57,229)
(57,170)
\u2014
(56,343)
(827)
(35,803)
(35,745)
\u2014
(34,612)
(1,133)
Subordinated liabilities
(45,239)
(47,511)
\u2014
(46,850)
(661)
(41,875)
(43,030)
\u2014
(42,189)
(841)
Liabilities included in disposal
groups classified as held for sale
\u2014
\u2014
\u2014
\u2014
\u2014
(3,647)
(3,647)
\u2014
(3,647)
\u2014
The fair value is an estimate of the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. As a wide range of valuation techniques are available, it
may not be appropriate to directly compare this fair value information to independent market sources or other financial
institutions. Different valuation methodologies and assumptions can have a significant impact on fair values which are based
on unobservable inputs.
Debt Securities at amortised cost
Debt securities at amortised cost are valued using observable market prices sourced from broker quotes, inter-dealer prices
or other reliable pricing sources. Observability assessment is performed with reference to bond market trading data. Bonds
are assessed at Level 1 if they are traded in active market with a quoted price in line with requirements of IFRS 13.\u00a0 Where
market data for the underlying bond is unavailable, a number of proxy/extrapolation techniques are employed to determine
the appropriate fair value. The enhancements noted in levelling policy are applicable to the government bonds reported at
amortised cost.
Loans and advances at amortised cost
The fair value of loans and advances, for the purpose of this disclosure, is derived from discounting expected cash flows in a
way that reflects the current market price or loan spreads of the borrowers. Where market data or credit information on the
underlying borrowers is unavailable, a number of proxy/extrapolation techniques are employed to determine the
appropriate discount rates.
Reverse repurchase agreements and other similar secured lending
The fair value of reverse repurchase agreements approximates carrying amounts as these balances are generally short dated
and fully collateralised.
Deposits at amortised cost
In many cases, the fair value disclosed approximates carrying value because the instruments are short-term in nature or
have interest rates that reprice frequently, such as customer accounts and other deposits and short-term debt securities.
The fair value for deposits with longer-term maturities, mainly time deposits, are estimated using discounted cash flows
applying either market rates or current rates for deposits of similar remaining maturities.
Repurchase agreements and other similar secured borrowing
The fair value of repurchase agreements approximates carrying amounts as these balances are generally short dated.
Debt securities in issue
Fair values of other debt securities in issue are based on quoted prices where available or, where the instruments are short
dated, carrying amount approximates fair value.
Subordinated liabilities
Fair values for dated and undated convertible and non-convertible loan capital are based on quoted market rates for the
issuer concerned or issuers with similar terms and conditions.
Assets & liabilities included in disposal groups classified as held for sale
The fair value for the purposes of this disclosure has been prepared in accordance with the products held for sale, and
valuation techniques used to determine the expected sales price of these assets and liabilities that will be achieved when the
disposal group is sold.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-572": { "value": "
Accounting for financial assets and liabilities \u2013 fair value
Financial instruments that are held for trading are recognised at fair value through profit or loss. In addition, financial assets
are held at fair value through profit or loss if they do not contain contractual terms that give rise on specified dates to cash
flows that are SPPI, or if the financial asset is not held in a business model that is either (i) a business model to collect the
contractual cash flows or (ii) a business model that is achieved by both collecting contractual cash flows and selling.
Subsequent changes in fair value for these instruments are recognised in the income statement in net investment income,
except if reporting it in trading income reduces an accounting mismatch.
Wherever possible, fair value is determined by reference to a quoted market price for that instrument. For many of the
Barclays Bank Group\u2019s financial assets and liabilities, including derivatives, quoted prices are not available and valuation
models are used to estimate fair value. The models calculate the expected cash flows under the terms of each specific
contract and then discount these values back to a present value. These models use as their basis independently sourced
market inputs including, for example, interest rate yield curves, equities and commodities prices, option volatilities and
currency rates.
For financial liabilities measured at fair value, the carrying amount also reflects the effect on fair value of changes in own
credit spreads derived from observable market data such as in primary issuance and redemption activity for structured
notes.
The Barclays Bank Group uses the portfolio exemption in IFRS 13 Fair Value Measurement to measure the fair value of
groups of financial assets and liabilities. Financial instruments are measured using the price that would be received to sell a
net long position (i.e. an asset) for a particular risk exposure or to transfer a net short position (i.e. a liability) for a particular
risk exposure in an orderly transaction between market participants at the balance sheet date under current market
conditions. Accordingly, Barclays Bank Group measures the fair value of the group of financial assets and liabilities
consistently with how market participants would price the net risk exposure at the measurement date.
On initial recognition, the transaction price often reflects the fair value of the asset or liability.\u00a0 However, in some
circumstances, fair value may differ to the transaction price when there is information to the contrary. If the fair value of the
instrument is observable from current market transactions in the same instrument, or based on a valuation technique whose
inputs only include observable inputs, then the instrument is initially recognised at fair value and the difference to the
transaction price is recognised in profit or loss.
For valuations that have made use of unobservable inputs, the difference between the model valuation and the initial
transaction price (day one profit) is recognised in profit or loss either: on a straight-line basis over the term of the
transaction; or over the period until all inputs will become observable where appropriate; or released in full when previously
unobservable inputs become observable.
Various factors influence the availability of observable inputs, and these may vary from product to product and change over
time. Factors include the depth of activity in the relevant market, the type of product, whether the product is new and not
widely traded in the marketplace, the maturity of market modelling and the nature of the transaction (bespoke or generic).
To the extent that valuation is based on models or inputs that are not observable in the market, the determination of fair
value can be more subjective, dependent on the significance of the unobservable input to the overall valuation.
Unobservable inputs are determined based on the best information available, for example by reference to similar assets,
similar maturities, or other analytical techniques.
The sensitivity of valuations used in the financial statements to possible changes in significant unobservable inputs is shown
on page 346.
Valuation Control Framework
The Barclays Group has an established valuation control framework that oversees valuation methodologies, standards and
procedures.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Classification of financial instruments with significant unobservable
inputs as Level 3.
Valuation of Level 3 assets and liabilities are typically determined by
referencing observable inputs, historical data, or employing other
analytical techniques.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
financial assets and financial liabilities measured at fair value within the next financial year.
The valuation of financial instruments often involves a significant degree of judgement and complexity, in particular where
valuation models make use of unobservable inputs (\u2018Level 3\u2019 assets and liabilities). This note provides information on these
instruments, including the related unrealised gains and losses recognised in the period, a description of significant valuation
techniques and unobservable inputs, and a sensitivity analysis.
For assets and liabilities traded in active markets, it is determined that the market valuation includes a representation of the
prevailing view of climate-related risks. Within less active markets, for counterparties and instruments identified as being
more susceptible to climate change risk, an impact assessment was performed through increasing their probability of
default. The change in valuation of the assets and liabilities from this assessment was sufficiently immaterial to necessitate
any amendment to the reported 2025 year-end valuations.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-573": { "value": "
Valuation
Assets and liabilities are classified according to a hierarchy that reflects the observability of significant market inputs. The
three levels of the fair value hierarchy are defined below with judgement applied in determining the boundary between Level
2 and 3 classifications.
Valuation techniques using quoted market prices \u2013 Level 1
Assets and liabilities are classified as Level 1 if their value is observable in an active market. Such instruments are valued by
reference to unadjusted quoted prices for identical assets or liabilities in active markets where the quoted price is readily
available, and the price represents actual and regularly occurring market transactions. An active market is one in which
transactions occur with sufficient volume and frequency to provide pricing information on an ongoing basis.
Valuation techniques using observable inputs \u2013 Level 2
Assets and liabilities classified as Level 2 have been valued using models whose inputs are observable either directly or
indirectly. A valuation input is considered observable if it can be directly observed from transactions in an active market, or if
there is compelling external evidence demonstrating an executable exit price. Valuations based on observable inputs include
assets and liabilities such as swaps and forwards which are valued using market standard pricing techniques, and options
that are commonly traded in markets where all the inputs to the market standard pricing models are observable. For certain
instruments that derive a fair value using unobservable inputs that are not considered significant, then the asset or liability
may be classified as Level 2.
Valuation techniques using significant unobservable inputs \u2013 Level 3
Assets and liabilities are classified as Level 3 if their valuation incorporates significant inputs that are not based on
observable market data (unobservable inputs). Unobservable input levels are generally determined via reference to
observable inputs, historical observations or using other analytical techniques.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-574": { "value": "
The Barclays Bank Group reports financial assets and financial liabilities on a net basis on the balance sheet only if there is a
legally enforceable right to set-off the recognised amounts and there is intention to settle on a net basis, or to realise the
asset and settle the liability simultaneously. The following table shows the impact of netting arrangements on:
\u25aa All financial assets and liabilities that are reported net on the balance sheet.
\u25aa All derivative financial instruments and reverse repurchase and repurchase agreements and other similar secured lending
and borrowing agreements that are subject to enforceable master netting arrangements or similar agreements, but do not
qualify for balance sheet netting.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-576": { "value": "Property, plant and equipment
Accounting for property, plant and equipment
Property, plant and equipment is stated at cost, which includes direct and incremental acquisition costs less accumulated
depreciation and provisions for impairment, if required. Subsequent costs are capitalised if these result in enhancement of
the asset.
Depreciation is provided on the depreciable amount of items of property, plant and equipment on a straight-line basis over
their estimated useful economic lives. Depreciation rates, methods and the residual values underlying the calculation of
depreciation of items of property, plant and equipment are kept under review to take account of any change in
circumstances including consideration on future Climate and Sustainability investments.
The Barclays Bank Group and Barclays Bank PLC use the following annual rates in calculating depreciation:
Annual rates in calculating depreciation
Depreciation rate
Freehold land
Not depreciated
Freehold buildings
2%- 3.3%
Leasehold property
Over the remaining life of the lease
Costs of adaptation of freehold and leasehold property
6%- 10%
Equipment installed in freehold and leasehold property
6%- 10%
Computers and similar equipment
17%- 33%
Fixtures and fittings and other equipment
9%- 20%
Costs of adaptation and installed equipment are depreciated over the shorter of the life of the lease or the depreciation rates
noted in the table above.
Investment property
The Barclays Bank Group and Barclays Bank PLC initially recognises investment property at cost, and subsequently at fair
value at each balance sheet date, reflecting market conditions at the reporting date. Gains and losses on remeasurement are
included in the income statement.
Barclays Bank Group
Investment
property
Property
Equipment
Right of use
assets 1
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Cost
As at 1 January 2025
9
1,624
938
1,043
3,614
Additions
33
59
84
99
275
Disposals2
\u2014
(5)
(20)
(35)
(60)
Exchange and other movements3
1
(98)
(58)
21
(134)
As at 31 December 2025
43
1,580
944
1,128
3,695
Accumulated depreciation and impairment
As at 1 January 2025
\u2014
(813)
(725)
(530)
(2,068)
Depreciation charge4
\u2014
(43)
(72)
(47)
(162)
Impairment charge4
\u2014
(2)
(6)
(8)
Disposals2
\u2014
5
20
29
54
Exchange and other movements3
\u2014
44
41
7
92
As at 31 December 2025
\u2014
(809)
(736)
(547)
(2,092)
Net book value
43
771
208
581
1,603
Cost
As at 1 January 2024
2
1,540
942
803
3,287
Additions
9
70
58
12
149
Disposals2
(2)
(14)
(47)
(9)
(72)
Exchange and other movements
\u2014
28
(15)
237
250
As at 31 December 2024
9
1,624
938
1,043
3,614
Accumulated depreciation and impairment
As at 1 January 2024
\u2014
(778)
(690)
(557)
(2,025)
Depreciation charge4
\u2014
(42)
(73)
(51)
(166)
Impairment charge4
\u2014
\u2014
\u2014
0
0
Disposals2
\u2014
14
40
9
63
Exchange and other movements
\u2014
(7)
(2)
69
60
As at 31 December 2024
\u2014
(813)
(725)
(530)
(2,068)
Net book value
9
811
213
513
1,546
Notes
1Right of use (ROU) asset balances relate to Property Leases accounted in accordance with IFRS 16. Refer to Note 19 for further details
2Disposals pertain to fully depreciated assets which are not in use
3\u00a0 \u00a0 \u00a0 Exchange and other movements in Right of use (ROU) asset balances include modification related to a lease extension by ~91 years.
4\u00a0 \u00a0 Depreciation and impairment charge is part of Infrastructure, administration and general expenses shown under Note 7
Notes
1Right of use (ROU) asset balances relate to Property Leases accounted in accordance with IFRS 16. Refer to Note 19 for further details
2Disposals pertain to fully depreciated assets which are not in use
3\u00a0 \u00a0 Exchange and other movements in Right of use (ROU) asset balances include modification related to a lease extension by ~91 years
4\u00a0 \u00a0 Depreciation and impairment charge is part of Infrastructure, administration and general expenses shown under Note 7
Property rentals of \u00a37m ( 2024: \u00a38m) have been included in other income within the Barclays Bank Group.
The fair value of investment property is determined by reference to current market prices for similar properties, adjusted as
necessary for condition and location, or by reference to recent transactions updated to reflect current economic conditions.
Discounted cash flow techniques may be employed to calculate fair value where there have been no recent transactions,
using current external market inputs such as market rents and interest rates. Valuations are carried out by management
with the support of appropriately qualified independent valuers.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentPropertyExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-575": { "value": "Property, plant and equipment
Accounting for property, plant and equipment
Property, plant and equipment is stated at cost, which includes direct and incremental acquisition costs less accumulated
depreciation and provisions for impairment, if required. Subsequent costs are capitalised if these result in enhancement of
the asset.
Depreciation is provided on the depreciable amount of items of property, plant and equipment on a straight-line basis over
their estimated useful economic lives. Depreciation rates, methods and the residual values underlying the calculation of
depreciation of items of property, plant and equipment are kept under review to take account of any change in
circumstances including consideration on future Climate and Sustainability investments.
The Barclays Bank Group and Barclays Bank PLC use the following annual rates in calculating depreciation:
Annual rates in calculating depreciation
Depreciation rate
Freehold land
Not depreciated
Freehold buildings
2%- 3.3%
Leasehold property
Over the remaining life of the lease
Costs of adaptation of freehold and leasehold property
6%- 10%
Equipment installed in freehold and leasehold property
6%- 10%
Computers and similar equipment
17%- 33%
Fixtures and fittings and other equipment
9%- 20%
Costs of adaptation and installed equipment are depreciated over the shorter of the life of the lease or the depreciation rates
noted in the table above.
Investment property
The Barclays Bank Group and Barclays Bank PLC initially recognises investment property at cost, and subsequently at fair
value at each balance sheet date, reflecting market conditions at the reporting date. Gains and losses on remeasurement are
included in the income statement.
Barclays Bank Group
Investment
property
Property
Equipment
Right of use
assets 1
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Cost
As at 1 January 2025
9
1,624
938
1,043
3,614
Additions
33
59
84
99
275
Disposals2
\u2014
(5)
(20)
(35)
(60)
Exchange and other movements3
1
(98)
(58)
21
(134)
As at 31 December 2025
43
1,580
944
1,128
3,695
Accumulated depreciation and impairment
As at 1 January 2025
\u2014
(813)
(725)
(530)
(2,068)
Depreciation charge4
\u2014
(43)
(72)
(47)
(162)
Impairment charge4
\u2014
(2)
(6)
(8)
Disposals2
\u2014
5
20
29
54
Exchange and other movements3
\u2014
44
41
7
92
As at 31 December 2025
\u2014
(809)
(736)
(547)
(2,092)
Net book value
43
771
208
581
1,603
Cost
As at 1 January 2024
2
1,540
942
803
3,287
Additions
9
70
58
12
149
Disposals2
(2)
(14)
(47)
(9)
(72)
Exchange and other movements
\u2014
28
(15)
237
250
As at 31 December 2024
9
1,624
938
1,043
3,614
Accumulated depreciation and impairment
As at 1 January 2024
\u2014
(778)
(690)
(557)
(2,025)
Depreciation charge4
\u2014
(42)
(73)
(51)
(166)
Impairment charge4
\u2014
\u2014
\u2014
0
0
Disposals2
\u2014
14
40
9
63
Exchange and other movements
\u2014
(7)
(2)
69
60
As at 31 December 2024
\u2014
(813)
(725)
(530)
(2,068)
Net book value
9
811
213
513
1,546
Notes
1Right of use (ROU) asset balances relate to Property Leases accounted in accordance with IFRS 16. Refer to Note 19 for further details
2Disposals pertain to fully depreciated assets which are not in use
3\u00a0 \u00a0 \u00a0 Exchange and other movements in Right of use (ROU) asset balances include modification related to a lease extension by ~91 years.
4\u00a0 \u00a0 Depreciation and impairment charge is part of Infrastructure, administration and general expenses shown under Note 7
Notes
1Right of use (ROU) asset balances relate to Property Leases accounted in accordance with IFRS 16. Refer to Note 19 for further details
2Disposals pertain to fully depreciated assets which are not in use
3\u00a0 \u00a0 Exchange and other movements in Right of use (ROU) asset balances include modification related to a lease extension by ~91 years
4\u00a0 \u00a0 Depreciation and impairment charge is part of Infrastructure, administration and general expenses shown under Note 7
Property rentals of \u00a37m ( 2024: \u00a38m) have been included in other income within the Barclays Bank Group.
The fair value of investment property is determined by reference to current market prices for similar properties, adjusted as
necessary for condition and location, or by reference to recent transactions updated to reflect current economic conditions.
Discounted cash flow techniques may be employed to calculate fair value where there have been no recent transactions,
using current external market inputs such as market rents and interest rates. Valuations are carried out by management
with the support of appropriately qualified independent valuers.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-577": { "value": "
Accounting for property, plant and equipment
Property, plant and equipment is stated at cost, which includes direct and incremental acquisition costs less accumulated
depreciation and provisions for impairment, if required. Subsequent costs are capitalised if these result in enhancement of
the asset.
Depreciation is provided on the depreciable amount of items of property, plant and equipment on a straight-line basis over
their estimated useful economic lives. Depreciation rates, methods and the residual values underlying the calculation of
depreciation of items of property, plant and equipment are kept under review to take account of any change in
circumstances including consideration on future Climate and Sustainability investments.
The Barclays Bank Group and Barclays Bank PLC use the following annual rates in calculating depreciation:
Annual rates in calculating depreciation
Depreciation rate
Freehold land
Not depreciated
Freehold buildings
2%- 3.3%
Leasehold property
Over the remaining life of the lease
Costs of adaptation of freehold and leasehold property
6%- 10%
Equipment installed in freehold and leasehold property
6%- 10%
Computers and similar equipment
17%- 33%
Fixtures and fittings and other equipment
9%- 20%
Costs of adaptation and installed equipment are depreciated over the shorter of the life of the lease or the depreciation rates
noted in the table above.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-578": { "value": "
The Barclays Bank Group and Barclays Bank PLC use the following annual rates in calculating depreciation:
Annual rates in calculating depreciation
Depreciation rate
Freehold land
Not depreciated
Freehold buildings
2%- 3.3%
Leasehold property
Over the remaining life of the lease
Costs of adaptation of freehold and leasehold property
6%- 10%
Equipment installed in freehold and leasehold property
6%- 10%
Computers and similar equipment
17%- 33%
Fixtures and fittings and other equipment
9%- 20%
Costs of adaptation and installed equipment are depreciated over the shorter of the life of the lease or the depreciation rates
noted in the table above.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-579": { "value": "
Investment property
The Barclays Bank Group and Barclays Bank PLC initially recognises investment property at cost, and subsequently at fair
value at each balance sheet date, reflecting market conditions at the reporting date. Gains and losses on remeasurement are
included in the income statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-580": { "value": "Leases
Accounting for leases
When the Barclays Bank Group or Barclays Bank PLC are the lessee, they are required to recognise both:
\u25aa a lease liability, measured at the present value of remaining cash flows on the lease
\u25aa a right of use (ROU) asset, measured at the amount of the initial measurement of the lease liability, plus any lease
payments made prior to commencement date, initial direct costs, and estimated costs of restoring the underlying asset to
the condition required by the lease, less any lease incentives received.
Subsequently the lease liability will increase for the accrual of interest, resulting in a constant rate of return throughout the
life of the lease, and reduce when payments are made. The right of use asset will amortise to the income statement over the
life of the lease.
On the balance sheet, the ROU assets are included within property, plant and equipment and the lease liabilities are included
within other liabilities.
The Barclays Bank Group and Barclays Bank PLC apply the recognition exemption in IFRS 16 for leases with a term not
exceeding 12 months. For these leases the lease payments are recognised as an expense on a straight line basis over the
lease term unless another systematic basis is more appropriate.
When the Barclays Bank Group or Barclays Bank PLC are the lessor, the lease must be classified as either a finance lease or
an operating lease. A finance lease is a lease which confers substantially all the risks and rewards of the leased assets on the
lessee. An operating lease is a lease where substantially all of the risks and rewards of the leased asset remain with the
lessor.
As lessors
The Barclays Bank Group and Barclays Bank PLC do not have any material operating and finance leases as lessors.
As lessees
The Barclays Bank Group and Barclays Bank PLC lease various offices, branches and other premises under non-cancellable
lease arrangements to meet their operational business requirements. In some instances, the Barclays Bank Group or Barclays
Bank PLC will sublease property to third parties when it is no longer needed to meet business requirements. Currently, the
Barclays Bank Group and Barclays Bank PLC do not have any material subleasing arrangements.
ROU asset balances relate to property leases only. Refer to Note 18 for the carrying amount of ROU assets.
The Barclays Bank Group and Barclays Bank PLC have not recognised any expenses related to short term leases during the
current and previous year.
Lease liabilities
\u00a0Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
As at 1 January
542
280
Interest expense
29
29
New leases
98
11
Disposals
(8)
\u2014
Cash payments
(69)
(73)
Exchange and other movements1
30
295
As at 31 December (see Note 21)
622
542
Note
1Exchange and other movements in 2024 include modification related to a lease extended by ~91 years .
The table below sets out a maturity analysis of undiscounted lease liabilities, showing the lease payments after the reporting
date.
Undiscounted lease liabilities maturity analysis
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Not more than one year
70
70
One to two years
73
66
Two to three years
61
61
Three to four years
59
46
Four to five years
49
40
Five to ten years
198
130
Greater than ten years
3,315
3,550
Total undiscounted lease liabilities as at 31 December
3,825
3,963
In 2024, Barclays had a lease modification for property \"New York, 745 7th Avenue\" wherein there was an extension of lease
term by ~91 years.
In addition to the cash flows identified above, the Barclays Bank Group and Barclays Bank PLC are exposed to:
\u2022 Variable lease payments: This variability will typically arise from either inflation index instruments or market-based pricing
adjustments.
Currently, Barclays Bank Group has 37 (2024: 38 ) leases out of the total 97 ( 2024: 103) leases with variable payment
terms. Of the gross cash flows identified above, \u00a33,746m (2024 : \u00a33,855m) is attributable to leases with some degree of
payment variability.
Extension and termination options: The table above represents the Barclays Bank Group\u2019s and the Barclays Bank PLC\u2019s
best estimate of future cash outflows for leases, including assumptions regarding the exercising of contractual extension
and termination options. The above gross cash flows include adjustments of Nil (2024: \u00a39m ) and Nil ( 2024 : \u00a39m) in
respect of leases for which Barclays Bank Group and the Barclays Bank PLC is highly likely to exercise an early termination
option. The above gross cash flows include adjustments of \u00a31,780m (2024: \u00a31,859m) and \u00a349m (2024: \u00a314m) in respect
of leases for which Barclays Bank Group and the Barclays Bank PLC is highly likely to exercise a lease extension option.
The Barclays Bank Group and Barclays Bank PLC do not have any restrictions or covenants imposed by the lessor on its
property leases which restrict its businesses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-581": { "value": "
Accounting for leases
When the Barclays Bank Group or Barclays Bank PLC are the lessee, they are required to recognise both:
\u25aa a lease liability, measured at the present value of remaining cash flows on the lease
\u25aa a right of use (ROU) asset, measured at the amount of the initial measurement of the lease liability, plus any lease
payments made prior to commencement date, initial direct costs, and estimated costs of restoring the underlying asset to
the condition required by the lease, less any lease incentives received.
Subsequently the lease liability will increase for the accrual of interest, resulting in a constant rate of return throughout the
life of the lease, and reduce when payments are made. The right of use asset will amortise to the income statement over the
life of the lease.
On the balance sheet, the ROU assets are included within property, plant and equipment and the lease liabilities are included
within other liabilities.
The Barclays Bank Group and Barclays Bank PLC apply the recognition exemption in IFRS 16 for leases with a term not
exceeding 12 months. For these leases the lease payments are recognised as an expense on a straight line basis over the
lease term unless another systematic basis is more appropriate.
When the Barclays Bank Group or Barclays Bank PLC are the lessor, the lease must be classified as either a finance lease or
an operating lease. A finance lease is a lease which confers substantially all the risks and rewards of the leased assets on the
lessee. An operating lease is a lease where substantially all of the risks and rewards of the leased asset remain with the
lessor.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-582": { "value": "Goodwill and intangible assets
Accounting for goodwill and intangible assets
Goodwill
Goodwill arising on the acquisition of subsidiaries represents the excess of the fair value of the purchase consideration over
the fair value of the Barclays Bank Group\u2019s share of the assets acquired and the liabilities and contingent liabilities assumed
on the date of the acquisition.
Goodwill is reviewed annually for impairment, or more frequently when there are indications that impairment may have
occurred. The test involves comparing the carrying value of the cash generating unit (CGU) including goodwill with the
present value of the pre-tax cash flows, discounted at a rate of interest that reflects the inherent risks, of the CGU to which
the goodwill relates, or the CGUs fair value if this is higher.
Intangible assets
Intangible assets are initially recognised when they are separable or arise from contractual or other legal rights, the cost can
be measured reliably and, in the case of intangible assets not acquired in a business combination, where it is probable that
future economic benefits attributable to the assets will flow from their use.
For internally generated intangible assets, only costs incurred during the development phase are capitalised. Expenditure in
the research phase is expensed when it is incurred.
Intangible assets are stated at cost (which is, in the case of assets acquired in a business combination, the acquisition date
fair value) less accumulated amortisation and provisions for impairment, if any, and are amortised over their useful lives in a
manner that reflects the pattern to which they contribute to future cash flows, generally using the amortisation periods set
out below:
Annual rates in calculating amortisation
Amortisation period
Goodwill
Not amortised
Internally generated software1
12 months to 6 years
Other software
12 months to 6 years
Customer lists
12 months to 25 years
Licences and other
12 months to 25 years
Note
1Exceptions to the above period relate to useful lives of certain core banking platforms that are assessed individually and, if appropriate, amortised
over longer periods ranging from 10 years to 15 years.
Intangible assets are reviewed for impairment when there are indications that impairment may have occurred. Intangible
assets not yet available for use are reviewed annually for impairment.
Intangible assets
Goodwill
Internally
generated
software
Other
software
Customer
lists
Licences
and other
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Bank Group
Cost
As at 1 January 2025
607
1,339
65
1,162
197
3,370
Additions
\u2014
398
\u2014
\u2014
\u2014
398
Disposals1
\u2014
(156)
(1)
\u2014
(2)
(159)
Exchange and other movements2
(30)
(328)
(4)
(78)
(14)
(454)
As at 31 December 2025
577
1,253
60
1,084
181
3,155
Accumulated amortisation and impairment
As at 1 January 2025
(68)
(647)
(41)
(1,065)
(124)
(1,945)
Disposals1
\u2014
156
1
\u2014
2
159
Amortisation charge3
\u2014
(155)
(8)
(20)
(9)
(192)
Impairment charge3
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Exchange and other movements
\u2014
44
1
72
9
126
As at 31 December 2025
(68)
(602)
(47)
(1,013)
(122)
(1,852)
Net book value
509
651
13
71
59
1,303
Notes
1\u00a0 \u00a0 Disposals pertain to fully amortised assets which are not in use
2\u00a0 \u00a0 Exchange and other movements in Internally generated software include transfer of IGS from BB Group to BX for \u00a3248m
3\u00a0 \u00a0 Amortisation charge and impairment charge is part of Infrastructure, administration and general expenses shown in Note 7
Goodwill
Internally
generated
software
Other
software
Customer
lists
Licences
and other
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Bank Group
Cost
As at 1 January 2024
335
1,266
73
1,477
128
3,279
Additions
263
366
1
\u2014
66
696
Disposals1
\u2014
(131)
(10)
\u2014
\u2014
(141)
Exchange and other movements
9
(162)
1
(315)
3
(464)
As at 31 December 2024
607
1,339
65
1,162
197
3,370
Accumulated amortisation and impairment
As at 1 January 2024
(68)
(623)
(42)
(1,345)
(117)
(2,195)
Disposals1
\u2014
131
10
\u2014
0
141
Amortisation charge2
\u2014
(149)
(8)
(25)
(5)
(187)
Impairment charge2
\u2014
(2)
\u2014
\u2014
\u2014
(2)
Exchange and other movements
\u2014
(4)
(1)
305
(2)
298
As at 31 December 2024
(68)
(647)
(41)
(1,065)
(124)
(1,945)
Net book value
539
692
24
97
73
1,425
Notes
1Disposals pertain to fully amortised assets which are not in use
2\u00a0 \u00a0 Amortisation charge and impairment charge is part of Infrastructure, administration and general expenses shown in Note 7
\u00a0
Goodwill
Goodwill is allocated to business operations according to business segments as follows:
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Barclays Private Bank and Wealth Management
95
95
Barclays US Consumer Bank
414
444
Total net book value of goodwill
509
539
2025 impairment review
The 2025 impairment review was performed during Q4\u00a02025, with the approach and results of this analysis set out below.
Determining the carrying value of CGUs
The carrying value for each CGU is the sum of the tangible equity, goodwill and intangible asset balances associated with that
CGU.
The Barclays Bank Group manages the assets and liabilities of its CGUs with reference to the tangible equity of the respective
businesses. That tangible equity is derived from the level of risk weighted assets (RWAs) and capital required to be deployed in
the CGU and therefore reflects its relative risk, as well as the level of capital that management considers a market participant
would be required to hold and retain to support business growth.
Goodwill is initially allocated to CGUs or groups of CGUs that are expected to benefit from the synergies of the acquisition that
generated it. Goodwill is only reallocated if there is a change in its use or when reporting structures are altered in a way that
changes the composition of one or more cash-generating units to which goodwill has been allocated.
Cash flows
The five-year cash flows used in the calculation of value in use are based on the formally agreed medium-term plans approved
by the Board. These are prepared using macroeconomic assumptions which management considers reasonable and
supportable, and reflect business agreed initiatives for the forecast period.
Discount rates
IAS 36 requires that the discount rate used in a value in use calculation reflects the pre-tax rate an investor would require if they
were to choose an investment that would generate similar cash flows to those that the entity expects to generate from the
asset. In determining the discount rate, management identified the cost of equity associated with market participants that
closely resemble the Barclays Bank Group's CGUs. The cost of equity has been used as the discount rate in the impairment
assessment and applied to the post tax cash flows of the CGU. This post-tax method incorporates the impact of changing tax
rates on the cash flows and is expected to produce the same VIU result as a pre-tax method adjusted for varying tax rates.
Using the resultant VIU the equivalent pre-tax discount rates have been calculated. The cost of equity rate used for all CGUs in
this year\u2019s calculation has been increased to reflect volatility in markets, an increase in risk free rate and a higher market risk
premium rate. The range of equivalent pre-tax discount rates applicable across the CGUs range from 15.2% to 19.2% (2024:
14.5% to 18.5%).
Terminal growth rate
The terminal growth rate is used to estimate the effect of projecting cash flows to the end of an asset\u2019s useful economic life. It
is management\u2019s judgement that the cash flows associated with the CGUs will grow in line with the major economies in which
the Barclays Bank Group operates. The UK inflation rate is used as an approximation for the future growth rates. The terminal
growth rate used is 2.0% (2024: 2.0%).
Outcome of goodwill and intangibles review
Based on management\u2019s plans and assumptions the value in use exceeds the carrying value of the CGUs and no goodwill
impairment has been indicated by the 2025 impairment review.\u00a0
Cash generating unit
Tangible
equity
Goodwill
Intangibles
Carrying
value
Value in use
Value in use
exceeding
carrying value
2025
Value in use
exceeding
carrying value
2024
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Private Bank and Wealth Management
945
95
\u2014
1,040
4,943
3,903
2,704
Barclays US Consumer Bank
3,055
414
734
4,203
6,879
2,676
353
Total
4,000
509
734
5,243
11,822
6,579
3,057
Sensitivity of key judgements
The headroom is sensitive to possible adverse changes in the key assumptions that support the recoverable amount:
Cash flows: The medium-term plans used to determine the cash flows used in the VIU calculation rely on macroeconomic
forecasts, including interest rates, GDP and unemployment, and forecast levels of customers activity. Interest rate assumptions
impact planned cash flows from both customer income and structural hedge contributions and therefore cash flow
expectations are highly sensitive to movements in the yield curve. The cash flows also contain assumptions with regard to the
prudential and financial conduct regulatory environment which may be subject to change. A sensitivity analysis has been
provided to illustrate the impact of a 10% reduction in cash flows.
Discount rate: The discount rate should reflect the market risk-free rate adjusted for the inherent risks of the business it is
applied to. Management has identified discount rates for comparable businesses and consider these to be a reasonable
estimate of a suitable market rate for the profile of the business unit being tested. The risk that these discount rates may not be
appropriate is quantified below by showing the impact of a 100bps increase in the discount rate.
Terminal growth rate: The terminal growth rate is used to estimate the cash flows into perpetuity based on the expected
longevity of the CGU\u2019s businesses. The terminal growth rate is sensitive to uncertainties in the macroeconomic environment.
The risk that using inflation data may not be appropriate for its determination is quantified below and shows the impact of a
100bps decrease in the terminal growth rate is shown.
Allocated capital rate: Tangible equity is allocated based on the level of risk weighted assets (RWAs) and capital required to be
deployed in the CGU which is dependent on the relative risk of businesses. The capital rate used in determining the level of
tangible equity allocated to the CGU and its capital cash flows could move over time as a result of a change to the prudential
regulatory environment or the risk profile of the business. The impact of a 50bps increase in capital rate is quantified below.
The sensitivity of the value in use to key judgements in the calculations for certain CGUs holding goodwill balances is set out
below:
Reduction in headroom
Change required to reduce headroom
to zero
Cash generating unit
Carrying
value
Value
in
use
Value in
use
exceeding
carrying
value
Discount
rate
100bps
increase
in the
discount
rate
100bps
decrease
in
terminal
growth
rate
50bps
increase
to
allocated
capital
rate
10%
reduction
in
forecasted
cash flows
Discount
rate
Terminal
growth
rate
Allocated
capital
rate
Cash
flows
\u00a3m
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
%
%
%
%
Barclays US
Consumer Bank
4,203
6,879
2,676
16.8
(561)
(361)
(229)
(881)
6.6
(13.1)
5.8
(30.4)
Other intangible assets
Determining the estimated useful lives of intangible assets (such as those arising from contractual relationships) requires an
analysis of circumstances. The assessment of whether an asset is exhibiting indicators of impairment as well as the calculation
of impairment, which requires the estimate of future cash flows and fair values less costs to sell, also requires the preparation of
cash flow f orecasts and fair values for assets that may not be regularly bought and sold.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-583": { "value": "
Accounting for goodwill and intangible assets
Goodwill
Goodwill arising on the acquisition of subsidiaries represents the excess of the fair value of the purchase consideration over
the fair value of the Barclays Bank Group\u2019s share of the assets acquired and the liabilities and contingent liabilities assumed
on the date of the acquisition.
Goodwill is reviewed annually for impairment, or more frequently when there are indications that impairment may have
occurred. The test involves comparing the carrying value of the cash generating unit (CGU) including goodwill with the
present value of the pre-tax cash flows, discounted at a rate of interest that reflects the inherent risks, of the CGU to which
the goodwill relates, or the CGUs fair value if this is higher.
Intangible assets
Intangible assets are initially recognised when they are separable or arise from contractual or other legal rights, the cost can
be measured reliably and, in the case of intangible assets not acquired in a business combination, where it is probable that
future economic benefits attributable to the assets will flow from their use.
For internally generated intangible assets, only costs incurred during the development phase are capitalised. Expenditure in
the research phase is expensed when it is incurred.
Intangible assets are stated at cost (which is, in the case of assets acquired in a business combination, the acquisition date
fair value) less accumulated amortisation and provisions for impairment, if any, and are amortised over their useful lives in a
manner that reflects the pattern to which they contribute to future cash flows, generally using the amortisation periods set
out below:
Annual rates in calculating amortisation
Amortisation period
Goodwill
Not amortised
Internally generated software1
12 months to 6 years
Other software
12 months to 6 years
Customer lists
12 months to 25 years
Licences and other
12 months to 25 years
Note
1Exceptions to the above period relate to useful lives of certain core banking platforms that are assessed individually and, if appropriate, amortised
over longer periods ranging from 10 years to 15 years.
Intangible assets are reviewed for impairment when there are indications that impairment may have occurred. Intangible
assets not yet available for use are reviewed annually for impairment.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-584": { "value": "
Goodwill
Goodwill arising on the acquisition of subsidiaries represents the excess of the fair value of the purchase consideration over
the fair value of the Barclays Bank Group\u2019s share of the assets acquired and the liabilities and contingent liabilities assumed
on the date of the acquisition.
Goodwill is reviewed annually for impairment, or more frequently when there are indications that impairment may have
occurred. The test involves comparing the carrying value of the cash generating unit (CGU) including goodwill with the
present value of the pre-tax cash flows, discounted at a rate of interest that reflects the inherent risks, of the CGU to which
the goodwill relates, or the CGUs fair value if this is higher.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-585": { "value": "
Intangible assets
Intangible assets are initially recognised when they are separable or arise from contractual or other legal rights, the cost can
be measured reliably and, in the case of intangible assets not acquired in a business combination, where it is probable that
future economic benefits attributable to the assets will flow from their use.
For internally generated intangible assets, only costs incurred during the development phase are capitalised. Expenditure in
the research phase is expensed when it is incurred.
Intangible assets are stated at cost (which is, in the case of assets acquired in a business combination, the acquisition date
fair value) less accumulated amortisation and provisions for impairment, if any, and are amortised over their useful lives in a
manner that reflects the pattern to which they contribute to future cash flows, generally using the amortisation periods set
out below:
Annual rates in calculating amortisation
Amortisation period
Goodwill
Not amortised
Internally generated software1
12 months to 6 years
Other software
12 months to 6 years
Customer lists
12 months to 25 years
Licences and other
12 months to 25 years
Note
1Exceptions to the above period relate to useful lives of certain core banking platforms that are assessed individually and, if appropriate, amortised
over longer periods ranging from 10 years to 15 years.
Intangible assets are reviewed for impairment when there are indications that impairment may have occurred. Intangible
assets not yet available for use are reviewed annually for impairment.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-586": { "value": "
Intangible assets
Goodwill
Internally
generated
software
Other
software
Customer
lists
Licences
and other
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Bank Group
Cost
As at 1 January 2025
607
1,339
65
1,162
197
3,370
Additions
\u2014
398
\u2014
\u2014
\u2014
398
Disposals1
\u2014
(156)
(1)
\u2014
(2)
(159)
Exchange and other movements2
(30)
(328)
(4)
(78)
(14)
(454)
As at 31 December 2025
577
1,253
60
1,084
181
3,155
Accumulated amortisation and impairment
As at 1 January 2025
(68)
(647)
(41)
(1,065)
(124)
(1,945)
Disposals1
\u2014
156
1
\u2014
2
159
Amortisation charge3
\u2014
(155)
(8)
(20)
(9)
(192)
Impairment charge3
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Exchange and other movements
\u2014
44
1
72
9
126
As at 31 December 2025
(68)
(602)
(47)
(1,013)
(122)
(1,852)
Net book value
509
651
13
71
59
1,303
Notes
1\u00a0 \u00a0 Disposals pertain to fully amortised assets which are not in use
2\u00a0 \u00a0 Exchange and other movements in Internally generated software include transfer of IGS from BB Group to BX for \u00a3248m
3\u00a0 \u00a0 Amortisation charge and impairment charge is part of Infrastructure, administration and general expenses shown in Note 7
Goodwill
Internally
generated
software
Other
software
Customer
lists
Licences
and other
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Bank Group
Cost
As at 1 January 2024
335
1,266
73
1,477
128
3,279
Additions
263
366
1
\u2014
66
696
Disposals1
\u2014
(131)
(10)
\u2014
\u2014
(141)
Exchange and other movements
9
(162)
1
(315)
3
(464)
As at 31 December 2024
607
1,339
65
1,162
197
3,370
Accumulated amortisation and impairment
As at 1 January 2024
(68)
(623)
(42)
(1,345)
(117)
(2,195)
Disposals1
\u2014
131
10
\u2014
0
141
Amortisation charge2
\u2014
(149)
(8)
(25)
(5)
(187)
Impairment charge2
\u2014
(2)
\u2014
\u2014
\u2014
(2)
Exchange and other movements
\u2014
(4)
(1)
305
(2)
298
As at 31 December 2024
(68)
(647)
(41)
(1,065)
(124)
(1,945)
Net book value
539
692
24
97
73
1,425
Notes
1Disposals pertain to fully amortised assets which are not in use
2\u00a0 \u00a0 Amortisation charge and impairment charge is part of Infrastructure, administration and general expenses shown in Note 7
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-587": { "value": "
Goodwill
Goodwill is allocated to business operations according to business segments as follows:
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Barclays Private Bank and Wealth Management
95
95
Barclays US Consumer Bank
414
444
Total net book value of goodwill
509
539
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-588": { "value": "Other liabilities
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Accruals and deferred income
2,933
3,035
Other creditors
4,270
4,319
Items in the course of collection due to other banks
6
8
Lease liabilities (refer to Note 19)
622
542
Other liabilities
7,831
7,904
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-589": { "value": "Provisions
Accounting for provisions
Provisions are recognised for present obligations arising as consequences of past events where it is more likely than not that
a transfer of economic benefit will be necessary to settle the obligation, which can be reliably estimated.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Determination as to whether a present obligation exists.
Estimation uncertainty in the probability, timing, nature and quantum
of outflows.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
provisions within the next financial year.
The financial reporting of provisions involves a significant degree of judgement and is complex. Identifying whether a
present obligation exists and estimating the probability, timing, nature and quantum of the outflows that may arise from
past events requires judgements to be made based on the specific facts and circumstances relating to individual events and
often requires specialist professional advice. When matters are at an early stage, accounting judgements and estimates can
be difficult because of the high degree of uncertainty involved. Management continues to monitor matters as they develop
to re-evaluate on an ongoing basis whether provisions should be recognised, however there can remain a wide range of
possible outcomes and uncertainties, particularly in relation to legal, competition and regulatory matters, and as a result it is
often not practicable to make meaningful estimates even when matters are at a more advanced stage.
The amount that is recognised as a provision can also be very sensitive to the assumptions made in calculating it. This gives
rise to a large range of potential outcomes which require judgement in determining an appropriate provision level. See Note
24 for more detail of legal, competition and regulatory matters.
Redundancy
and
restructuring
Customer
redress
Legal,
competition
and
regulatory
matters
Onerous
contracts
Sundry
provisions
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Bank Group
As at 1 January 2025
87
13
58
\u2014
158
316
Additions
141
9
102
16
65
333
Amounts utilised
(109)
(4)
(77)
\u2014
(28)
(218)
Unused amounts reversed
(53)
(3)
(3)
\u2014
(5)
(64)
Exchange and other movements
(2)
1
(1)
\u2014
3
1
As at 31 December 2025
64
16
79
16
193
368
Undrawn contractually committed facilities and guarantees
As at 1 January 2025
420
Net change in expected credit loss provision and other
movements
(22)
As at 31 December 2025
398
Total provisions
As at 1 January 2025
736
As at 31 December 2025
766
Provisions expected to be recovered or settled within no more than 12 months after 31\u00a0December 2025 for Barclays Bank
Group are \u00a3693m (2024: \u00a3663m) and for Barclays Bank PLC were \u00a3415m ( 2024 : \u00a3421m ).
Redundancy and restructuring
These provisions comprise the estimated cost of restructuring, including redundancy costs where an obligation exists. For
example, when the Barclays Bank Group has a detailed formal plan for restructuring a business and has raised valid
expectations in those affected by the restructuring by announcing its main features or starting to implement the plan.
Customer redress
Customer redress provisions comprise the estimated cost of making redress payments to customers, clients and
counterparties for losses or damages associated with inappropriate judgement in the execution of the Barclays Bank Group\u2019s
business activities.
Legal, competition and regulatory matters
The Barclays Bank Group is engaged in various legal proceedings, both in the UK and a number of other overseas
jurisdictions, including the US. For further information in relation to legal proceedings and discussion of the associated
uncertainties, please refer to Note 24.
Onerous contracts
Onerous contract provisions comprise an estimate of the unavoidable costs involved with fulfilling the terms and conditions
of contracts net of any expected benefits to be received.
Sundry provisions
This category includes provisions that do not fit into any of the other categories, such as fraud losses and dilapidation
provisions.
Undrawn contractually committed facilities and guarantees
Undrawn contractually committed facilities and guarantees provisions are accounted under IFRS9. Impairment allowance
under IFRS 9 considers both the drawn and the undrawn counterparty exposure. For retail portfolios, the total impairment
allowance is allocated to the drawn exposure to the extent that the allowance does not exceed the exposure as ECL is not
reported separately. Any excess is reported on the liability side of the balance sheet as a provision. For wholesale portfolios
the impairment allowance on the undrawn exposure is reported on the liability side of the balance sheet as a provision.
Further analysis of the movement is disclosed within the 'Movement in gross exposures and impairment allowance including
provisions for loan commitments and financial guarantees' in the expected credit loss provision table on pages 171 to 176.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-590": { "value": "
Accounting for provisions
Provisions are recognised for present obligations arising as consequences of past events where it is more likely than not that
a transfer of economic benefit will be necessary to settle the obligation, which can be reliably estimated.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Judgements
Estimates
Determination as to whether a present obligation exists.
Estimation uncertainty in the probability, timing, nature and quantum
of outflows.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amounts of
provisions within the next financial year.
The financial reporting of provisions involves a significant degree of judgement and is complex. Identifying whether a
present obligation exists and estimating the probability, timing, nature and quantum of the outflows that may arise from
past events requires judgements to be made based on the specific facts and circumstances relating to individual events and
often requires specialist professional advice. When matters are at an early stage, accounting judgements and estimates can
be difficult because of the high degree of uncertainty involved. Management continues to monitor matters as they develop
to re-evaluate on an ongoing basis whether provisions should be recognised, however there can remain a wide range of
possible outcomes and uncertainties, particularly in relation to legal, competition and regulatory matters, and as a result it is
often not practicable to make meaningful estimates even when matters are at a more advanced stage.
The amount that is recognised as a provision can also be very sensitive to the assumptions made in calculating it. This gives
rise to a large range of potential outcomes which require judgement in determining an appropriate provision level. See Note
24 for more detail of legal, competition and regulatory matters.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-591": { "value": "Contingent liabilities and commitments
Accounting for contingent liabilities
Contingent liabilities are possible obligations whose existence will be confirmed only by uncertain future events and present
obligations where the transfer of economic resources is uncertain or cannot be reliably measured. Contingent liabilities are
not recognised on the balance sheet but are disclosed unless the likelihood of an outflow of economic resources is remote.
The following table summarises the nominal principal amount of contingent liabilities and commitments which are not
recorded on-balance sheet:
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Guarantees and letters of credit pledged as collateral security
16,890
16,814
Performance guarantees, acceptances and endorsements
9,743
9,751
Total contingent liabilities and financial guarantees
26,633
26,565
\u00a0 Of which: Financial guarantees and letters of credit carried at fair value
905
988
Documentary credits and other short-term trade related transactions
1,103
1,433
Standby facilities, credit lines and other commitments
354,285
352,344
Total commitments 1
355,388
353,777
\u00a0 Of which: Loan commitments carried at fair value
21,292
15,350
Note
1 Includes exposures relating to financial assets classified as assets held for sale.
Provisions for expected credit losses held against contingent liabilities and commitments equal \u00a3398m ( 2024: \u00a3420m ) for
Barclays Bank Group and \u00a3331m (2024: \u00a3331m ) for Barclays Bank PLC and are reported in Note 22.
Further details on contingent liabilities relating to legal and competition and regulatory matters can be found in Note 24.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-592": { "value": "
Accounting for contingent liabilities
Contingent liabilities are possible obligations whose existence will be confirmed only by uncertain future events and present
obligations where the transfer of economic resources is uncertain or cannot be reliably measured. Contingent liabilities are
not recognised on the balance sheet but are disclosed unless the likelihood of an outflow of economic resources is remote.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-594": { "value": "
The following table summarises the nominal principal amount of contingent liabilities and commitments which are not
recorded on-balance sheet:
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Guarantees and letters of credit pledged as collateral security
16,890
16,814
Performance guarantees, acceptances and endorsements
9,743
9,751
Total contingent liabilities and financial guarantees
26,633
26,565
\u00a0 Of which: Financial guarantees and letters of credit carried at fair value
905
988
Documentary credits and other short-term trade related transactions
1,103
1,433
Standby facilities, credit lines and other commitments
354,285
352,344
Total commitments 1
355,388
353,777
\u00a0 Of which: Loan commitments carried at fair value
21,292
15,350
Note
1 Includes exposures relating to financial assets classified as assets held for sale.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-593": { "value": "
The following table summarises the nominal principal amount of contingent liabilities and commitments which are not
recorded on-balance sheet:
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Guarantees and letters of credit pledged as collateral security
16,890
16,814
Performance guarantees, acceptances and endorsements
9,743
9,751
Total contingent liabilities and financial guarantees
26,633
26,565
\u00a0 Of which: Financial guarantees and letters of credit carried at fair value
905
988
Documentary credits and other short-term trade related transactions
1,103
1,433
Standby facilities, credit lines and other commitments
354,285
352,344
Total commitments 1
355,388
353,777
\u00a0 Of which: Loan commitments carried at fair value
21,292
15,350
Note
1 Includes exposures relating to financial assets classified as assets held for sale.
", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-595": { "value": "Legal, competition and regulatory matters
The Barclays Bank Group faces legal, competition and regulatory challenges, many of which are beyond our control. The
extent of the impact of these matters cannot always be predicted but may materially impact our operations, financial results,
condition and prospects. Matters arising from a set of similar circumstances can give rise to either a contingent liability or a
provision, or both, depending on the relevant facts and circumstances.
The recognition of provisions in relation to such matters involves critical accounting estimates and judgements in
accordance with the relevant accounting policies applicable to Note 22, Provisions. We have not disclosed an estimate of the
potential financial impact or effect on the Barclays Bank Group of contingent liabilities where it is not currently practicable to
do so. Various matters detailed in this note seek damages of an unspecified amount. While certain matters specify the
damages claimed, such claimed amounts do not necessarily reflect the Barclays Bank Group\u2019s potential financial exposure in
respect of those matters.
Proceedings relating to certain advisory services agreements
In 2023, Barclays Bank PLC received requests for arbitration from two Jersey special purpose vehicles connected to PCP
International Finance Limited asserting claims in relation to the October 2008 capital raising. This matter is now concluded,
and there are no other outstanding matters relating to the advisory services agreements.
Civil actions related to LIBOR and other benchmarks
Various individuals and corporates in a range of jurisdictions have threatened or brought civil actions against the Barclays
Bank Group and other banks in relation to the alleged manipulation of LIBOR and/or other benchmarks.
US civil actions related to LIBOR
Multiple civil actions have been filed in the US against the Barclays Bank Group and other banks alleging manipulation of
USD LIBOR, Sterling LIBOR and the LIBOR benchmark that was administered by the Intercontinental Exchange Inc. and
certain of its affiliates (ICE LIBOR).
With respect to USD LIBOR, one action alleging that Barclays Bank PLC, Barclays Capital Inc. (BCI) and other financial
institutions individually and collectively violated provisions of the US Sherman Antitrust Act (Sherman Act), the US
Commodity Exchange Act, the US Racketeer Influenced and Corrupt Organizations Act (RICO), the US Securities Exchange
Act of 1934 and various state laws by manipulating USD LIBOR rates remains, seeking unspecified damages. In September
2025, the US federal district court in the Southern District of New York (SDNY) granted the defendants' motion for summary
judgment and dismissed the remaining USD LIBOR litigations, including the action against the Barclays Bank Group. The
plaintiffs are appealing the decision. A separate USD LIBOR action pending in the SDNY was previously settled. The
settlement is not material to the Barclays Bank Group\u2019s operating results, cash flows or financial position.
With respect to Sterling LIBOR, consolidated class actions filed in the SDNY against Barclays Bank PLC, BCI and other Sterling
LIBOR panel banks alleging, among other things, manipulation of the Sterling LIBOR rate in violation of the Sherman Act, US
Commodity Exchange Act and RICO, were dismissed in 2018. The US Court of Appeals for the Second Circuit (Second
Circuit) affirmed the dismissal in September 2025. This matter is concluded.
With respect to ICE LIBOR, in August 2020, a group of individual plaintiffs in the US District Court for the Northern District of
California on behalf of individual borrowers and consumers of loans and credit cards with variable interest rates linked to
USD ICE LIBOR brought an action against Barclays Bank PLC and other financial institutions alleging Sherman Act violations.
The defendants' motion to dismiss the case was granted in 2022. The US Court of Appeals for the Ninth Circuit affirmed the
dismissal in December 2024. The plaintiffs' petition for US Supreme Court review was denied in June 2025, concluding the
matter.
Non-US benchmarks civil actions
The remaining UK claim, issued in 2017, against Barclays Bank PLC and other banks in connection with alleged manipulation
of LIBOR has now settled. The settlement is not material to the Barclays Bank Group's operating results, cash flows or
financial position. Proceedings are ongoing in Spain and Italy relating to alleged manipulation of LIBOR and EURIBOR. The
proceedings in Israel have concluded.
Foreign exchange civil actions
Legal proceedings have been brought or are threatened against Barclays PLC, Barclays Bank PLC, BCI and Barclays Execution
Services Limited (BX) in connection with alleged manipulation of foreign exchange in the UK, the Netherlands, Israel, Brazil
and Australia. In Australia, the court has approved the settlement and the proceedings are concluded. In Israel, a settlement
in principle has been agreed subject to court approval. The settlements are not material to the Barclays Bank Group's
operating results, cash flows or financial position.
The above-mentioned proceedings include a class action filed against Barclays PLC, Barclays Bank PLC, BX, BCI and other
financial institutions in the UK Competition Appeal Tribunal (CAT) in 2019. The CAT refused to certify the claim in 2022 and
in 2023, the Court of Appeal overturned the CAT\u2019s decision and found that the claim should be certified on an opt-out basis.
Barclays and the other financial institutions involved appealed this decision and, in December 2025, the UK Supreme Court
issued a judgment in their favour, establishing that this claim should be brought as an opt-in class action.
Metals-related civil actions
A US civil complaint alleging manipulation of the price of silver in violation of the US Commodity Exchange Act, the Sherman
Act and state antitrust and consumer protection laws was brought by a proposed class of plaintiffs against a number of
banks, including Barclays Bank PLC, BCI and BX. The complaint, which is filed in the SDNY, was dismissed against the
Barclays entities and certain other defendants in 2018, and against the remaining defendants in 2023. The plaintiffs have
appealed the dismissal of the complaint against all defendants.
Civil actions have also been filed in Canadian courts against Barclays PLC, Barclays Bank PLC, Barclays Capital Canada Inc.
and BCI on behalf of proposed classes of plaintiffs alleging manipulation of gold and silver prices. The Barclays entities have
reached a settlement in principle, which will require court approval. The settlement is not material to the Barclays Bank
Group's operating results, cash flows or financial position.
US residential mortgage-related civil action
There remains one US Residential Mortgage-Backed Securities (RMBS) related civil action arising from unresolved
repurchase requests submitted by Trustees for certain RMBS, alleging breaches of various loan-level representations and
warranties made by Barclays Bank PLC and/or a subsidiary acquired in 2007. Barclays\u2019 motion to dismiss the action was
denied in 2023. The parties appealed the decision and in January 2025, the appellate court reversed the lower court\u2019s
decision and dismissed the action. The plaintiff has requested review by the New York State Court of Appeals.
Government and agency securities civil actions
Treasury auction securities civil actions
Consolidated purported class action complaints filed in US federal court against Barclays Bank PLC, BCI and other financial
institutions under the Sherman Act and state common law allege that the defendants: (i) conspired to manipulate the US
Treasury securities market; and/or (ii) conspired to prevent the creation of certain platforms by boycotting or threatening to
boycott such trading platforms. The court dismissed the consolidated action in 2021 and the plaintiffs filed an amended
complaint. The defendants\u2019 motion to dismiss the amended complaint was granted in 2022. The plaintiffs appealed this
decision, and in February 2024 the appellate court affirmed the dismissal. The plaintiffs did not seek US Supreme Court
review, thereby concluding the matter.
In addition, certain plaintiffs have filed a related, direct action against BCI and certain other financial institutions, alleging that
defendants conspired to fix and manipulate the US Treasury securities market in violation of the Sherman Act, the US
Commodity Exchange Act and state common law. This action remains stayed.
Variable Rate Demand Obligations civil actions
Civil actions have been filed against Barclays Bank PLC and BCI and other financial institutions alleging the defendants
conspired or colluded to artificially inflate interest rates set for Variable Rate Demand Obligations (VRDOs). VRDOs are
municipal bonds with interest rates that reset on a periodic basis, most commonly weekly. An action in state court has been
filed by private plaintiffs on behalf of the state of California. A settlement in principle has been agreed in that action, subject
to court approval. This settlement is not material to the Barclays Bank Group's operating results, cash flows or financial
position. In addition, three purported class action complaints have been consolidated in the SDNY. In the consolidated SDNY
class action, certain of the plaintiffs\u2019 claims were dismissed in 2020 and 2022 and the plaintiffs\u2019 motion for class certification
was granted in 2023, which means the case may proceed as a class action. The defendants appealed and the decision was
affirmed by the Second Circuit in August 2025. The defendants have petitioned for US Supreme Court review.
Odd-lot corporate bonds antitrust class action
In 2020, BCI, together with other financial institutions, was named as a defendant in a purported class action in the US. The
complaint alleges a conspiracy to boycott developing electronic trading platforms for odd-lots and price fixing. The plaintiffs
demand unspecified money damages. The defendants\u2019 motion to dismiss was granted in 2021, which the plaintiffs
appealed. In July 2024, the Second Circuit vacated the judgment and remanded the case to the SDNY, where the plaintiffs
filed a second amended complaint in September 2024. The defendants' motion to dismiss was granted in its entirety in
September 2025. The parties have stipulated to the discontinuance of the action, thereby concluding the matter.
Credit Default Swap civil action
A purported antitrust class action is pending in New Mexico federal court against Barclays Bank PLC, BCI and various other
financial institutions. The plaintiffs, the New Mexico State Investment Council and certain New Mexico pension funds, allege
that the defendants conspired to manipulate the benchmark price used to value Credit Default Swap (CDS) contracts at
settlement (i.e. the CDS final auction price). The plaintiffs allege violations of US antitrust laws and the US Commodity
Exchange Act, and unjust enrichment under state law. The defendants\u2019 motion to dismiss was denied in 2023. In January
2024, the SDNY ruled that settlement in an earlier CDS antitrust litigation bars these plaintiffs from asserting claims based
on conduct occurring before 30 June 2014. The plaintiffs appealed to the Second Circuit and the appeal was denied in May
2025. The case has returned to New Mexico federal court and the defendants have filed a motion for judgment on the
pleadings.
Interest rate swap and credit default swap US civil actions
Barclays PLC, Barclays Bank PLC and BCI, together with other financial institutions that act as market makers for interest rate
swaps (IRS), are named as defendants in several antitrust actions, including one purported class action and individual
actions brought by certain swap execution facilities, which are consolidated in the SDNY. The complaints allege the
defendants conspired to prevent the development of exchanges for IRS and demand unspecified money damages. The
parties have reached a settlement of the class action, which received final court approval and was paid in 2024. The
individual claims are proceeding separately in the SDNY.
BDC Finance L.L.C.
In 2008, BDC Finance L.L.C. (BDC) filed a complaint in the Supreme Court of the State of New York, demanding damages of
$298m, alleging that Barclays Bank PLC had breached a contract in connection with a portfolio of total return swaps
governed by an ISDA Master Agreement. Following a trial, the court ruled in 2018 that Barclays Bank PLC was not a
defaulting party, which was affirmed on appeal. Barclays Bank PLC filed a counterclaim against BDC for damages, legal fees,
expenses and interest. In November 2025, the court granted Barclays' pretrial motion to exclude certain evidence. BDC is
appealing. A trial on damages will be scheduled.
Civil actions in respect of the US Anti-Terrorism Act
Eight civil actions, on behalf of more than 4,000 plaintiffs, were filed in US federal courts in the US District Court in the
Eastern District of New York (EDNY) and SDNY against Barclays Bank PLC and a number of other banks. The complaints
generally allege that Barclays Bank PLC and those banks engaged in a conspiracy to facilitate US dollar-denominated
transactions for the Iranian government and various Iranian banks, which in turn funded acts of terrorism that injured or
killed the plaintiffs or the plaintiffs\u2019 family members. The plaintiffs seek to recover damages for pain, suffering and mental
anguish under the US Anti-Terrorism Act, which allows for the trebling of any proven damages.
The court granted the defendants\u2019 motions to dismiss three out of the six actions in the EDNY. The plaintiffs appealed in one
action and the dismissal was affirmed, and judgment was entered, in 2023. The plaintiffs\u2019 motion to vacate the judgment
was denied in September 2025. The other two dismissed actions in the EDNY were consolidated into one action. The
plaintiffs in that action, and in one other action in the EDNY, filed amended complaints and the defendants' motion to
dismiss is fully briefed. The two other actions in the EDNY are currently stayed. Out of the two actions in the SDNY, the court
granted the defendants\u2019 motion to dismiss the first action. That action is stayed, and the second SDNY action is stayed
pending any appeal on the dismissal of the first.
Shareholder derivative action
In 2020, a purported Barclays shareholder filed a purported derivative action in New York state court against BCI and a
number of current and former members of the Board of Directors of Barclays PLC and senior executives or employees of the
Barclays Bank Group. The shareholder plaintiff filed the claim on behalf of nominal defendant Barclays PLC, alleging that the
individual defendants harmed the company through breaches of their duties, including under the Companies Act 2006. The
plaintiff sought damages on behalf of Barclays PLC for the losses that Barclays PLC allegedly suffered as a result of these
alleged breaches. An amended complaint was filed in 2021, which BCI and certain other defendants moved to dismiss. The
motion to dismiss was granted in 2022. The plaintiff appealed the decision, and the dismissal was unanimously affirmed in
2023 by the First Judicial Department in New York. The plaintiff appealed the First Judicial Department\u2019s decision to the New
York Court of Appeals. The dismissal was affirmed by the New York Court of Appeals in May 2025, concluding the matter. In
November 2025, the same plaintiff filed a new complaint in New York state court against the same defendants. Barclays has
not yet been served.
Skilled person review in relation to historical timeshare loans and associated matters
Clydesdale Financial Services Limited (CFSL), a subsidiary of the Group which trades as Barclays Partner Finance and houses
Barclays\u2019 point-of-sale finance business, was required by the FCA to undertake a skilled person review in 2020 following
concerns about historical affordability assessments for certain loans to customers in connection with timeshare purchases.
The skilled person review was concluded in 2021. CFSL complied fully with the skilled person review requirements, including
carrying out certain remediation measures. CFSL was not required to conduct a full back book review. Instead, CFSL
reviewed limited historical lending to ascertain whether its practices caused customer harm and has remediated any
examples of harm. This work was substantially completed during 2023, utilising provisions booked to account for any
remediations. This matter is now concluded.
Motor finance commission arrangements
From 2003 to late 2019, CFSL, a wholly-owned subsidiary of the Group, provided motor finance to customers in the UK. In
2020, CFSL was transferred from Barclays Bank PLC to Barclays Principal Investments Ltd (BPIL), another subsidiary of
Barclays PLC. Barclays Bank PLC has provided an intragroup indemnity to BPIL in respect of historical litigation and conduct
matters relating to CFSL.
In January 2024, the FCA appointed a skilled person to undertake a review of the historical use of discretionary commission
arrangements and sales in the motor finance market across several firms. This review followed two final decisions by the UK
Financial Ombudsman Service (FOS) and a number of complaints and court claims, including some against CFSL.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
On 7 October 2025, the FCA began consulting on an industry-wide compensation scheme for eligible motor finance
customers. Barclays has engaged with the FCA as part of its consultation process and the FCA has stated that, if it
introduces a redress scheme, it expects to publish a policy statement and final rules in February or March 2026, with
compensation to consumers beginning later in 2026. The FCA has indicated that it expects to lift the existing pause on the
handling of certain motor finance complaints on 31 May 2026, subject to the terms of the FCA redress scheme, if adopted.
Barclays considers it more likely than not that a redress scheme will be implemented by the FCA. As a result, Barclays has
recognised in CFSL a provision of \u00a3325m in respect of this matter as at 31 December 2025 (as at 31 December 2024:
\u00a390m). Recognising that the proposed terms of the FCA redress scheme are subject to consultation, in calculating potential
redress costs and the amount of provision required, Barclays has applied a weighted average of multiple scenarios, each
incorporating differing evaluations of the FCA's current proposals. The current provision reflects the estimated number of
motor finance cases falling within the scope of the FCA redress scheme as proposed by the FCA consultation paper (which
covers regulated motor finance agreements between 6 April 2007 and 1 November 2024 where a commission was payable
by the lender to the broker), the anticipated level of customer redress reflecting the FCA's proposed methodology, the
estimated customer response rate with reference to Barclays' previous remediation exercises and the costs associated with
implementing the FCA's proposed approach to customer engagement.
The final terms of the FCA redress scheme remain uncertain pending publication of the FCA's policy statement and final
scheme rules. Accordingly, the legal and regulatory outcomes and the nature, extent and timing of any remediation action, if
required, remain uncertain. The ultimate financial impact on Barclays could differ from the recognised provision, which
represents Barclays' best estimate of the cost of redress based on the information currently available to Barclays.
Over-issuance of securities in the US
In 2022, executive management became aware that Barclays Bank PLC had issued securities materially in excess of the set
amount under its US shelf registration statements.
In 2022, a purported class action claim was filed in the US District Court in Manhattan seeking to hold Barclays PLC, Barclays
Bank PLC and former and current executives responsible for declines in the price of Barclays PLC\u2019s American depositary
receipts, which the plaintiffs claim occurred as a result of alleged misstatements and omissions in its public disclosures. The
defendants\u2019 motion to dismiss the case was granted in part and denied in part in February 2024. The parties reached a
settlement in respect of such lawsuit, which has received final court approval and has been paid, concluding the matter. The
financial impact of this settlement is not material to the Barclays Bank Group\u2019s operating results, cash flows or financial
position.
In addition, holders of VXX ETNs have brought a purported class action in the SDNY against Barclays PLC, Barclays Bank
PLC, and former and current executives and board members in the US alleging, among other things, that Barclays\u2019 failure to
disclose that these ETNs were unregistered securities misled investors and that, as a result, Barclays is liable for the holders\u2019
alleged losses following the suspension of further sales and issuances of the ETNs. The plaintiffs were granted leave to
amend and filed a new complaint in March 2024. Barclays' motion to dismiss was granted in March 2025. The plaintiffs'
motion for reconsideration was denied in June 2025. The plaintiffs are appealing the decision.
In March 2024, a purported class action was filed in the SDNY against Barclays PLC, Barclays Bank PLC and former and
current executives. The plaintiff purports to bring claims on behalf of a class of short sellers, alleging that their short
positions suffered substantial losses when Barclays suspended new issuances and sales of VXX ETNs as a result of the over-
issuance of securities. Barclays' motion to dismiss was granted in March 2025. The plaintiff appealed the decision granting
Barclays' motion to dismiss and, in December 2025, the Second Circuit affirmed the dismissal.
HM Revenue & Customs (HMRC) assessments concerning UK Value Added Tax
In 2018, HMRC issued notices that have the effect of either removing certain Barclays overseas subsidiaries that have
operations in the UK from Barclays\u2019 UK VAT group or preventing them from joining it. Supplies between members of a UK
VAT group are generally free from VAT. The notices had both retrospective and prospective effect. Barclays appealed
HMRC\u2019s decisions to the First-Tier Tribunal (Tax Chamber) in relation to both the retrospective VAT assessments and the
ongoing VAT payments made since 2018. \u00a3181m of VAT (inclusive of interest) was assessed retrospectively by HMRC
covering the periods 2014 to 2018, of which approximately \u00a3128m is expected to be attributed to Barclays Bank UK PLC and
\u00a353m to Barclays Bank PLC. This retrospectively assessed VAT was paid in 2018 and an asset, adjusted to reflect expected
eventual recovery, is recognised. Since 2018 Barclays has paid, and recognised as an expense, VAT on intra-group supplies
from the relevant subsidiaries to the members of the VAT group. In respect of the ongoing VAT payments, the court upheld
HMRC\u2019s denial of the VAT grouping in August 2024. Barclays has appealed this decision to the Upper Tribunal.
FCA investigations concerning financial crime systems and controls and compliance with the Money Laundering
Regulations
The FCA conducted civil enforcement investigations into Barclays Bank PLC\u2019s and Barclays Bank UK PLC\u2019s compliance with
the Money Laundering Regulations and the FCA's Principles of Business and Rules relating to anti-money laundering and
financial crime systems and controls. The FCA's investigation of Barclays Bank PLC focused primarily on the historical
oversight and management of a customer with heightened risk. In July 2025, Barclays Bank PLC agreed a settlement with the
FCA to resolve the investigation. At the same time, Barclays Bank UK PLC reached a settlement with the FCA in a separate
investigation concerning the onboarding of a client money account for an FCA-regulated firm. The FCA recognised Barclays'
cooperation in both matters, which are now concluded.
UK bank levy
In November 2024, HMRC updated its published guidance on the treatment of beneficiary accounts for the purposes of the
exclusion of protected deposits from the UK bank levy charge. HMRC\u2019s interpretation of the UK bank levy legislation differs
from Barclays\u2019 interpretation of the legislation, which has been applied in Barclays\u2019 UK bank levy returns and which Barclays
continues to consider is correct. In December 2024, HMRC wrote to notify Barclays of its intention to challenge this
treatment. Whilst engagement with HMRC continued during 2025, discussions remain at a relatively early stage and
assessments have not yet been issued.
Potential indemnity claim relating to the sale of Barclays Consumer Bank Europe
In January 2025, Barclays Bank Ireland PLC completed the sale of certain assets and liabilities, specifically the Consumer
Bank Europe, its German consumer finance business, to BAWAG P.S.K., a wholly-owned subsidiary of BAWAG Group AG
(BAWAG). As part of the transaction, Barclays Bank Ireland PLC provided BAWAG with a capped indemnity in relation to
transfer taxes on certain assets. Discussions with the relevant taxation authority are ongoing and are at an early stage. No
formal assessment has been issued.
General
The Barclays Bank Group is engaged in various other legal, competition and regulatory matters in the UK, the US and a
number of other overseas jurisdictions. It is subject to legal proceedings brought by and against the Barclays Bank Group
which arise in the ordinary course of business from time to time, including (but not limited to) disputes in relation to
contracts, securities, guarantees, debt collection, consumer credit, fraud, trusts, client assets, competition, data
management and protection, intellectual property, money laundering, financial crime, employment, environmental and other
statutory and common law issues.
The Barclays Bank Group is also subject to enquiries and examinations, requests for information, audits, investigations and
legal and other proceedings by regulators, governmental and other public bodies in connection with (but not limited to)
consumer protection measures, measures to combat money laundering and financial crime, compliance with legislation and
regulation, wholesale trading activity and other areas of banking and business activities in which the Barclays Bank Group is
or has been engaged. The Barclays Bank Group is cooperating with the relevant authorities and keeping all relevant agencies
briefed as appropriate in relation to these matters and others described in this note on an ongoing basis.
At the present time, the Barclays Bank Group does not expect the ultimate resolution of any of these other matters to have a
material adverse effect on its financial position. However, in light of the uncertainties involved in such matters and the
matters specifically described in this note, there can be no assurance that the outcome of a particular matter or matters
(including formerly active matters or those matters arising after the date of this note) will not be material to Barclays Bank
PLC\u2019s results, operations or cash flows for a particular period, depending on, among other things, the amount of the loss
resulting from the matter(s) and the amount of profit otherwise reported for the reporting period.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-596": { "value": "Subordinated liabilities
Accounting for subordinated liabilities
Subordinated liabilities are measured at amortised cost using the effective interest method under IFRS 9, unless they are
irrevocably designated at fair value through profit or loss at initial recognition because such designation eliminates or
significantly reduces an accounting mismatch. Refer to Note 15 for details about accounting for liabilities designated at fair
value through profit or loss.
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
At amortised cost
As at 1 January
41,875
35,903
Issuances
9,808
11,222
Redemptions
(5,665)
(5,067)
Other
(779)
(183)
As at 31 December
45,239
41,875
Designated at fair value (Note 15)
587
537
Total subordinated liabilities
45,826
42,412
Issuances of \u00a39,808m comprise \u00a39,139m intra-group loans from Barclays PLC, \u00a3669m EUR 4.616% Fixed Rate Resetting
Subordinated Callable Notes issued to Barclays PLC .
Redemptions of \u00a35,665m comprise \u00a35,438m intra-group loans from Barclays PLC, \u00a3115m SGD 3.750% Fixed Rate Resetting
Subordinated Callable Notes issued to Barclays PLC and \u00a3112m USD Floating Rate Notes issued externally by a Barclays
Bank PLC subsidiary.
Other movements predominantly comprise foreign exchange movements and fair value hedge adjustments.
Subordinated liabilities include accrued interest and comprise undated and dated subordinated liabilities as follows:
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Undated subordinated liabilities
127
134
Dated subordinated liabilities
45,699
42,278
Total subordinated liabilities
45,826
42,412
None of the Barclays Bank Group\u2019s or Barclays Bank PLC's subordinated liabilities are secured.
Undated subordinated liabilities1
Barclays Bank Group
2025
2024
Initial call date
\u00a3m
\u00a3m
Barclays Bank PLC externally issued subordinated liabilities
Undated Notes
6.125% Undated Subordinated Notes
2027
35
35
Undated Loans
5.03% Reverse Dual Currency Undated Subordinated Loan ( JPY\u00a08,000m)
2028
37
40
5% Reverse Dual Currency Undated Subordinated Loan ( JPY\u00a012,000m)
2028
55
59
Total undated subordinated liabilities
127
134
Note
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 1\u00a0 Instrument values are disclosed to the nearest million.
Undated subordinated liabilities
Undated subordinated liabilities are issued by Barclays Bank PLC for the development and expansion of their businesses and
to strengthen their capital bases. The principal terms of the undated subordinated liabilities are described below:
Subordination
All undated subordinated liabilities rank behind the claims against the bank of depositors and other unsecured
unsubordinated creditors and holders of dated subordinated liabilities.
Interest
All undated subordinated liabilities bear a fixed rate of interest until the initial call date.
After the initial call date, in the event that they are not redeemed, the 6.125% Undated Notes will bear interest at rates fixed
periodically in advance for five-year periods based on market rates. After the initial call date, in the event that they are not
redeemed, all other undated loans will bear interest at rates fixed periodically in advance based on market rates.
Payment of interest
Barclays Bank PLC is not obliged to make a payment of interest on its Undated Notes and Loans if, in the preceding six
months, a dividend has not been declared or paid on any class of shares of Barclays PLC or, in certain cases, any class of
preference shares of Barclays Bank PLC. Interest not paid becomes payable in each case if such a dividend is subsequently
paid or in certain other circumstances. During the year, Barclays Bank PLC paid interest on each of its Undated Notes and
Loans.
No payment of principal or any interest may be made unless Barclays Bank PLC satisfies a specified solvency test.
Repayment
All undated subordinated liabilities are repayable at the option of Barclays Bank PLC in whole at the initial call date and on
any fifth anniversary after the initial call date. In addition, each issue of undated subordinated liabilities is repayable, at the
option of Barclays Bank PLC, in whole for certain tax reasons, either at any time, or on an interest payment date. There are
no events of default except non-payment of principal or mandatory interest. Any repayments require the prior consent of
the PRA.
Other
All issues of undated subordinated liabilities are non-convertible.
Dated subordinated liabilities1
Barclays Bank Group
2025
2024
Initial call
date
Maturity date
\u00a3m
\u00a3m
Barclays Bank PLC externally issued subordinated liabilities
5.75% Fixed Rate Subordinated Notes
2026
279
279
5.4% Reverse Dual Currency Subordinated Loan ( JPY 15,000m)
2027
71
76
6.33% Subordinated Notes ( GBP 50m)
2032
46
45
Subordinated Floating Rate Notes (EUR 68m)
2040
59
56
External issuances by other subsidiaries
492
623
Barclays Bank PLC notes issued intra-group to Barclays PLC
3.75% Fixed Rate Resetting Subordinated Callable Notes ( SGD 200m)
2025
2030
\u2014
117
5.20% Fixed Rate Subordinated Notes ( USD 1,367m)
2026
1,015
1,051
1.125% Fixed Rate Resetting Subordinated Callable Notes ( EUR 1,000m)
2026
2031
876
810
4.836% Fixed Rate Subordinated Notes ( USD 1,200m)
2027
2028
883
920
8.407% Fixed Rate Resetting Subordinated Callable Loan (GBP 1,000m)
2027
2032
1,022
1,008
5.088% Fixed-to-Floating Rate Subordinated Callable Notes ( USD 1,300m)
2029
2030
920
941
4.973% Fixed Rate Resetting Subordinated Callable Notes (EUR 1,500m)
2031
2036
1,367
1,320
7.437% Fixed Rate Resetting Subordinated Callable Notes (USD 2,000m)
2032
2033
1,514
1,573
4.616% Fixed Rate Resetting Subordinated Callable Notes (EUR 800m)
2032
2037
719
\u2014
5.262% Fixed Rate Resetting Subordinated Callable Notes (EUR 1,250m)
2033
2034
1,162
1,130
7.119% Fixed-to-Floating Rate Subordinated Callable Notes (USD 860m)
2033
2034
632
655
3.811% Fixed Rate Resetting Subordinated Callable Notes ( USD 1,000m)
2041
2042
558
586
5.25% Fixed Rate Subordinated Notes ( USD 827m)
2045
382
408
4.95% Fixed Rate Subordinated Notes ( USD 1,250m)
2047
510
556
Floating Rate Subordinated Notes (USD 456m)
2047
345
370
Barclays Bank PLC intra-group loans from Barclays PLC
Various Fixed Rate Subordinated Loans
2,557
3,457
Various Subordinated Floating Rate Loans
\u2014
334
Various Fixed Rate Subordinated Callable Loans
27,121
24,401
Various Subordinated Floating Rate Callable Loans
2,663
1,025
Various Zero Coupon Callable Loans
506
537
Total dated subordinated liabilities
45,699
42,278
\u00a0 \u00a0 \u00a0 \u00a0 Note
1\u00a0 Instrument values are disclosed to the nearest million.
Dated subordinated liabilities
Dated subordinated liabilities are issued by Barclays Bank PLC and its subsidiaries for the development and expansion of
their businesses and to strengthen their respective capital bases. The principal terms of the dated subordinated liabilities are
described below:
Currency and maturity
In addition to the individual dated subordinated liabilities listed in the Barclays Bank Group table, the \u00a332,847m ( 2024:
\u00a329,754m ) of intra-group loans is made up of various fixed, floating and zero coupon loans from Barclays PLC with notional
amounts denominated in USD 29,323m, EUR 9,180m, GBP 1,206m , JPY 159,700m, AUD 2,390m , NOK 220m , CAD 450m,
CNH 700m and CHF 260m, with maturities ranging from 2026 to 2055. Certain intra-group loans have a call date one year
prior to their maturity. Dated floating rate subordinated liabilities externally issued by Barclays Bank PLC subsidiaries \u00a3492m
(2024: \u00a3623m)\u00a0 with maturities ranging from 2026 to 2032.
Subordination
All dated subordinated liabilities, both externally issued and issued intra-group to Barclays PLC, rank behind the claims
against Barclays Bank PLC of depositors and other unsecured unsubordinated creditors but before the claims of the undated
subordinated liabilities and the holders of Barclays Bank PLC equity. The Barclays Bank PLC intra-group loans from Barclays
PLC rank pari passu amongst themselves but ahead of the Barclays Bank PLC notes issued intra-group to Barclays PLC and
the Barclays Bank PLC externally issued subordinated liabilities. The external dated subordinated liabilities issued by
subsidiaries are similarly subordinated as the external subordinated liabilities issued by Barclays Bank PLC.
Interest
Interest on floating rate notes and loans is set by reference to market rates at the time of issuance and fixed periodically in
advance, based on the related market rates.
Interest on fixed rate notes and loans is set by reference to market rates at the time of issuance and fixed until maturity.
Interest on fixed rate callable notes and loans is set by reference to market rates at the time of issuance and fixed until the
call date or maturity as applicable. After the call date (where relevant), in the event that the notes or loans are not redeemed,
the interest rate will be reset to either a fixed or floating rate until maturity based on market rates .
No interest is paid on zero coupon loans.
Repayment
Those subordinated liabilities with a call date are repayable at the option of Barclays Bank PLC on such call date in
accordance with the conditions governing the respective debt obligations, some in whole or in part, and some only in whole,
or otherwise on maturity. The remaining dated subordinated liabilities outstanding at 31\u00a0December 2025 are redeemable
only on maturity, subject, in particular cases, to provisions allowing an early redemption in the event of certain changes in
tax law or to certain changes in legislation or regulations.
Any repayments prior to maturity may require, in the case of Barclays Bank PLC, the prior consent of the PRA or BoE or, in
the case of the overseas issues, the consent of the local regulator for that jurisdiction and of the PRA in certain
circumstances.
There are no committed facilities in existence at the balance sheet date which permit the refinancing of debt beyond the
date of maturity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSubordinatedLiabilitiesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-597": { "value": "
Accounting for subordinated liabilities
Subordinated liabilities are measured at amortised cost using the effective interest method under IFRS 9, unless they are
irrevocably designated at fair value through profit or loss at initial recognition because such designation eliminates or
significantly reduces an accounting mismatch. Refer to Note 15 for details about accounting for liabilities designated at fair
value through profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-598": { "value": "Ordinary shares, preference shares and other equity
Called up share capital, allotted and fully paid and other equity instruments
Barclays Bank Group and Barclays Bank PLC
Barclays Bank
Group
Barclays Bank
PLC
Ordinary share
capital
Preference share
capital
Total share
capital
Other equity
instruments
Other equity
instruments
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 1 January 2025
2,342
6
2,348
9,604
14,311
AT1 securities issuance
\u2014
\u2014
\u2014
2,770
2,770
AT1 securities redemption
\u2014
\u2014
\u2014
(1,928)
(1,928)
Repurchase of shares
\u2014
(2)
(2)
\u2014
\u2014
As at 31 December 2025
2,342
4
2,346
10,446
15,153
As at 1 January 2024
2,342
6
2,348
10,765
15,472
AT1 securities issuance
\u2014
\u2014
\u2014
970
970
AT1 securities redemption
\u2014
\u2014
\u2014
(2,131)
(2,131)
As at 31 December 2024
2,342
6
2,348
9,604
14,311
Ordinary shares
The issued ordinary share capital of Barclays Bank PLC, as at 31\u00a0December 2025, comprised 2,342m (2024 : 2,342m )
ordinary shares of \u00a31 each.
Preference shares
The issued preference share capital of Barclays Bank PLC, as at 31\u00a0December 2025 , comprised 58,133 US Dollar Preference
Shares of $100 each (2024 : 58,133).
Ordinary share capital and preference share capital constitutes 100% (2024: 100%) of total share capital issued.
Euro Preference Shares
140,000 Euro non-cumulative callable preference shares of \u20ac100 each (the Euro Preference Shares) were issued on 15
March 2005 for a consideration of \u20ac1,383.3m (\u00a3966.7m), of which the nominal value was \u20ac14m and the balance was share
premium. The Euro Preference Shares entitled the holders thereof to receive Euro non-cumulative cash dividends out of
distributable profits of Barclays Bank PLC, annually at a fixed rate of 4.75% per annum on the amount of \u20ac10,000 per
preference share until 15 March 2020, and since 15 March 2020 quarterly at a rate reset quarterly equal to 0.71% per
annum above the Euro interbank offered rate for three-month Euro deposits. The board of directors of Barclays Bank PLC
were able to resolve, in its absolute discretion, not to pay in full, or at all, the dividend on the Euro Preference Shares in
respect of a particular dividend period.
The Euro Preference Shares were redeemable at the option of Barclays Bank PLC, in whole but not in part only, on each
dividend payment date at \u20ac10,000 per share plus any dividends accrued for the then current dividend period to the date
fixed for redemption.
On 16 of June 2025, Barclays Bank PLC redeemed and cancelled the outstanding 4.75% Euro non-cumulative callable
preference shares, the principal outstanding was EUR 319m.
US Dollar Preference Shares
100,000 US Dollar non-cumulative callable preference shares of $100 each (the US Dollar Preference Shares), represented
by 100,000 American Depositary Shares, Series 1, were issued on 8 June 2005 for a consideration of $995.4m (\u00a3548.1m), of
which the nominal value was $10m and the balance was share premium. The US Dollar Preference Shares entitle the holders
thereof to receive US Dollar non-cumulative cash dividends out of distributable profits of Barclays Bank PLC, semi-annually
at a fixed rate of 6.278% per annum on the amount of $10,000 per preference share until 15 December 2034, and thereafter
quarterly at a rate reset quarterly equal to 1.55% per annum above the London interbank offered rate for three-month US
Dollar deposits. The board of directors of Barclays Bank PLC may resolve, for any reason and in its absolute discretion, not to
declare or pay in full or in part any dividends on the US Dollar Preference Shares in respect of a particular dividend period.
The US Dollar Preference Shares are redeemable at the option of Barclays Bank PLC, in whole but not in part only, on 15
December 2034, and on each dividend payment date thereafter at $10,000 per share plus any dividends accrued for the
then current dividend period to the date fixed for redemption.
No redemption or purchase of any US Dollar Preference Shares may be made by Barclays Bank PLC without the prior
consent of the PRA and any such redemption will be subject to the Companies Act 2006 and the Articles of Barclays Bank
PLC.
On a winding-up of Barclays Bank PLC or other return of capital (other than a redemption or purchase of shares of Barclays
Bank PLC, or a reduction of share capital), a holder of US Dollar Preference Shares will rank in the application of assets of
Barclays Bank PLC available to shareholders: (1) junior to the holder of any shares of Barclays Bank PLC in issue ranking in
priority to the US Dollar Preference Shares; (2) equally in all respects with holders of other preference shares and any other
shares of Barclays Bank PLC in issue ranking pari passu with the US Dollar Preference Shares; and (3) in priority to the
holders of ordinary shares and any other shares of Barclays Bank PLC in issue ranking junior to the US Dollar Preference
Shares.
Subject to such ranking, in such event, holders of the US Dollar Preference Shares will be entitled to receive out of assets of
Barclays Bank PLC available for distributions to shareholders, liquidating distributions in the amount of $10,000 per US
Dollar Preference Share, plus, in each case, an amount equal to the accrued dividend for the then current dividend period to
the date of the commencement of the winding-up or other such return of capital.
If a dividend is not paid in full on any preference shares on any dividend payment date, then a dividend restriction shall
apply. This dividend restriction will mean that neither Barclays Bank PLC nor Barclays PLC may (a) declare or pay a dividend
(other than payment by Barclays PLC of a final dividend declared by its shareholders prior to the relevant dividend payment
date, or a dividend paid by Barclays Bank PLC to Barclays PLC) on any of their respective ordinary shares, other preference
shares or other share capital or (b) redeem, purchase, reduce or otherwise acquire any of their respective share capital, other
than shares of Barclays Bank PLC held by Barclays PLC or a wholly owned subsidiary, until the earlier of: (1) the date on
which Barclays Bank PLC next declares and pays in full a preference share dividend; and (2) the date on or by which all the
preference shares are redeemed in full or purchased by Barclays Bank PLC.
Holders of the US Dollar Preference Shares are not entitled to receive notice of, or to attend, or vote at, any general meeting
of Barclays Bank PLC. Barclays Bank PLC is not permitted to create a class of shares ranking as regards participation in the
profits or assets of Barclays Bank PLC in priority to the preference shares, save with the sanction of a special resolution of a
separate general meeting of the holders of the US Dollar Preference Shares (requiring a majority of not less than three-
fourths of the holders of the US Dollar Preference Shares voting at the separate general meeting) or with the consent in
writing of the holders of three-fourths of the US Dollar Preference Shares.
Except as described above, the holders of the US Dollar Preference Shares have no right to participate in the surplus assets of
Barclays Bank PLC.
Other equity instruments
Other equity instruments issued by Barclays Bank PLC of \u00a315,153m (2024: \u00a314,311m) include AT1 securities issued to
Barclays PLC and borrowings of $6bn from a wholly-owned, indirect subsidiary of Barclays Bank PLC. As a result, the other
equity instruments balance recorded by Barclays Bank Group is \u00a310,446m (2024: \u00a39,604m).
The borrowings of $6bn from a wholly-owned, indirect subsidiary of Barclays Bank PLC have been recorded as equity since,
under their terms, interest payments are non cumulative and discretionary whilst repayment of principal is perpetually
deferrable by Barclays Bank PLC. Should Barclays Bank PLC make a discretionary dividend payment on its ordinary shares in
the six months preceding the date of an interest payment, it will be obliged to make that interest payment. In 2025, interest
paid on these borrowings was \u00a3386m (2024: \u00a3433m).
Barclays PLC uses funds from its own market issuance of AT1 securities to purchase AT1 securities from the Barclays Bank
Group. The AT1 securities are perpetual securities with no fixed maturity and are structured to qualify as AT1 instruments
under prevailing capital rules applicable as at the relevant issue date.
In 2025, there were three issuances of AT1 instruments, in the form of Fixed Rate Resetting Perpetual Subordinated
Contingent Convertible Securities, for \u00a32,770m (2024: two issuances for \u00a3970m) which includes issuance costs of \u00a328m
(2024: \u00a310m). There were three redemptions in 2025 totalling \u00a31,928m (2024: two redemptions totalling \u00a32,131m).
AT1 equity instruments
2025
2024
Initial call date
\u00a3m
\u00a3m
AT1 equity instruments - Barclays Bank Group
7.125% Perpetual Subordinated Contingent Convertible Securities
2025
\u2014
299
6.375% Perpetual Subordinated Contingent Convertible Securities
2025
\u2014
495
6.125% Perpetual Subordinated Contingent Convertible Securities ( USD1,500m)
2025
\u2014
1,134
8.875% Perpetual Subordinated Contingent Convertible Securities
2027
1,237
1,237
8.300% Perpetual Subordinated Contingent Convertible Securities ( SGD450m)
2027
263
263
4.375% Perpetual Subordinated Contingent Convertible Securities ( USD1,500m)
2028
1,072
1,072
7.300% Perpetual Subordinated Contingent Convertible Securities ( SGD400m)
2028
247
247
9.250% Perpetual Subordinated Contingent Convertible Securities
2028
866
866
8.000% Perpetual Subordinated Contingent Convertible Securities ( USD2,000m)
2029
1,634
1,634
9.625% Perpetual Subordinated Contingent Convertible Securities ( USD1,750m)
2029
1,386
1,386
5.400% Perpetual Subordinated Contingent Convertible Securities ( SGD600m)
2030
352
352
8.500% Perpetual Subordinated Contingent Convertible Securities
2030
619
619
4.650% Perpetual Subordinated Contingent Convertible Securities (SGD500m)
2031
288
\u2014
7.625% Perpetual Subordinated Contingent Convertible Securities (USD1,500m)
2035
1,174
\u2014
6.125% Perpetual Subordinated Contingent Convertible Securities (EUR1,500m)
2035
1,308
\u2014
10,446
9,604
The principal terms of the AT1 securities are described below:
\u2022 AT1 securities rank behind the claims against Barclays Bank PLC i) of all creditors of Barclays Bank PLC; ii) such claims of
holders of any preference shares issued by Barclays Bank PLC; in the case of each of i) and ii) above, other than claims
which rank, or are expressed to rank, pari passu with, or junior to, the claims of holders of the AT1 securities of Barclays
Bank PLC; and iii) of holders of instruments which count towards Tier 2 capital of Barclays Bank PLC.
\u2022 AT1 securities are undated and are redeemable, at the option of Barclays Bank PLC, in whole on either (i) the initial reset
date, or on any fifth anniversary after the initial reset date or (ii) any day falling in a named period ending on the initial
reset date, or on any fifth anniversary after the initial reset date. In addition, the AT1 securities are redeemable, at the
option of Barclays Bank PLC, in whole in the event of certain changes in the tax or regulatory treatment of the securities
and, in certain cases, on a clean-up call. Any redemptions require the prior permission of the PRA.
\u2022 Interest on the AT1 securities is due and payable only at the sole discretion of Barclays Bank PLC, and Barclays Bank PLC
has sole and absolute discretion at all times and for any reason to cancel (in whole or in part) any interest payment that
would otherwise be payable on any interest payment date.
\u2022 The Additional Tier 1 securities shall convert into ordinary shares of Barclays Bank PLC, at a predetermined price, should
the fully loaded CET1 Ratio of Barclays Bank PLC at the solo-consolidated level or the sub-consolidated level fall below 7%.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-599": { "value": "
Called up share capital, allotted and fully paid and other equity instruments
Barclays Bank Group and Barclays Bank PLC
Barclays Bank
Group
Barclays Bank
PLC
Ordinary share
capital
Preference share
capital
Total share
capital
Other equity
instruments
Other equity
instruments
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 1 January 2025
2,342
6
2,348
9,604
14,311
AT1 securities issuance
\u2014
\u2014
\u2014
2,770
2,770
AT1 securities redemption
\u2014
\u2014
\u2014
(1,928)
(1,928)
Repurchase of shares
\u2014
(2)
(2)
\u2014
\u2014
As at 31 December 2025
2,342
4
2,346
10,446
15,153
As at 1 January 2024
2,342
6
2,348
10,765
15,472
AT1 securities issuance
\u2014
\u2014
\u2014
970
970
AT1 securities redemption
\u2014
\u2014
\u2014
(2,131)
(2,131)
As at 31 December 2024
2,342
6
2,348
9,604
14,311
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-600": { "value": "Reserves
Currency translation reserve
The currency translation reserve represents the cumulative gains and losses on the retranslation of net investments in
foreign operations, net of the effects of hedging.
Fair value through other comprehensive income reserve
The fair value through other comprehensive income reserve represents the changes in the fair value of financial instruments
accounted for at fair value through other comprehensive income investments since initial recognition.
Cash flow hedging reserve
The cash flow hedging reserve represents the cumulative gains and losses on effective cash flow hedging instruments that
will be recycled to the income statement when the hedged transactions affect profit or loss.
Own credit reserve
The own credit reserve reflects the cumulative own credit gains and losses on financial liabilities at fair value. Amounts in the
own credit reserve are not recycled to profit or loss in future periods.
Other reserves
Other reserves includes a merger reserve relating to inter-Barclays Group entity transfers, and redeemed ordinary and
preference shares issued by the Barclays Bank Group.
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Currency translation reserve
2,534
3,690
Fair value through other comprehensive income reserve
(1,014)
(1,681)
Cash flow hedging reserve
(907)
(2,448)
Own credit reserve
(990)
(1,059)
Other reserves
198
196
Total
(179)
(1,302)
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-601": { "value": "Staff costs
Accounting for staff costs
Deferred cash and share awards are made to employees to incentivise performance over the period employees provide
services. To receive an award, an individual must have provided service over the vesting period and been employed on the
scheduled vesting date or be considered an eligible leaver. The expense for deferred cash and share awards is recognised
over the period employees\u2019 services contribute to the awards. The Barclays Bank Group considers it appropriate to recognise
the expense over the vesting period including the financial year prior to the grant date.
The accounting policies for share-based payments and retirement benefits are included in Note 29 and Note 30 respectively.
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Performance costs
1,555
1,436
1,308
Salaries
2,667
2,766
2,921
Social security costs
414
381
374
Retirement benefits1
348
329
298
Other compensation costs
228
237
221
Total compensation costs2
5,212
5,149
5,122
Other resourcing costs
Outsourcing
203
198
206
Redundancy and restructuring
90
137
176
Temporary staff costs
17
16
22
Other
63
56
65
Total other resourcing costs
373
407
469
Total staff costs
5,585
5,556
5,591
Notes
1 Retirement benefits charge includes \u00a3172m (2024: \u00a3178m; 2023: \u00a3180m) with respect to defined contribution schemes and \u00a3176m (2024:
\u00a3151m; 2023: \u00a3118m ) with respect to defined benefit schemes.
2\u00a0 \u00a3328m (2024: \u00a3324m; 2023: \u00a3259m) of compensation cost was capitalised as internally generated software.
Retirement benefits
Accounting for retirement benefits
The Barclays Bank Group operates a number of pension schemes and post-employment benefit schemes.
Defined contribution \u2013 the Barclays Bank Group recognises contributions due in respect of the accounting period in the
income statement. Any contributions unpaid at the balance sheet date are included as a liability.
Defined benefit \u2013 the Barclays Bank Group recognises its obligations to members of each scheme at the period end, less the
fair value of the scheme assets after applying the asset ceiling test.
Each scheme\u2019s obligations are calculated using the projected unit credit method. Scheme assets are stated at fair value as at
the period end.
Changes in pension scheme liabilities or assets (remeasurements) that do not arise from regular pension cost, net interest
on net defined benefit liabilities or assets, past service costs, settlements or contributions to the scheme are recognised in
other comprehensive income. Remeasurements comprise experience adjustments (differences between previous actuarial
assumptions and what has actually occurred), the effects of changes in actuarial assumptions, return on scheme assets
(excluding amounts included in the interest on the assets) and any changes in the effect of the asset ceiling restriction
(excluding amounts included in the interest on the restriction).
The cost of providing healthcare benefits to retired employees is accrued as a liability in the financial statements over the
period that the employees provide services to the Barclays Bank Group, using a methodology similar to that for defined
benefit pension schemes.
Pension schemes
UK Retirement Fund (UKRF)
The UKRF is the Barclays Bank Group\u2019s main scheme, representing 96% (2024: 96% ) of the Barclays Bank Group\u2019s total
retirement benefit obligations.
Between 1 January 2025 and 30 June 2025, Barclays Bank PLC was the principal employer of the UKRF, with Barclays Bank
UK PLC and Barclays Execution Services Limited as the participating employers.
From 1 July 2025 the UKRF was amended to become a sectionalised scheme to meet the requirements of the Financial
Services and Markets Act 2000 (Banking Reform) (Pensions) Regulations 2015, creating two separate sections - the Barclays
Bank Section and the Barclays UK Section. From 1 July 2025, Barclays Bank PLC participates in the Barclays Bank Section only
(as principal employer). As a result of sectionalisation, \u00a3750m of UKRF assets were allocated to the Barclays UK Section,
along with \u00a3697m of benefit obligation relating to Barclays Bank UK PLC active employees. This resulted in a settlement loss
of \u00a353m impacting profit before tax for the Barclays Bank Group. The sectionalisation means that Barclays Bank PLC is
separated from any exposure to the Barclays UK Section of the UKRF.
The UKRF was closed to new entrants on 1 October 2012, and comprises a number of different benefit categories, the two
most significant of which are:
\u25aa Afterwork,\u00a0which comprises a contributory cash balance defined benefit element, and a voluntary defined contribution
element. The cash balance element is accrued each year and revalued until Normal Retirement Age in line with the
increase in Retail Price Index (RPI) (up to a maximum of 5% p.a.). The risks that the Barclays Bank Group is exposed to in
relation to Afterwork are limited although additional contributions are required if pre-retirement investment returns are
not sufficient to provide for the benefits.
\u25aa The 1964 Pension Scheme. Most UK employees recruited before July 1997 built up benefits in this non-contributory
defined benefit scheme in respect of service up to 31 March 2010. Pensions were calculated by reference to service and
pensionable salary. From 1 April 2010, members became eligible to accrue future service benefits in either Afterwork or
the Pension Investment Plan, a historic defined contribution section which is now closed to future contributions. The risks
that the Barclays Bank Group is exposed to in relation to the 1964 Pension Scheme are typical of final salary pension
schemes, principally that investment returns fall short of expectations, that inflation exceeds expectations, and that
retirees live longer than expected.
Barclays Pension Savings Plan (BPSP)
The BPSP is a defined contribution scheme providing benefits for all new UK hires from 1 October 2012. BPSP is not subject
to the same investment return, inflation or life expectancy risks for the Barclays Bank Group that defined benefit schemes
are. Members\u2019 benefits reflect contributions paid and the level of investment returns achieved.
Other
Apart from the UKRF and the BPSP, the Barclays Bank Group operates a number of smaller pension and long-term employee
benefits and post-retirement healthcare plans globally, the largest of which are the US defined benefit and defined
contribution schemes. Many of the schemes are funded, with assets backing the obligations held in separate legal vehicles
such as trusts. Others are operated on an unfunded basis. The benefits provided, the approach to funding, and the legal
basis of the schemes, reflect local environments.
Governance
The UKRF operates under trust law and is managed and administered on behalf of the members in accordance with the
terms of the Trust Deed and Rules and all relevant legislation. The Trustee is Barclays Pension Funds Trustees Limited, a
private limited company and a wholly owned subsidiary of Barclays Bank PLC. The Trustee is the legal owner of the assets of
the UKRF which are held separately from the assets of the Barclays Bank Group.
The Trustee of the UKRF comprises six Management Directors selected by Barclays Bank PLC, of whom three are
independent Directors with no relationship with the Barclays Bank Group (and who are not members of the UKRF), plus
three Member Nominated Directors selected from eligible active, deferred or pensioner members of the UKRF, who apply for
the role.
The BPSP is a group personal pension arrangement which operates as a collection of personal pension plans. Each personal
pension plan is a direct contract between the employee and the BPSP provider (Legal & General Assurance Society Limited),
and is regulated by the FCA.
Similar principles of pension governance apply to the Barclays Bank Group\u2019s other pension schemes, depending on local
legislation.
Amounts recognised
The following tables include amounts recognised in the income statement and an analysis of benefit obligations and scheme
assets for all Barclays Bank Group defined benefit schemes. The net position is reconciled to the assets and liabilities
recognised on the balance sheet. The tables include funded and unfunded post-retirement benefits. The income statement
charge with respect to defined contribution schemes is disclosed as part of footnotes to Note 28 Staff costs.
Income statement charge/(credit)
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Current service cost
122
150
119
Net finance income
(163)
(157)
(222)
Curtailments or Settlements1
53
\u2014
\u2014
Other movements
1
1
(1)
Total
13
(6)
(104)
Note
1\u00a0 Settlement loss arising from allocation of a portion of the UKRF assets and liabilities to the Barclays UK Section of the UKRF on account of
sectionalisation effective from 1 July 2025, for which Barclays Bank UK PLC are now responsible for.
Barclays Bank PLC is the principal employer of the Barclays Bank Section of the UKRF (and the Whole of the UKRF until
H1'2025) and hence Scheme Assets and Defined Benefit Obligations relating to the Barclays Bank Section of the UKRF are
recognised within the Barclays Bank Group. Where Barclays Bank PLC is the principal employer, participating employers
Barclays Bank UK PLC (until H1'2025) and Barclays Execution Services Limited bear their share of the service cost. Of the
\u00a3135m current service cost in the table below, \u00a39m relates to Barclays Bank UK PLC and \u00a34m relates to Barclays Execution
Services Limited. While the entire current service cost obligation is accounted for in the Barclays Bank Group, the income
statement charge is accounted for across all the participating employers.
From 1 July 2025, current service cost and obligation attributable to Barclays Bank UK PLC are not included within the results
of\u00a0 Barclays Bank Group.
Balance sheet reconciliation
2025
2024
Barclays Bank
Group Total
Of which relates to
Barclays Bank
Section of the
UKRF
Barclays Bank
Group Total
Of which relates to
UKRF
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Benefit obligation at beginning of the year
(19,524)
(18,729)
(21,420)
(20,618)
Current service cost
(135)
(120)
(168)
(155)
Interest costs on scheme liabilities
(1,005)
(975)
(930)
(901)
Curtailments or settlements1
697
697
\u2014
\u2014
Remeasurement gain - financial
541
546
1,804
1,797
Remeasurement (loss)/gain - demographic
(59)
(47)
12
13
Remeasurement loss - experience
(197)
(203)
(55)
(54)
Employee contributions
(5)
\u2014
(6)
\u2014
Benefits paid
1,197
1,158
1,226
1,189
Exchange and other movements
15
(1)
13
\u2014
Benefit obligation at end of the year
(18,475)
(17,674)
(19,524)
(18,729)
Fair value of scheme assets at beginning of the year
22,623
21,928
24,914
24,234
Interest income on scheme assets
1,168
1,143
1,087
1,062
Employer contribution
29
16
37
22
Settlements1
(750)
(750)
\u2014
\u2014
Remeasurement - return on scheme assets less than
discount rate
(299)
(310)
(2,192)
(2,184)
Employee contributions
5
\u2014
6
\u2014
Benefits paid
(1,189)
(1,158)
(1,221)
(1,189)
Exchange and other movements
(29)
(14)
(8)
(17)
Fair value of scheme assets at end of the year
21,558
20,855
22,623
21,928
Net surplus
3,083
3,181
3,099
3,199
Retirement benefit assets
3,240
3,181
3,263
3,199
Retirement benefit liabilities
(157)
\u2014
(164)
\u2014
Net retirement benefit assets
3,083
3,181
3,099
3,199
Note
1\u00a0 Settlement loss arising from allocation of a portion of the UKRF assets and liabilities to the Barclays UK Section of the UKRF on account of
sectionalisation effective from 1 July 2025, for which Barclays Bank UK PLC are now responsible for.
Included within the Barclays Bank Group\u2019s benefit obligation is \u00a3703m (2024: \u00a3695m) relating to overseas pensions and
\u00a398m (2024: \u00a399m) relating to other post-employment benefits.
Included within the Barclays Bank PLC\u2019s benefit obligation is \u00a361m (2024: \u00a359m) relating to overseas pensions and \u00a353m
( 2024: \u00a354m) relating to other post-employment benefits.
Barclays previously considered the potential implications for the UKRF of the ruling and appeal in Virgin Media v NTL
Pension Trustees II Ltd. This activity did not identify any relevant amendments to the UKRF (of the nature of that found to
have been void in the Virgin Media case) that were not subject to actuarial confirmation. Since this activity was completed
the Pension Schemes Bill 2025 (the Bill) has been published, which once in force will enable trustees to obtain retrospective
actuarial confirmation in certain circumstances. Progress of the Bill continues to be tracked by Barclays. The position
remains that no material additional benefit obligation is expected.
Breakdown of the Barclays Bank Section of the UKRF benefit obligation
2025
2024
Barclays Bank
Section
UKRF Total
\u00a3m
\u00a3m
Active members\u00a0 \u00a0
981
1,699
Deferred members (Afterwork)
1,828
1,716
Deferred members (Non-Afterwork)
3,786
4,269
Pensioners and Dependents
11,079
11,045
Total Barclays Bank Section of the UKRF benefit obligation at end of the year
17,674
18,729
As at 31\u00a0December 2025 , the Barclays Bank Section of the UKRF\u2019s scheme assets were in surplus versus IAS 19 obligations
by \u00a33,181m (2024 whole UKRF: \u00a33,199m).
The weighted average duration of the benefit payments reflected in the defined benefit obligation for the Barclays Bank
Section of the UKRF is 11 years (2024: 11 years). The Barclays Bank Section's expected benefits promised to date are
projected to be paid out for in excess of 50 years, although 35% of the benefits are expected to be paid in the next 10 years;
34% in years 11 to 20 and 20% in years 21 to 30. The remainder of the benefits are expected to be paid beyond 30 years.
Of the \u00a31,158m (2024: \u00a31,189m) benefits paid out, \u00a3145m (2024 : \u00a3165m) related to transfers out.
Where a scheme\u2019s assets exceed its obligation, an asset is recognised to the extent that it does not exceed the present value
of future contribution holidays or if the Group has an unconditional right to a refund of this asset at the end of the life of the
plan (the asset ceiling). In the case of the Barclays Bank Section of the UKRF the asset ceiling is not applied as, in certain
specified circumstances such as wind-up, the Barclays Bank Group expects to be able to recover any surplus or reduce
contributions. Similarly, a liability in respect of future minimum funding requirements is not recognised. The Trustee does
not have a substantive right to augment benefits, nor do they have the right to wind-up the plan except in the dissolution of
Barclays Bank PLC or termination of contributions by Barclays Bank PLC. The application of the asset ceiling to other plans
and recognition of additional liabilities in respect of future minimum funding requirements are considered on an individual
plan basis.
Critical accounting estimates and judgements
Key areas involving a higher degree of judgement or estimation include:
Estimates
Valuation of defined benefit scheme obligations are dependent on a number of assumptions, the most critical being discount rates, price
inflation, and life expectancy.
These estimates are considered to have a significant risk of resulting in a material adjustment to the carrying amount of
defined benefit obligations within the next financial year.
Below is a summary of the main financial and demographic assumptions adopted for the Barclays Bank Section of the UKRF.
Key financial assumptions
2025
2024
Barclays Bank
Section
Total UKRF
% p.a.
% p.a.
Discount rate
5.46
5.44
Inflation rate (RPI)
2.92
3.32
The Barclays Bank Section of the UKRF discount rate assumption for 2025 was based on a standard WTW RATE Link model.
The RPI inflation assumption for 2025 was set by reference to the Bank of England\u2019s implied inflation curve. The inflation
assumption incorporates a deduction of 20 basis points as an allowance for an inflation risk premium. The methodology
used to derive the discount rate and inflation assumptions is consistent with that used at the prior year end.
The Barclays Bank Section of the UKRF post-retirement mortality assumptions are based on best estimates derived from an
analysis in 2022 of the UKRF\u2019s own post-retirement mortality experience and taking account of recent evidence from
published mortality surveys. An allowance has been made for future mortality improvements based on the 2024 core
projection model published by the Continuous Mortality Investigation Bureau subject to a long-term trend of 1.10% per
annum in future improvements (2024 : 1.25% per annum). The table below shows how the assumed life expectancy, for
members of the Barclays Bank Section of the UKRF (2024: whole UKRF), has changed since last year:
Assumed life expectancy1
2025
2024
Life expectancy at 60 for current pensioners (years)
\u2013 Males
26.6
26.5
\u2013 Females
29.3
29.4
Life expectancy at 60 for future pensioners currently aged 40 (years)
\u2013 Males
28.0
28.0
\u2013 Females
30.6
30.8
Note:
1\u00a0 The life expectancies disclosed are in respect of a population of the membership that represents c60% of the Defined Benefit Obligation of the
Barclays Bank Section of the UKRF (excluding the Afterwork section which has no post-retirement mortality risk) with the remaining members
having life expectancy at age 60 of between 26.4 years and 29.3 years.
Approximately, 70% of the longevity risk for current pensioners has been reinsured and the transactions will provide income
to the Barclays Bank Section of the UKRF if pensions are paid out for longer than expected. The contracts form part of the
investment portfolio.
Sensitivity analysis on actuarial assumptions
The sensitivity analysis has been calculated by valuing the Barclays Bank Section of the UKRF liabilities using the amended
assumptions shown in the table below and keeping the remaining assumptions the same as disclosed in the table above,
except in the case of the inflation sensitivity where other assumptions that depend on assumed inflation have also been
amended correspondingly. The difference between the recalculated liability figure and that stated in the balance sheet
reconciliation table above is the figure shown. The selection of these movements to illustrate the sensitivity of the defined
benefit obligation to key assumptions should not be interpreted as the Barclays Bank Group expressing any specific view of
the probability of such movements happening.
Change in key assumptions for the Barclays Bank Section of the UKRF (2024: whole UKRF)
2025
2024
(Decrease)/Increase in
defined benefit
obligation
(Decrease)/Increase in
defined benefit
obligation
\u00a3bn
\u00a3bn
Discount rate
0.5% p.a. increase
(0.9)
(1.0)
0.25% p.a. increase
(0.4)
(0.5)
0.25% p.a. decrease
0.5
0.5
0.5% p.a. decrease
1.0
1.1
Assumed RPI
0.5% p.a. increase
0.7
0.7
0.25% p.a. increase
0.3
0.3
0.25% p.a. decrease
(0.3)
(0.4)
0.5% p.a. decrease
(0.6)
(0.7)
Life expectancy at 60
One year increase
0.5
0.5
1 Year decrease
(0.5)
(0.5)
Assets
A long-term investment strategy has been set for both the Section of the UKRF, with its asset allocation comprising a
mixture of gilts, bonds, property and other appropriate assets. This strategy recognises that different asset classes are likely
to produce different long-term returns and some asset classes may be more volatile than others. The long-term investment
strategy ensures, among other aims, that investments are adequately diversified.
The value of the assets of the schemes and their percentage in relation to total scheme assets were as follows:
Analysis of scheme assets
Barclays Bank Group Total
Of which relates to Barclays Bank Section of the
UKRF
Quoted 1
Unquoted 1,2
Value
% of total
fair value
of
scheme
assets
Quoted 1
Unquoted 1,2
Value
% of total
fair value
of
scheme
assets
\u00a3m
\u00a3m
\u00a3m
%
\u00a3m
\u00a3m
\u00a3m
%
As at 31 December 2025
Bonds - fixed government
1,926
4
1,930
9.0
1,721
4
1,725
8.3
Bonds - index-linked government
7,765
\u2014
7,765
36.0
7,751
\u2014
7,751
37.2
Bonds - corporate and other3
1,676
4,729
6,405
29.7
1,471
4,729
6,200
29.7
Equities
128
\u2014
128
0.6
\u2014
\u2014
\u2014
\u2014
Private equities\u00a0
\u2014
1,859
1,859
8.6
\u2014
1,859
1,859
8.9
Property
22
1,392
1,414
6.6
\u2014
1,392
1,392
6.7
Infrastructure
\u2014
414
414
1.9
\u2014
413
413
2.0
Hedge funds
13
1,635
1,648
7.6
\u2014
1,635
1,635
7.8
Derivatives
1
(1,478)
(1,477)
(6.9)
\u2014
(1,478)
(1,478)
(7.1)
Longevity reinsurance contracts
\u2014
(103)
(103)
(0.5)
\u2014
(103)
(103)
(0.5)
Cash and liquid assets 4
2,292
(830)
1,462
6.8
2,288
(830)
1,458
7.0
Mixed investment funds
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Other
15
98
113
0.6
\u2014
3
3
\u2014
Fair value of scheme assets5
13,838
7,720
21,558
100.0
13,231
7,624
20,855
100.0
As at 31 December 2024
Bonds - fixed government
1,546
\u2014
1,546
6.8
1,306
\u2014
1,306
6.0
Bonds - index-linked government
8,234
\u2014
8,234
36.4
8,214
\u2014
8,214
37.5
Bonds - corporate and other
5,604
717
6,321
27.9
5,395
717
6,112
27.9
Equities
121
\u2014
121
0.5
\u2014
\u2014
\u2014
\u2014
Private equities\u00a0
\u2014
2,134
2,134
9.4
\u2014
2,134
2,134
9.7
Property
19
1,238
1,257
5.6
\u2014
1,238
1,238
5.6
Infrastructure
\u2014
1,388
1,388
6.1
\u2014
1,388
1,388
6.3
Hedge funds
9
1,390
1,399
6.2
\u2014
1,390
1,390
6.3
Derivatives
(7)
(1,799)
(1,806)
(8.0)
(7)
(1,799)
(1,806)
(8.2)
Longevity reinsurance contracts
\u2014
(117)
(117)
(0.5)
\u2014
(117)
(117)
(0.5)
Cash and liquid assets 4
(454)
2,529
2,075
9.2
(464)
2,529
2,065
9.4
Mixed Investment funds
8
\u2014
8
\u2014
\u2014
\u2014
\u2014
\u2014
Other
7
56
63
0.4
\u2014
4
4
\u2014
Fair value of scheme assets5
15,087
7,536
22,623
100.0
14,444
7,484
21,928
100.0
Notes:
1. During the year ended 31\u00a0December 2025, there were c\u00a33bn assets re-classified from unquoted to quoted under cash and liquid assets and
c\u00a34bn assets reclassified from quoted to unquoted for Bonds - corporate and other (year ended 31 December 2024: there were no material re-
classifications). These re-classifications reflect enhancement to the Bank\u2019s levelling policy, including the use of additional data in the active
market assessment of issued debt.
2. Valuation of unquoted assets is provided by the underlying managers or qualified independent valuers. The valuation for some of the unquoted
assets, in particular private equities, is based on valuations as at 30 September 2025 adjusted by cash flows, these being the latest available
valuations as at the point of publication. All valuations are determined in accordance with relevant industry guidance. Barclays Bank Group does
not believe these valuations will differ materially from the fair value, in the context of the overall Barclays Bank Section asset size.
3. During the year ended 31\u00a0December 2025, there were c\u00a3740m of infrastructure loan assets reclassified to Bonds - corporate and other (2024
classification : Infrastructure).
4. Cash and liquid assets for the Barclays Bank Section of the UKRF consist of \u00a3186m (2024: \u00a3484m) of cash including receivables/payables,
\u00a32,102m (2024: \u00a32,529m) of pooled cash funds and \u00a3(830)m (2024: \u00a3(948)m) of repurchase agreements.
5. Included within the fair value of the Barclays Bank Section of the UKRF scheme assets was nil (2024: nil) relating to shares in Barclays PLC and nil
(2024: nil) relating to bonds issued by Barclays PLC or Barclays Bank PLC. The UKRF also invests in pooled investment vehicles which may hold
shares or debt issued by Barclays PLC.
Notes:
1. During the year ended 31\u00a0December 2025, there were c\u00a33bn assets re-classified from unquoted to quoted under cash and liquid assets and
c\u00a34bn assets reclassified from quoted to unquoted for Bonds - corporate and other (year ended 31 December 2024: there were no material re-
classifications). These re-classifications reflect enhancement to the Bank\u2019s levelling policy, including the use of additional data in the active
market assessment of issued debt.
2. Valuation of unquoted assets is provided by the underlying managers or qualified independent valuers. The valuation for some of the unquoted
assets, in particular private equities, is based on valuations as at 30 September 2025 adjusted by cash flows, these being the latest available
valuations as at the point of publication. All valuations are determined in accordance with relevant industry guidance. Barclays Bank Group does
not believe these valuations will differ materially from the fair value, in the context of the overall Barclays Bank Section asset size.
3. During the year ended 31\u00a0December 2025, there were c\u00a3740m of infrastructure loan assets reclassified to Bonds - corporate and other (2024
classification : Infrastructure).
4. Cash and liquid assets for the Barclays Bank Section of the UKRF consists of \u00a3186m (2024 : \u00a3484m ) of cash including receivables/payables,
\u00a32,102m ( 2024: \u00a32,529m ) of pooled cash funds and \u00a3(830)m (2024: \u00a3(948)m ) of repurchase agreements.
5. Included within the fair value of the Barclays Bank Section of the UKRF scheme assets was nil ( 2024: nil) relating to shares in Barclays PLC and nil
(2024 : nil) relating to bonds issued by Barclays PLC or Barclays Bank PLC. The UKRF also invests in pooled investment vehicles which may hold
shares or debt issued by Barclays PLC.
At 31\u00a0December 2025, 39% of the Barclays Bank Section of the UKRF assets were invested in liability-driven investment
strategies; primarily UK gilts as well as interest rate and inflation swaps. These swaps are used to better match the assets to
its liabilities. The swaps are used to reduce the scheme\u2019s inflation and duration risks against its liabilities.
The Barclays Bank Section of the UKRF employs derivative instruments, where appropriate, to match assets more closely to
liabilities, or to achieve a desired exposure or return. The value of assets shown reflects the assets held by the Barclays Bank
Section, with any derivative holdings reflected on a fair value basis. The Trustee also uses repurchase agreements and
reverse repurchase agreements to achieve the liability hedging objective.
The Barclays Bank Section of the UKRF has a comprehensive and robust liquidity framework in place. The aim of the liquidity
framework is to ensure that benefit payments and other liquidity outflows are paid in due course, sufficient liquidity and
collateral is maintained to achieve strategic allocation targets and that all liquidity outflows/collateral needs are covered
without forced sale or strategic asset allocation changes.
The Barclays Bank Section of the UKRF holds two longevity reinsurance contracts covering 70% of the current pensioner
liabilities. The contracts provide income to the Barclays Bank Section if pensions are paid out for longer than expected. At
31\u00a0December 2025, the combined value of the contracts was \u00a3(103)m (2024: \u00a3(117)m). The negative value reflects the
estimated impact of changes in the reinsurance market, demographic assumptions and risk premia since the contracts were
entered into.
For information on the UKRF Trustee\u2019s approach to Responsible Investment and Climate Risk, in the context of managing the
UKRF, please refer to the UKRF Trustee website at https://epa.towerswatson.com/accounts/barclays/public/barclays-bank-
responsible-investment-policy/.
Funding valuation
The UKRF annual funding update as at 30 September 2024 showed a funding surplus of \u00a31.75bn. The 30 September 2025
funding update is not available at the date of this report, as the triennial funding valuation for the Barclays Bank Section of
the UKRF is due to be completed in 2026 with an effective date of 30 September 2025.
The main differences between the funding and accounting assumptions are a different approach to setting the discount rate
and a more conservative life expectancy assumption for funding.
As part of the 2022 triennial funding valuation, the Trustee and Barclays Bank PLC agreed an annual adequacy test on a
basis more prudent than the IAS 19 or funding bases. Should the Barclays Bank Section of the UKRF be sufficiently funded
on this basis, the regular employer contributions to the Barclays Bank Section to fund future Afterwork accrual will not be
required in the following calendar year. The test will be reviewed at the 2025 triennial valuation. The test was passed in
September, so no regular employer contributions are required for 2026.
Other support measure agreed
Collateral \u2013 Barclays Bank PLC has entered into an agreement with the Trustee of the UKRF to provide collateral to cover at
least 100% of any funding deficit with an overall cap of \u00a38.4bn. The collateral pool is currently zero reflecting the surplus
funding position. The arrangement provides the Barclays Bank Section of the UKRF with dedicated access to the pool of
assets in the event of Barclays Bank PLC not paying any required deficit reduction contribution or in the event of Barclays
Bank PLC\u2019s insolvency.
Contributions
There were nil (2024: nil) Section 75 contributions included within the Barclays Bank Group\u2019s contributions paid.
The Barclays Bank Group\u2019s expected contribution to the Barclays Bank Section in respect of defined benefits in 2026 is
\u00a311m.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-602": { "value": "
Accounting for staff costs
Deferred cash and share awards are made to employees to incentivise performance over the period employees provide
services. To receive an award, an individual must have provided service over the vesting period and been employed on the
scheduled vesting date or be considered an eligible leaver. The expense for deferred cash and share awards is recognised
over the period employees\u2019 services contribute to the awards. The Barclays Bank Group considers it appropriate to recognise
the expense over the vesting period including the financial year prior to the grant date.
The accounting policies for share-based payments and retirement benefits are included in Note 29 and Note 30 respectively.
Accounting for retirement benefits
The Barclays Bank Group operates a number of pension schemes and post-employment benefit schemes.
Defined contribution \u2013 the Barclays Bank Group recognises contributions due in respect of the accounting period in the
income statement. Any contributions unpaid at the balance sheet date are included as a liability.
Defined benefit \u2013 the Barclays Bank Group recognises its obligations to members of each scheme at the period end, less the
fair value of the scheme assets after applying the asset ceiling test.
Each scheme\u2019s obligations are calculated using the projected unit credit method. Scheme assets are stated at fair value as at
the period end.
Changes in pension scheme liabilities or assets (remeasurements) that do not arise from regular pension cost, net interest
on net defined benefit liabilities or assets, past service costs, settlements or contributions to the scheme are recognised in
other comprehensive income. Remeasurements comprise experience adjustments (differences between previous actuarial
assumptions and what has actually occurred), the effects of changes in actuarial assumptions, return on scheme assets
(excluding amounts included in the interest on the assets) and any changes in the effect of the asset ceiling restriction
(excluding amounts included in the interest on the restriction).
The cost of providing healthcare benefits to retired employees is accrued as a liability in the financial statements over the
period that the employees provide services to the Barclays Bank Group, using a methodology similar to that for defined
benefit pension schemes.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-603": { "value": "Share-based payments
Accounting for share-based payments
Employee incentives include awards in the form of shares and share options, as well as offering employees the opportunity
to purchase shares on favourable terms. The cost of the employee services received in respect of the shares or share options
granted is recognised in the income statement over the period that employees provide services. The overall cost of the
award is calculated using the number of shares and options expected to vest and the fair value of the shares or options at
the date of grant.
The number of shares and options expected to vest takes into account the likelihood that applicable performance and
service conditions included in the terms of the awards will be met. For other share-based payment schemes such as
Sharesave and Sharepurchase, there are non-vesting conditions which must be met. Failure to meet the non-vesting
condition is treated as a cancellation, resulting in an acceleration of recognition of the cost of the employee services.
The fair value of shares is the market price ruling on the grant date, in some cases adjusted to reflect restrictions on
transferability. The fair value of options granted is determined using the Black-Scholes model to estimate the numbers of
shares likely to vest. The model takes into account the exercise price of the option, the current share price, the risk-free
interest rate, the expected volatility of the share price over the life of the option and other relevant factors. Market conditions
that must be met in order for the award to vest are also reflected in the fair value of the award, as are any other non-vesting
conditions \u2013 such as continuing to make payments into a share-based savings scheme.
The charge for the year arising from share-based payment schemes was as follows:
Charge for the year
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Share Value Plan and Deferred Share Value Plan
315
287
254
Others
177
133
144
Total equity settled
492
420
398
Cash settled
13
9
3
Total Share-based payments
505
429
401
The terms of the main current plans are as follows:
Share Value Plan (SVP)
SVP awards have been granted to participants in the form of a conditional right to receive Barclays PLC shares or provisional
allocations of Barclays PLC shares which vest or are considered for release over a period of three, four, five or seven years.
Participants do not pay to receive an award or to receive a release of shares. SVP awards are also made to eligible employees
for recruitment purposes. All awards are subject to potential forfeiture in certain leaver scenarios.
Deferred Share Value Plan (DSVP)
The terms of the DSVP are materially the same as the terms of the SVP as described above, save that Executive Directors are
not eligible to participate in the DSVP and the DSVP operates over market purchase shares only.
Other schemes
In addition to the SVP and DSVP, the Barclays PLC Group operates a number of other schemes settled in Barclays PLC Shares
including Sharesave (both UK and Ireland), Sharepurchase (both UK and Overseas), and Barclays PLC Group Long Term
Incentive Plan. A delivery of upfront shares to \u2018Material Risk Takers\u2019 can be made as a Share Incentive Award (Holding
Period) under the SVP. A free share award was delivered under the SVP to all eligible employees in 2025, with this award
being subject to a two-year holding period.
Share option and award plans
The weighted average fair value per award granted, weighted average share price at the date of exercise/release of shares
during the year, weighted average contractual remaining life, and number of options and awards outstanding (including
those exercisable) at the balance sheet date were as follows:
2025
2024
Weighted
average fair
value per
award
granted in
year
Weighted
average
share price
at exercise/
release
during year
Weighted
average
remaining
contractual
life
Number of
options/
awards
outstanding
Weighted
average fair
value per
award
granted in
year
Weighted
average
share price
at exercise/
release
during year
Weighted
average
remaining
contractual
life
Number of
options/
awards
outstanding
\u00a3
\u00a3
in years
(000s)
\u00a3
\u00a3
in years
(000s)
SVP and DSVP1,2
2.87
3.09
1
381,279
1.52
1.74
1
441,713
Others 1,3
1.49-3.57
3.03-4.01
0-2
35,395
0.81- 2.1
1.72- 2.13
0- 2
43,901
SVP and DSVP are nil cost awards on which the performance conditions are substantially completed at the date of grant.
Consequently, the fair value of these awards is based on the market value at that date.
Sharesave has a contractual life of\u00a03\u00a0years and\u00a05 years, the expected volatility is\u00a029.04% for\u00a03 years and\u00a0 26.48% for\u00a05 years.
The risk free interest rates used for valuations are\u00a03.47% and\u00a0 3.56% for\u00a03 years and\u00a05 years respectively. The pure dividend
yield rates used for valuations are 1.99% and 2.14% for 3 years and 5 years respectively. The repo rates used for valuations
are (0.60)% and (0.69)% for 3 years and 5 years respectively. The inputs into the model such as risk free interest rate,
expected volatility, pure dividend yield rates and repo rates are derived from market data.
Movements in options and awards
The movement in the number of options and awards for the major schemes and the weighted average exercise price of
options was:
SVP and DSVP 1,2
Others1,3
Number (000s)
Number (000s)
Weighted average
exercise price (\u00a3)
2025
2024
2025
2024
2025
2024
Outstanding at beginning of year/acquisition date
441,713
435,820
43,901
51,363
1.17
1.05
Transfers within the year4
(1,095)
(2,528)
391
1,780
Granted in the year
129,006
202,420
53,384
84,383
3.01
1.79
Exercised/released in the year
(169,166)
(171,810)
(60,633)
(90,721)
0.99
0.95
Less: forfeited in the year
(19,179)
(22,189)
(1,461)
(2,611)
1.36
1.20
Less: expired in the year
\u2014
\u2014
(187)
(293)
1.18
1.25
Outstanding at end of year
381,279
441,713
35,395
43,901
1.52
1.17
Of which exercisable:
\u2014
\u2014
8,013
4,956
0.94
1.23
Notes:
1\u00a0 Options/award granted over Barclays PLC shares.
2\u00a0 Weighted average exercise price is not applicable for SVP and DSVP awards as these are not share option schemes.
3 The number of awards within Others at the end of the year principally relates to Sharesave (number of awards exercisable at end of year was
4,323,541 (2024: 828,340)). The weighted average exercise price relates to Sharesave.
4\u00a0 Awards of employees transferred between the Barclays Bank Group and the rest of the Barclays PLC Group.
Awards and options granted to employees and former employees of the Barclays Bank Group under the Barclays PLC Group
share plans may be satisfied using new issue shares, treasury shares and market purchase shares of Barclays PLC. Awards
granted to employees and former employees of the Barclays Bank Group under DSVP may only be satisfied using market
purchase shares of Barclays PLC.
There were no significant modifications to the share-based payments arrangements in 2025 and 2024.
As at 31\u00a0December 2025, the total liability arising from cash-settled employee share-based payments transactions was
\u00a315m (2024: \u00a310m).", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-604": { "value": "
Accounting for share-based payments
Employee incentives include awards in the form of shares and share options, as well as offering employees the opportunity
to purchase shares on favourable terms. The cost of the employee services received in respect of the shares or share options
granted is recognised in the income statement over the period that employees provide services. The overall cost of the
award is calculated using the number of shares and options expected to vest and the fair value of the shares or options at
the date of grant.
The number of shares and options expected to vest takes into account the likelihood that applicable performance and
service conditions included in the terms of the awards will be met. For other share-based payment schemes such as
Sharesave and Sharepurchase, there are non-vesting conditions which must be met. Failure to meet the non-vesting
condition is treated as a cancellation, resulting in an acceleration of recognition of the cost of the employee services.
The fair value of shares is the market price ruling on the grant date, in some cases adjusted to reflect restrictions on
transferability. The fair value of options granted is determined using the Black-Scholes model to estimate the numbers of
shares likely to vest. The model takes into account the exercise price of the option, the current share price, the risk-free
interest rate, the expected volatility of the share price over the life of the option and other relevant factors. Market conditions
that must be met in order for the award to vest are also reflected in the fair value of the award, as are any other non-vesting
conditions \u2013 such as continuing to make payments into a share-based savings scheme.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-605": { "value": "
Accounting for retirement benefits
The Barclays Bank Group operates a number of pension schemes and post-employment benefit schemes.
Defined contribution \u2013 the Barclays Bank Group recognises contributions due in respect of the accounting period in the
income statement. Any contributions unpaid at the balance sheet date are included as a liability.
Defined benefit \u2013 the Barclays Bank Group recognises its obligations to members of each scheme at the period end, less the
fair value of the scheme assets after applying the asset ceiling test.
Each scheme\u2019s obligations are calculated using the projected unit credit method. Scheme assets are stated at fair value as at
the period end.
Changes in pension scheme liabilities or assets (remeasurements) that do not arise from regular pension cost, net interest
on net defined benefit liabilities or assets, past service costs, settlements or contributions to the scheme are recognised in
other comprehensive income. Remeasurements comprise experience adjustments (differences between previous actuarial
assumptions and what has actually occurred), the effects of changes in actuarial assumptions, return on scheme assets
(excluding amounts included in the interest on the assets) and any changes in the effect of the asset ceiling restriction
(excluding amounts included in the interest on the restriction).
The cost of providing healthcare benefits to retired employees is accrued as a liability in the financial statements over the
period that the employees provide services to the Barclays Bank Group, using a methodology similar to that for defined
benefit pension schemes.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-606": { "value": "Principal subsidiaries
The significant judgements used in applying this policy are set out below.
Accounting for investment in subsidiaries
In the individual financial statements of Barclays Bank PLC, investments in subsidiaries are stated at cost less impairment.
Investments in subsidiaries, the majority of which are engaged in banking related activities, are recorded on the balance
sheet at historical cost less any impairment. At 31\u00a0December 2025 the historical cost of investments in subsidiaries was
\u00a322,996m ( 2024: \u00a323,009m), and impairment allowances recognised against these investments totalled \u00a32,338m (2024:
\u00a32,262m). The decrease in the balance sheet value of \u00a389m in the year was driven by an increase in impairment of \u00a390m,
principally due to a \u00a365m impairment in Barclays Investment Solutions Ltd. The Cost of Investment in subsidiaries increased
by \u00a31m as a result of capital injections into subsidiaries being offset by the transfer of Barclays Capital Asia Limited to
Barclays International Holdings Limited. Further details can be found in Note 37.
At the end of each reporting period an impairment review is undertaken in respect of investments in the ordinary shares of
subsidiaries. Impairment is indicated where the investment exceeds the recoverable amount. The recoverable amount is
calculated as a value in use (VIU) which is derived from the present value of future cash flows expected to be received from
the investment. The VIU calculations use forecast profits based on financial budgets approved by management, covering a
five-year period as an approximation of future cash flows discounted using a discount rate appropriate to the subsidiary
being tested. A terminal growth rate is then applied to the cash flows thereafter, which is based upon expectations of future
inflation rates.\u00a0
The 2025 review did not result in any impairment or reversal of impairment. The 2024 review resulted in the reversal of \u00a31bn
of impairment for Barclays Bank Ireland PLC due to an improved performance expectation, the impairment had originally
been identified as part of the 2022 review.\u00a0
Principal subsidiaries of the Barclays Bank Group are set out below. This includes those subsidiaries that are most significant
in the context of the Barclays Bank Group\u2019s business, results or financial position. The principal subsidiaries are held directly
or indirectly via intermediate holding companies within the Barclays Bank Group. There were no significant changes in
ownership interests in these subsidiaries during the year, and the Barclays Bank Group did not lose control of any of these
subsidiaries. There has been no material percentage change in the Barclays Bank Group\u2019s shareholding for its main
subsidiaries since 2024.
Company Name
Principal place of
business or
incorporation
Nature of business
Percentage of
voting rights held
Non-controlling
interests -
proportion of
ownership
interests
Non-controlling
interests -
proportion of
voting interests
%
%
%
Barclays Bank Delaware
United States
Credit card issuer
100
\u2014
\u2014
Barclays Bank Ireland PLC
Ireland
Banking
100
\u2014
\u2014
Barclays Capital Inc.
United States
Securities dealing
100
\u2014
\u2014
Barclays Capital Securities Limited
United Kingdom
Securities dealing
100
\u2014
\u2014
Barclays Securities Japan Limited
Japan
Securities dealing
100
\u2014
\u2014
Barclays US LLC
United States
Holding company
100
\u2014
\u2014
The country of registration or incorporation is also the principal area of operation of each of the above subsidiaries.
Ownership interests are in some cases different to voting interests due to the existence of non-voting equity interests, such
as preference shares.
Significant judgements and assumptions used to determine the scope of the consolidation
Determining whether the Barclays Bank Group has control of an entity is generally straightforward based on ownership of
the majority of the voting capital. However, in certain instances, this determination will involve significant judgement,
particularly in the case of structured entities where voting rights are often not the determining factor in decisions over the
relevant activities. This judgement will involve assessing the purpose and design of the entity. It will also often be necessary
to consider whether the Barclays Bank Group, or another involved party with power over the relevant activities, is acting as a
principal in its own right or as an agent on behalf of others.\u00a0
There is also often considerable judgement involved in the ongoing assessment of control over structured entities. In this
regard, where market conditions have deteriorated such that the other investors\u2019 exposures to the structure\u2019s variable
returns have been substantively eliminated, the Barclays Bank Group may conclude that the managers of the structured
entity are acting as its agent and therefore will consolidate the structured entity.
An interest in equity voting rights exceeding 50% would typically indicate that the Barclays Bank Group has control of an
entity. Until 25th October 2024 Palomino Limited was excluded from consolidation despite the Group holding 100% of the
voting rights as it was managed by an external counter-party and the Group was not exposed to its variable returns.
Following the termination of the management agreement, as from 26th October 2024 the entity is now fully consolidated.
Significant restrictions
As is typical for a group of its size and international scope, there are restrictions on the ability of the Barclays Bank Group to
obtain distributions of capital, access the assets or repay the liabilities of certain members of the Barclays Bank Group due to
the statutory, regulatory and contractual requirements of its subsidiaries and due to the protective rights of non-controlling
interests. These are considered below.
Regulatory requirements
The Barclays Bank Group\u2019s principal subsidiary companies have assets and liabilities before intercompany eliminations of
\u00a3582bn (2024: \u00a3515bn) and \u00a3559bn ( 2024: \u00a3490bn) respectively. Certain classes of these assets and liabilities are subject to
prudential regulation and regulatory capital requirements in the countries in which the subsidiaries are regulated. These
prudential and regulatory capital requirements require entities to maintain minimum capital levels which cannot be returned
to the parent company, Barclays Bank PLC, on a going concern basis.
In order to meet capital requirements, subsidiaries may issue certain equity accounted and debt accounted financial
instruments such as Tier 1 and Tier 2 capital instruments and other forms of subordinated liabilities. Refer to Note 25 and
Note 26 for particulars of these instruments. These instruments may be subject to cancellation clauses or preference share
restrictions that would limit the ability of the entity to repatriate the capital on a timely basis.
Liquidity requirements
Regulated subsidiaries of the Barclays Bank Group are required to meet PRA or local regulatory requirements pertaining to
liquidity. These regulated subsidiaries include Barclays Capital Securities Limited (which is regulated for liquidity matters on
a combined basis with Barclays Bank PLC under a Domestic Liquidity Sub-Group (DoLSub) arrangement), Barclays Bank
Ireland PLC, Barclays Capital Inc. and Barclays Bank Delaware Inc. See page 221 for further details of liquidity requirements.
Statutory requirements
The Barclays Bank Group\u2019s subsidiaries are subject to statutory requirements not to make distributions of capital and
unrealised profits and generally to maintain solvency. These requirements restrict the ability of subsidiaries to make
remittances of dividends to Barclays Bank PLC, the parent, except in the event of a legal capital reduction or liquidation. In
most cases the regulatory restrictions referred to above exceed the statutory restrictions.
Asset encumbrance
The Barclays Bank Group uses its financial assets to raise finance in the form of securitisations and through the liquidity
schemes of central banks, as well as to provide security to the UK Retirement Fund. Once encumbered, the assets are not
available for transfer around the Barclays Bank Group. The assets typically affected are disclosed in Note 35.
Other restrictions
The Barclays Bank Group is required to maintain cash balances with central banks and other regulatory authorities and these
amounted to \u00a32,775m (2024: \u00a32,317m).
Related Undertakings
The Barclays Bank PLC\u2019s corporate structure consists of a number of
related undertakings, comprising subsidiary undertakings, joint
ventures, associated undertakings and significant holdings. A full list
of these related undertakings is set out below, together with the
country of incorporation, registered office (or principal place of
business) and the identity and percentage of each share class held
by Barclays Bank PLC. The information is provided as at 31
December 2025.
The entities are grouped by the countries in which they are
incorporated. The profits earned by the activities of these entities are
in some cases taxed in countries other than the country of
incorporation for example where the entity carries on business
through a branch in a territory outside of its country of
incorporation. Barclays PLC Country Snapshot provides details of
where Barclays Bank PLC carries on its business, where its profits are
subject to tax and the taxes it pays in each country it operates in.
Notes
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X\u00a0
Y
Z
AA
Directly held by Barclays Bank PLC
Partnership Interest
Membership Interest
Preference Shares
A Preference Shares
B Preference Shares
Ordinary/Common Shares in addition to other shares
A Ordinary Shares
B Ordinary Shares
C Ordinary Shares
F Ordinary Shares
First Preference Shares, Second Preference Shares
Registered Address not in country of incorporation
USD Linked Ordinary Shares\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Capital Contribution Shares
Redeemable Class B Shares
Non-Redeemable Ordinary Shares
Class A Shares
Class B Shares
Class C Shares
Class D Shares
Class E Shares
First Class Common Shares, Second Class Common Shares
Redeemable Class A Shares
Not Consolidated
LLC Share
B Shares
Wholly owned subsidiaries
Note
Unless otherwise stated, the undertakings
below are wholly owned and included in the
consolidation and the share capital held by
the Group comprises ordinary and/or
common shares, which are held by
subsidiaries of the Group. Unless otherwise
stated, the Group holds 100% of the nominal
value of each share class.
United Kingdom
1 Churchill Place, London, E14
5HP
Aequor Investments Limited
Ardencroft Investments Limited
A
B D & B Investments Limited
B.P.B. (Holdings) Limited
A
Barclays Aldersgate Investments
Limited
A
Barclays Asset Management
Limited
A
Barclays Capital Asia Holdings
Limited
Barclays Capital Nominees (No.2)
Limited
Barclays Capital Nominees (No.3)
Limited
A
Barclays Capital Nominees Limited
A
Barclays Capital Securities Client
Nominee Limited
A
Barclays Capital Securities Limited
A
Barclays CCP Funding LLP
B
Barclays Direct Investing Nominees
Limited
Barclays Directors Limited
A
Barclays Executive Schemes
Trustees Limited
A
Barclays Financial Planning
Nominee Company Limited
Barclays Gaia Holdings Limited
Barclays Group Holdings Limited
A
Barclays International Holdings
Limited
A
Barclays Investment Management
Limited
A
Barclays Investment Solutions
Limited
A
Barclays Long Island Limited
A
Barclays Nominees (George Yard)
Limited
A, Y
Barclays OCIO Services Limited
A
Barclaycard Payments Limited
Barclays Pension Funds Trustees
Limited
A
Barclays Private Bank
Barclays Services (Japan) Limited
A
Barclays Shea Limited
A
Barclays Term Funding Limited
Liability Partnership
B
Barclays Wealth Nominees Limited
A
Barclayshare Nominees Limited
Wholly owned subsidiaries
Note
Barcosec Limited
A
Barsec Nominees Limited
A
BB Client Nominees Limited
A
Chapelcrest Investments Limited
Cornwall Home Loans Limited
A
Dorset Home Loans Limited
A
Durlacher Nominees Limited
A
Eagle Financial and Leasing
Services (UK) Limited
A
Finpart Nominees Limited
A
Foltus Investments Limited
A
Hawkins Funding Limited
Heraldglen Limited
G, L
Isle of Wight Home Loans Limited
A
J.V. Estates Limited
A
Kirsche Investments Limited
A
Long Island Assets Limited
Maloney Investments Limited
Menlo Investments Limited
A
Mercantile Credit Company Limited
A
Mercantile Leasing Company
(No.132) Limited
A
MK Opportunities LP
B
Naxos Investments Limited\u00a0 (In
Liquidation 14 January 2026)
A
Northwharf Nominees Limited
A
Oak Pension Asset Management
Limited
Y
Real Estate Participation
Management Limited
Real Estate Participation Services
Limited
Relative Value Investments UK
Limited Liability Partnership
B
Relative Value Trading Limited
Roder Investments No. 1 Limited
A, G
Roder Investments No. 2 Limited
A, G
RVT CLO Investments LLP
B
Surety Trust Limited
A
Swan Lane Investments Limited
US Real Estate Holdings No.1
Limited
US Real Estate Holdings No.2
Limited
US Real Estate Holdings No.3
Limited
US Real Estate Holdings No.4
Limited
A
US Real Estate Holdings No.5
Limited
A
US Real Estate Holdings No.6
Limited
A
Water Street Investments Limited
Y
Wedd Jefferson (Nominees)
Limited
A
Westferry Investments Limited
A
Woolwich Qualifying Employee
Share Ownership Trustee Limited
A
Zeban Nominees Limited
A
Wholly owned subsidiaries
Note
C/O Teneo Financial Advisory
Limited, 3rd Floor, The Colmore
Building, 20 Colmore Circus
Queensway, Birmingham, West
Midlands, B4 6AT
Barclays Nominees (Branches)
Limited (In Liquidation)
A
Leonis Investments LLP (In
Liquidation)
B
1-4 , Clyde Place Lane, Glasgow,
G5 8DP
R.C. Greig Nominees Limited
9, all\u00e9e Scheffer, Luxembourg,
L-2520
Barclays Blossom Finance Limited
Partnership
B, M
Barclays Claudas Investments
Partnership
B, M
Barclays Pelleas Investments
Limited Partnership
B, M
Argentina
Marval, O'Farrell & Mairal, Av.
Leandro N. Alem 882, Buenos
Aires, C1001AAQ, Argentina
Alem 882, Buenos Aires,
C1001AAQ
Compa\u00f1ia Regional del Sur S.A. (In
Liquidation)
A
Brazil
Av. Brigadeiro Faria Lima,
No.4.440, 12th Floor, Bairro Itaim
Bibi, Sao Paulo, CEP, 04538-132,
Brazil
Barclays Brasil Assessoria
Financeira Ltda
A
Canada
Bay Wellington Tower, Brookfield
Place, 47th floor, 181 Bay Street,
Toronto, Ontario, M5J 2T3
Barclays Capital Canada Inc.
Barclays Corporation Limited
A
Cayman Islands
PO Box\u00a0 309, Ugland House,
George Town, Grand Cayman,
KY1-1104
Alymere Investments Limited
E, F, G
Analytical Trade UK Limited
A
Barclays Capital (Cayman)
Limited
A
Barclays Securities Financing
Limited
E, F, G
Barclays US Holdings Limited
A, D, G
Braven Investments No.1 Limited
Capton Investments Limited
Claudas Investments Limited
A, G, P,
X
Claudas Investments Two
Limited
Wholly owned subsidiaries
Note
Gallen Investments Limited
Hornbeam Limited
Y
Mintaka Investments No. 4
Limited
Palomino Limited
A
Pelleas Investments Limited
A
Pippin Island Investments
Limited
A
Razzoli Investments Limited
A
RVH Limited
A, D, G
France
34-36 avenue de Friedland,
75008, Paris
Barclays ADF SA
A
Guernsey
P.O. Box 33, Dorey Court, Admiral
Park, St.\u00a0 Peter\u00a0Port, GY1 4AT
Barclays UKRF ICC Limited
Y
Barclays UKRF No.1 IC Limited
Y
Barclays UKRF No.2 IC Ltd
Y
Hong Kong
Level 41, Cheung Kong Center, 2
Queen's Road, Central, N/A, Hong
Kong
Barclays Capital Asia Limited
A
India
Nirlon Knowledge Park, Level 9,
Block B-6, Off Western Express
Highway, Goregaon (East),
Mumbai, 400063
Barclays Securities (India) Private
Limited
Barclays Wealth Trustees (India)
Private Limited
Barclays Investments & Loans
(India) Private Limited
G
Ireland
One Molesworth Street, Dublin 2,
D02 RF29
Barclays Bank Ireland Public
Limited Company
A
Barclays Europe Client Nominees
Designated Activity Company
Barclays Europe Firm Nominees
Designated Activity Company
Barclays Europe Nominees
Designated Activity Company
25-28 North Wall Quay,
Dublin1, D01 H104
Erimon Home Loans Ireland
Limited
A
70 Sir John Rogerson\u2019s Quay,
Dublin 2,\u00a0 D02 R296, Ireland
Barclays Finance Ireland Limited
Wholly owned subsidiaries
Note
Isle of Man
Eagle Court, Circular Road,
Douglas, IM1 1AD, Isle of Man
Barclays Nominees (Manx) Limited
(In Liquidation)
A
Barclays Private Clients
International Limited
A, H, I,
Y
c/o Zedra Trust Company (Isle of
Man) Limited, 2nd Floor, St
Georges Court, Upper Church
Street, Douglas, IM1 1EE
Barclays Holdings (Isle of Man)
Limited (In Liquidation)
A
Japan
10-1, Roppongi 6-chome, Minato-
ku, Tokyo, 106-6131, Japan
Barclays Funds and Advisory Japan
Limited
Barclays Securities Japan Limited
G, E
Jersey
28 Esplanade, St Helier, JE2 3QA,
Jersey
Barclays Services Jersey Limited
(In Liquidation)
A
13 Library Place, St Helier, JE4 8NE
Barclays Nominees (Jersey)
Limited
A
Barclaytrust Channel Islands
Limited
A
Estera Trust (Jersey) Limited,
13-14 Esplanade, St Helier, JE1
1EE, Jersey
MK Opportunities GP Ltd
A
3rd Floor, 44 Esplanade, St. Helier,
JE4 9WG, Jersey
Barclaycard Payment Holdings
Limited
Barclaycard Payments Midco
Limited
Luxembourg
9, all\u00e9e Scheffer, Luxembourg,
L-2520, Luxembourg
Barclays Bedivere Investments
S.\u00e0 r.l.
G
Barclays Cantal Investments
S.\u00e0 r.l.
R, S\u00a0
Barclays Capital Luxembourg
S.\u00e0 r.l.
Barclays Treasury Luxembourg
S.\u00e0 r.l.
Barclays Claudas Investments
S.\u00e0 r.l.
Wholly owned subsidiaries
Note
Barclays International
Luxembourg Dollar Holdings\u00a0
S.\u00e0 r.l.
Barclays Lamorak Investments
S.\u00e0 r.l.
Q
Barclays Luxembourg
GBP Holdings S.\u00e0 r.l.
Q
Barclays Luxembourg Global
Funding S.\u00e0 r.l.
Barclays Luxembourg Holdings
S.\u00e0 r.l.
Barclays Luxembourg Holdings
SSC
B
68-70 Boulevard de la Petrusse,
Luxembourg, L-2320,
Luxembourg
Adler Toy Holding S.\u00e0 r.l.
10 rue du Ch\u00e2teau d\u2019Eau,
Leudelange, Grand Duchy of
Luxembourg L-3364
BPM Management GP S.\u00e0 r.l.
A
Mauritius
c/o Rogers Capital Corporate
Services Limited, Level 3, Rogers
Capital House, 5 President John
Kennedy Street, Port Louis, 11302,
Mauritius
Barclays Capital Mauritius
Limited (In Liquidation)
A
Barclays Capital Securities
Mauritius Limited
A
Fifth Floor, Ebene Esplanade, 24
Bank Street, Cybercity, Ebene,
72201, Mauritius
Barclays Mauritius Overseas
Holdings Limited
A
Mexico
Paseo de la Reforma 505, Torre
Mayor Floor 41, Colona
Cuauht\u00e9moc, 06500, Mexico City,
Mexico
Barclays Bank Mexico, S.A.
I, K
Barclays Capital Casa de Bolsa,
S.A. de C.V.
I, K
Grupo Financiero Barclays
Mexico, S.A. de C.V.
A, I, K
Monaco
31 Avenue de la Costa, Monte
Carlo, 98000, Monaco
Barclays Private Asset
Management (Monaco) S.A.M
Saudi Arabia
Wholly owned subsidiaries
Note
3rd Floor Al Dahna Center, 114
Al-Ahsa Street, PO Box 1454,
Riyadh, 11431, Saudi Arabia
Barclays Saudi Arabia (In
Liquidation)
A
Building 4.09- Unit 2- Level 9th,
King Abdullah Financial District
Riyadh, KSA, Kingdom Abdullah
Financial District, Riyadh, Saudi
Arabia
Barclays Regional\u00a0 Headquarters
Company
Singapore
10 Marina Boulevard, #25-01
Marina Bay\u00a0 Financial Centre,
Tower 2, 018983, Singapore
Barclays Merchant Bank
(Singapore) Ltd.
Spain
Calle Jose, Abascal 51, Madrid,
28003, Spain
Barclays Tenedora De Inmuebles
SL.
A
Switzerland
Chemin de Grange Canal 18-20,
PO Box 3941, Geneva, 1211,
Switzerland
Barclays Bank (Suisse) SA
BPB Holdings SA
A
Taiwan
19F-1, No. 7, Xinyi Road, Sec. 5,
Taipei, 11049, Taiwan (Province
of China)
Barclays Securities Taiwan
Limited
A
Turkey
13th floor, Kanyon Office Block,
B\u00fcy\u00fckdere Caddesi, Levent,
Istanbul, 34394, Turkey
Barclays Menkul De\u011ferler
Anonim \u015eirketi
United States
745 Seventh Avenue, New York,
Ny 10019, United States
Alynore Investments Limited
Partnership
B
Corporation Service Company,
251 Little Falls Drive, Wilmington,
Delaware, 19808, United States
Analytical Trade Holdings LLC
Barclays Asset Backed Depositor
LLC
C
Barclays Bank Delaware
D, G
Wholly owned subsidiaries
Note
Barclays Capital Derivatives
Funding LLC
C
Barclays Capital Equities Trading
GP
B
Barclays Capital Holdings Inc.
E, F, G
Barclays Capital Real Estate
Finance Inc.
Barclays Capital Real Estate
Holdings Inc.
Barclays Capital Real Estate Inc.
Barclays Commercial Mortgage
Securities LLC
C
Barclays Dryrock Funding LLC
C
Barclays Financial LLC
C
Barclays Group US Inc.
E, G
Barclays Lifestyles LLC
C
Barclays Nest LLC
C
Barclays Oversight Management
Inc.
Barclays Receivables LLC
C
Barclays Services Corporation
Barclays Services, LLC
C
Barclays STBT Inc.
Barclays US CCP Funding LLC
C
Barclays US LLC
C
Barclays US Investments Inc.
BCAP LLC
C
Gracechurch Services
Corporation
Lagalla Investments LLC
Marbury Holdings LLC
Preferred Liquidity, LLC
H
Procella Investments No.2 LLC
Z
Procella Investments No.3 LLC
Z
Relative Value Holdings, LLC
Surrey Funding Corporation
Sussex Purchasing Corporation
Sutton Funding LLC
C
US Secured Investments LLC
O
Verain Investments LLC
C
Wilmington Riverfront\u00a0 LLC
C
100 Bank Street, Suite 630,
Burlington, Vermont 05401
Barclays Insurance U.S. Inc.
Corporation Service Company, 80
State Street, Albany, NY,
12207-2543
Barclays Equity Holdings Inc.
Corporation Service Company,
Goodwin Square, 225 Asylum
Street, 20th Floor, Hartford, CT
06103, United States
Barclays Capital Inc.
Wholly owned subsidiaries
Note
Corporation Service Company,
2626, Glenwood Ave, Suite 550,
Raleigh, NC, 27608
Barclays US GPF Inc.
Equifirst Corporation (In
Liquidation, dissolved with State of
North Carolina)
Rodney Square North, 1100, North
Market Street, Wilmington,
Delaware, 19890, United States
Barclays Dryrock Issuance Trust
Wholly owned subsidiaries
Note
Unless otherwise stated, the undertakings
below are included in the consolidation and
the share capital held by Barclays Bank PLC
comprises ordinary and/or common shares,
which are held by subsidiaries of Barclays
Bank PLC. The percentage of the nominal
value of each share class held by Barclays
Bank PLC is provided below.
Other Related Undertakings
%
Note
United Kingdom
1 Churchill Place, London, E14
5HP
Barclays Secured Funding
(LM) Limited
20.00
A
Barclays Secured Notes
Finance LLP
20.00
A
50 Lothian Road, Festival
Square, Edinburgh, EH3 9WJ
Equistone Founder Partner III
L.P.
20.00
A,B,
Y
Enigma, Wavendon Business
Park Milton Keynes,
MK178LX
Intelligent Processing
Solutions Limited
19.50
Y
Korea, Republic of
18th Floor, Daishin Finance
Center, 343, Samil-daero,
Jung-gu, Seoul, 04538,
South Korea
Woori BC Pegasus
Securitization Specialty Co.
Ltd
70.00
W
Luxembourg
9, all\u00e9e Scheffer,
Luxembourg, L-2520,
Barclays Alzin Investments
S.\u00e0 r.l.
100.00
R,S,
U
Barclays Bordang Investments
S.\u00e0 r.l.
100.00
R, S
Netherlands
Winschoterdiep, 70,
Groningen, 9723AB,
Groningen,
Cube Solidus B.V.
68.83
AA
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-607": { "value": "
Accounting for investment in subsidiaries
In the individual financial statements of Barclays Bank PLC, investments in subsidiaries are stated at cost less impairment.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-608": { "value": "2775000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:MandatoryReserveDepositsAtCentralBanks", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2026-01-01T00:00:00", "unit": "iso4217:GBP" } }, "f-609": { "value": "2317000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:MandatoryReserveDepositsAtCentralBanks", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00", "unit": "iso4217:GBP" } }, "f-611": { "value": "Structured entities
A structured entity is an entity in which voting or similar rights are not the dominant factor in deciding who controls the
entity. An example is when voting rights may relate to administrative tasks only, with the relevant activities of the entity
being directed by means of contractual arrangements. Structured entities are generally created to achieve a narrow and
well-defined objective with restrictions around their ongoing activities.
Depending on the Barclays Bank Group\u2019s power over the activities of the entity and its exposure to and ability to influence its
own returns, it may consolidate the entity. In other cases, it may sponsor or have exposure to such an entity but not
consolidate it.
Consolidated structured entities
The Barclays Bank Group has contractual arrangements which may require it to provide financial support to the following
types of consolidated structured entities:
\u25aa Securitisation vehicles: The Barclays Bank Group uses securitisation as a source of financing and a means of risk
transfer. Where entities are controlled by the Barclays Bank Group, they are consolidated. Refer to Note 34 for further
detail.
\u25aa Commercial paper (CP) conduits: These entities issue CP and use the proceeds to lend to clients as part of the Barclays
Bank Group's multi-seller conduit programme. The Barclays Bank Group has provided \u00a321.0bn (2024: \u00a323.9bn) in
contractual liquidity facilities to the CP conduits that the Barclays Bank Group consolidates. These amounts represent
the maximum the conduits can lend externally. The amounts of CP conduit lending (drawn and undrawn) to
unconsolidated structured entities can be seen in 'Other interests in unconsolidated structured entities' under multi-
seller conduit programme in the 'Nature of interest' table.
\u25aa Tender Option Bond (TOB) trusts: During 2025, the Barclays Bank Group provided undrawn liquidity facilities of \u00a34.0bn
( 2024: \u00a34.0bn ) to consolidated TOB trusts. These trusts invest in fixed income instruments issued by state, local or
other municipalities in the United States, funded by long-term senior floating-rate notes and junior residual securities.
Unconsolidated structured entities
The term \u2018unconsolidated structured entities\u2019 refers to structured entities not controlled by the Barclays Bank Group, and are
established either by Barclays Bank Group or a third party. An interest in a structured entity is any form of contractual or
non-contractual involvement which creates variability in returns arising from the performance of the entity for the Barclays
Bank Group. Such interests include holdings of debt or equity securities, derivatives that transfer financial risks from the
entity to the Barclays Bank Group, lending, loan commitments, financial guarantees and investment management
agreements.
The Barclays Bank Group enters into transactions with unconsolidated structured entities in the normal course of business
to facilitate customer transactions, to provide risk management services and for specific investment opportunities. This is
predominantly within the Barclays Investment Bank business. Structured entities may take the form of funds, trusts,
securitisation vehicles, and private investment companies. The largest transactions for Barclays Bank Group include loans
and derivatives with hedge fund structures and special purpose entities, multi-seller conduit lending, holding notes issued by
securitisation vehicles and facilitating customer requirements through funds.
The nature and extent of the Barclays Bank Group\u2019s interests in structured entities is summarised below:
Summary of interests in unconsolidated structured entities
Secured
financing
Short-term
traded
interests
Traded
derivatives
Other
interests
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Assets
Trading portfolio assets
\u2014
31,386
\u2014
\u2014
31,386
Financial assets at fair value through the income statement
79,052
\u2014
\u2014
629
79,681
Derivative financial instruments
\u2014
\u2014
6,257
\u2014
6,257
Financial assets at fair value through other comprehensive income
\u2014
\u2014
\u2014
3,655
3,655
Loans and advances at amortised cost
\u2014
\u2014
\u2014
46,705
46,705
Debt securities at amortised cost
\u2014
\u2014
\u2014
14,069
14,069
Reverse repurchase agreements and other similar secured lending
7,049
\u2014
\u2014
\u2014
7,049
Other assets
\u2014
\u2014
\u2014
\u2014
\u2014
Total assets
86,101
31,386
6,257
65,058
188,802
Liabilities
Derivative financial instruments
\u2014
\u2014
6,451
\u2014
6,451
As at 31 December 2024
Assets
Trading portfolio assets
\u2014
23,941
\u2014
\u2014
23,941
Financial assets at fair value through the income statement
87,546
\u2014
\u2014
1,268
88,814
Derivative financial instruments
\u2014
\u2014
6,540
\u2014
6,540
Financial assets at fair value through other comprehensive income
\u2014
\u2014
\u2014
4,852
4,852
Loans and advances at amortised cost
\u2014
\u2014
\u2014
46,554
46,554
Debt securities at amortised cost
\u2014
\u2014
\u2014
15,438
15,438
Reverse repurchase agreements and other similar secured lending
3,145
\u2014
\u2014
\u2014
3,145
Other assets
\u2014
\u2014
\u2014
\u2014
\u2014
Total assets
90,691
23,941
6,540
68,112
189,284
Liabilities
Derivative financial instruments
\u2014
\u2014
6,978
\u2014
6,978
Secured financing arrangements, short-term traded interests and traded derivatives are typically managed under Market risk
management policies described in the Market risk management section which includes an indication of the change of risk
measures compared to last year. For this reason, the total assets of these entities are not considered meaningful for the
purposes of understanding the related risks and so have not been presented. Other interests include conduits and lending
where the interest is driven by normal customer demand. As at 31\u00a0December 2025, the Barclays Bank Group entered into
transactions with approximately 8,000 (2024: 5,000) structured entities.
Secured financing
The Barclays Bank Group routinely enters into reverse repurchase contracts, margin lending, stock borrowing and similar
arrangements on normal commercial terms where the counterparty to the arrangement is a structured entity. Due to the
nature of these arrangements, especially the transfer of collateral and ongoing margining, the Barclays Bank Group is able to
manage its variable exposure to the performance of the structured entity counterparty. The counterparties included in
secured financing mainly include hedge fund limited structures, investment companies and special purpose entities.
Short-term traded interests
As part of its market making activities, the Barclays Bank Group buys and sells interests in structured vehicles, which are
predominantly debt securities issued by asset securitisation vehicles. Such interests are typically held individually or as part
of a larger portfolio for no more than 90 days. In such cases, the Barclays Bank Group typically has no other involvement
with the structured entity other than the securities it holds as part of trading activities and its maximum exposure to loss is
restricted to the carrying value of the asset.
Traded derivatives
The Barclays Bank Group enters into a variety of derivative contracts with structured entities which reference market risk
variables such as interest rates, equities, foreign exchange rates and credit indices among other things. The main derivative
types that are considered interests in structured entities include equity options, index-based and entity specific credit default
swaps, and total return swaps. Interest rate swaps and foreign exchange derivatives that are not complex and which expose
the Barclays Bank Group to insignificant credit risk by being senior in the payment waterfall of a securitisation and
derivatives that are determined to introduce risk or variability to a structured entity are not considered to be an interest in an
entity and have been excluded from the disclosures.
A description of the types of derivatives and the risk management practices are detailed in Note 13. The risk of loss may be
mitigated through ongoing margining requirements as well as a right to cash flows from the structured entity which are
senior in the payment waterfall. Such margining requirements are consistent with market practice for many derivative
arrangements and in line with the Barclays Bank Group\u2019s normal credit policies.
Derivative transactions require the counterparty to provide cash or other collateral under margining agreements to mitigate
counterparty credit risk. The Barclays Bank Group is mainly exposed to settlement risk on these derivatives which is
mitigated through daily margining. Total notional contract amounts were \u00a3641,837m (2024: \u00a3712,793m).
Except for credit default swaps where the maximum exposure to loss is the swap notional amount, it is not possible to
estimate the maximum exposure to loss in respect of derivative positions as the fair value of derivatives is subject to changes
in market rates of interest, exchange rates and credit indices which by their nature are uncertain. In addition, the Barclays
Bank Group\u2019s losses would be subject to mitigating action under its traded market risk and credit risk policies that require
the counterparty to provide collateral in cash or other assets in most cases.
Other interests in unconsolidated structured entities
The Barclays Bank Group\u2019s interests in structured entities not held for the purposes of short-term trading activities are set
out below, summarised by the nature of the interest and limited to significant categories, based on maximum exposure to
loss.
Nature of interest
Multi-seller
conduit
programme
Lending
Other
Total
Of which:
Barclays
Bank Group
owned, not
consolidated
entities1
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Financial assets at fair value through the income statement
\u2014
\u2014
629
629
\u2014
Financial assets at fair value through other comprehensive income
\u2014
2,367
1,288
3,655
\u2014
Loans and advances at amortised cost
9,697
37,008
\u2014
46,705
\u2014
Debt securities at amortised cost
\u2014
\u2014
14,069
14,069
\u2014
Other assets
\u2014
\u2014
\u2014
\u2014
\u2014
Total on-balance sheet exposures
9,697
39,375
15,986
65,058
\u2014
Total off-balance sheet notional amounts
11,326
24,866
\u2014
36,192
\u2014
Maximum exposure to loss
21,023
64,241
15,986
101,250
\u2014
Total assets of the entity
32,527
193,873
65,897
292,297
\u2014
As at 31 December 2024
Financial assets at fair value through the income statement
\u2014
\u2014
1,268
1,268
\u2014
Financial assets at fair value through other comprehensive income
\u2014
3,206
1,646
4,852
\u2014
Loans and advances at amortised cost
11,103
35,451
\u2014
46,554
\u2014
Debt securities at amortised cost
\u2014
\u2014
15,438
15,438
\u2014
Other assets
\u2014
\u2014
\u2014
\u2014
\u2014
Total on-balance sheet exposures
11,103
38,657
18,352
68,112
\u2014
Total off-balance sheet notional amounts
11,530
25,733
\u2014
37,263
\u2014
Maximum exposure to loss
22,633
64,390
18,352
105,375
\u2014
Total assets of the entity
41,431
199,000
52,369
292,800
\u2014
Note
1\u00a0 \u00a0 Comprises of Barclays Bank Group owned, not consolidated structured entities per IFRS 10 Consolidated Financial Statements. Refer to Note 31
Principal subsidiaries for more details on consolidation.
Maximum exposure to loss
Unless specified otherwise below, the Barclays Bank Group\u2019s maximum exposure to loss is the total of its on-balance sheet
positions and its off-balance sheet arrangements, being loan commitments and financial guarantees. Exposure to loss is
mitigated through collateral, financial guarantees, the availability of netting and credit protection held.
Multi-seller conduit programme
The Barclays Bank Group's multi-seller conduit programme engages in providing financing to various clients and holds
whole or partial interests in pools of receivables or similar obligations. These instruments are protected from loss through
over-collateralisation, seller guarantees, or other credit enhancements provided to the conduit entity. The Barclays Bank
Group\u2019s off-balance sheet exposure included in the table above represents liquidity facilities that are provided to the conduit
for the benefit of the holders of the commercial paper issued by the conduit and will only be drawn where the conduit is
unable to access the commercial paper market. If these liquidity facilities are drawn, the Barclays Bank Group is protected
from loss through over-collateralisation, seller guarantees, or other credit enhancements provided to the conduit.
Lending
The portfolio includes lending provided by the Barclays Bank Group to unconsolidated structured entities in the normal
course of its lending business to earn income in the form of interest and lending fees and includes loans to structured
entities that are generally collateralised by property, equipment or other assets. All loans are subject to the Barclays Bank
Group\u2019s credit sanctioning process. Collateral arrangements are specific to the circumstances of each loan with additional
guarantees and collateral sought from the sponsor of the structured entity for certain arrangements. During the year, the
Barclays Bank Group incurred immaterial impairment against such facilities.
Other
This includes fair value loans with structured entities where the market risk is materially hedged with corresponding
derivative contracts, interests in debt securities issued by securitisation vehicles and drawn and undrawn loan facilities to
these entities. In addition, 'Other' includes investment funds with interests restricted to management fees based on the
performance of the fund and trusts held on behalf of beneficiaries with interests restricted to unpaid fees.
Assets transferred to sponsored unconsolidated structured entities
The Barclays Bank Group is considered to sponsor another entity if; it had a key role in establishing that entity, it transferred
assets to the entity, the Barclays name appears in the name of the entity or it provides guarantees on the entity\u2019s
performance. As at 31\u00a0December 2025, assets transferred to sponsored unconsolidated structured entities were \u00a31,060m
(2024: \u00a3890m).
Investments in associates and joint ventures
There are no individually significant investments in joint ventures or associates held by Barclays Bank Group.
2025
2024
Associates
Joint ventures
Total
Associates
Joint ventures
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Equity accounted (Group)
14
\u2014
14
14
\u2014
14
2025
2024
Associates
Joint ventures
Total
Associates
Joint ventures
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Equity accounted (Parent)
12
\u2014
12
12
\u2014
12
Summarised financial information for the Barclays Bank Group\u2019s equity accounted associates and joint ventures is set out
below. The amounts shown are the Barclays Bank Group\u2019s share of the net income of the investees for the year ended 31
December 2025, with the exception of certain undertakings for which the amounts are based on accounts made up to dates
not earlier than three months before the balance sheet date.
Associates
Joint ventures
2025
2024
2023
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
(Loss)/Profit from continuing operations
\u2014
\u2014
(4)
\u2014
\u2014
\u2014
Other comprehensive income
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total comprehensive (loss)/income from
continuing operations
\u2014
\u2014
(4)
\u2014
\u2014
\u2014
Related Undertakings
The Barclays Bank PLC\u2019s corporate structure consists of a number of
related undertakings, comprising subsidiary undertakings, joint
ventures, associated undertakings and significant holdings. A full list
of these related undertakings is set out below, together with the
country of incorporation, registered office (or principal place of
business) and the identity and percentage of each share class held
by Barclays Bank PLC. The information is provided as at 31
December 2025.
The entities are grouped by the countries in which they are
incorporated. The profits earned by the activities of these entities are
in some cases taxed in countries other than the country of
incorporation for example where the entity carries on business
through a branch in a territory outside of its country of
incorporation. Barclays PLC Country Snapshot provides details of
where Barclays Bank PLC carries on its business, where its profits are
subject to tax and the taxes it pays in each country it operates in.
Notes
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X\u00a0
Y
Z
AA
Directly held by Barclays Bank PLC
Partnership Interest
Membership Interest
Preference Shares
A Preference Shares
B Preference Shares
Ordinary/Common Shares in addition to other shares
A Ordinary Shares
B Ordinary Shares
C Ordinary Shares
F Ordinary Shares
First Preference Shares, Second Preference Shares
Registered Address not in country of incorporation
USD Linked Ordinary Shares\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Capital Contribution Shares
Redeemable Class B Shares
Non-Redeemable Ordinary Shares
Class A Shares
Class B Shares
Class C Shares
Class D Shares
Class E Shares
First Class Common Shares, Second Class Common Shares
Redeemable Class A Shares
Not Consolidated
LLC Share
B Shares
Wholly owned subsidiaries
Note
Unless otherwise stated, the undertakings
below are wholly owned and included in the
consolidation and the share capital held by
the Group comprises ordinary and/or
common shares, which are held by
subsidiaries of the Group. Unless otherwise
stated, the Group holds 100% of the nominal
value of each share class.
United Kingdom
1 Churchill Place, London, E14
5HP
Aequor Investments Limited
Ardencroft Investments Limited
A
B D & B Investments Limited
B.P.B. (Holdings) Limited
A
Barclays Aldersgate Investments
Limited
A
Barclays Asset Management
Limited
A
Barclays Capital Asia Holdings
Limited
Barclays Capital Nominees (No.2)
Limited
Barclays Capital Nominees (No.3)
Limited
A
Barclays Capital Nominees Limited
A
Barclays Capital Securities Client
Nominee Limited
A
Barclays Capital Securities Limited
A
Barclays CCP Funding LLP
B
Barclays Direct Investing Nominees
Limited
Barclays Directors Limited
A
Barclays Executive Schemes
Trustees Limited
A
Barclays Financial Planning
Nominee Company Limited
Barclays Gaia Holdings Limited
Barclays Group Holdings Limited
A
Barclays International Holdings
Limited
A
Barclays Investment Management
Limited
A
Barclays Investment Solutions
Limited
A
Barclays Long Island Limited
A
Barclays Nominees (George Yard)
Limited
A, Y
Barclays OCIO Services Limited
A
Barclaycard Payments Limited
Barclays Pension Funds Trustees
Limited
A
Barclays Private Bank
Barclays Services (Japan) Limited
A
Barclays Shea Limited
A
Barclays Term Funding Limited
Liability Partnership
B
Barclays Wealth Nominees Limited
A
Barclayshare Nominees Limited
Wholly owned subsidiaries
Note
Barcosec Limited
A
Barsec Nominees Limited
A
BB Client Nominees Limited
A
Chapelcrest Investments Limited
Cornwall Home Loans Limited
A
Dorset Home Loans Limited
A
Durlacher Nominees Limited
A
Eagle Financial and Leasing
Services (UK) Limited
A
Finpart Nominees Limited
A
Foltus Investments Limited
A
Hawkins Funding Limited
Heraldglen Limited
G, L
Isle of Wight Home Loans Limited
A
J.V. Estates Limited
A
Kirsche Investments Limited
A
Long Island Assets Limited
Maloney Investments Limited
Menlo Investments Limited
A
Mercantile Credit Company Limited
A
Mercantile Leasing Company
(No.132) Limited
A
MK Opportunities LP
B
Naxos Investments Limited\u00a0 (In
Liquidation 14 January 2026)
A
Northwharf Nominees Limited
A
Oak Pension Asset Management
Limited
Y
Real Estate Participation
Management Limited
Real Estate Participation Services
Limited
Relative Value Investments UK
Limited Liability Partnership
B
Relative Value Trading Limited
Roder Investments No. 1 Limited
A, G
Roder Investments No. 2 Limited
A, G
RVT CLO Investments LLP
B
Surety Trust Limited
A
Swan Lane Investments Limited
US Real Estate Holdings No.1
Limited
US Real Estate Holdings No.2
Limited
US Real Estate Holdings No.3
Limited
US Real Estate Holdings No.4
Limited
A
US Real Estate Holdings No.5
Limited
A
US Real Estate Holdings No.6
Limited
A
Water Street Investments Limited
Y
Wedd Jefferson (Nominees)
Limited
A
Westferry Investments Limited
A
Woolwich Qualifying Employee
Share Ownership Trustee Limited
A
Zeban Nominees Limited
A
Wholly owned subsidiaries
Note
C/O Teneo Financial Advisory
Limited, 3rd Floor, The Colmore
Building, 20 Colmore Circus
Queensway, Birmingham, West
Midlands, B4 6AT
Barclays Nominees (Branches)
Limited (In Liquidation)
A
Leonis Investments LLP (In
Liquidation)
B
1-4 , Clyde Place Lane, Glasgow,
G5 8DP
R.C. Greig Nominees Limited
9, all\u00e9e Scheffer, Luxembourg,
L-2520
Barclays Blossom Finance Limited
Partnership
B, M
Barclays Claudas Investments
Partnership
B, M
Barclays Pelleas Investments
Limited Partnership
B, M
Argentina
Marval, O'Farrell & Mairal, Av.
Leandro N. Alem 882, Buenos
Aires, C1001AAQ, Argentina
Alem 882, Buenos Aires,
C1001AAQ
Compa\u00f1ia Regional del Sur S.A. (In
Liquidation)
A
Brazil
Av. Brigadeiro Faria Lima,
No.4.440, 12th Floor, Bairro Itaim
Bibi, Sao Paulo, CEP, 04538-132,
Brazil
Barclays Brasil Assessoria
Financeira Ltda
A
Canada
Bay Wellington Tower, Brookfield
Place, 47th floor, 181 Bay Street,
Toronto, Ontario, M5J 2T3
Barclays Capital Canada Inc.
Barclays Corporation Limited
A
Cayman Islands
PO Box\u00a0 309, Ugland House,
George Town, Grand Cayman,
KY1-1104
Alymere Investments Limited
E, F, G
Analytical Trade UK Limited
A
Barclays Capital (Cayman)
Limited
A
Barclays Securities Financing
Limited
E, F, G
Barclays US Holdings Limited
A, D, G
Braven Investments No.1 Limited
Capton Investments Limited
Claudas Investments Limited
A, G, P,
X
Claudas Investments Two
Limited
Wholly owned subsidiaries
Note
Gallen Investments Limited
Hornbeam Limited
Y
Mintaka Investments No. 4
Limited
Palomino Limited
A
Pelleas Investments Limited
A
Pippin Island Investments
Limited
A
Razzoli Investments Limited
A
RVH Limited
A, D, G
France
34-36 avenue de Friedland,
75008, Paris
Barclays ADF SA
A
Guernsey
P.O. Box 33, Dorey Court, Admiral
Park, St.\u00a0 Peter\u00a0Port, GY1 4AT
Barclays UKRF ICC Limited
Y
Barclays UKRF No.1 IC Limited
Y
Barclays UKRF No.2 IC Ltd
Y
Hong Kong
Level 41, Cheung Kong Center, 2
Queen's Road, Central, N/A, Hong
Kong
Barclays Capital Asia Limited
A
India
Nirlon Knowledge Park, Level 9,
Block B-6, Off Western Express
Highway, Goregaon (East),
Mumbai, 400063
Barclays Securities (India) Private
Limited
Barclays Wealth Trustees (India)
Private Limited
Barclays Investments & Loans
(India) Private Limited
G
Ireland
One Molesworth Street, Dublin 2,
D02 RF29
Barclays Bank Ireland Public
Limited Company
A
Barclays Europe Client Nominees
Designated Activity Company
Barclays Europe Firm Nominees
Designated Activity Company
Barclays Europe Nominees
Designated Activity Company
25-28 North Wall Quay,
Dublin1, D01 H104
Erimon Home Loans Ireland
Limited
A
70 Sir John Rogerson\u2019s Quay,
Dublin 2,\u00a0 D02 R296, Ireland
Barclays Finance Ireland Limited
Wholly owned subsidiaries
Note
Isle of Man
Eagle Court, Circular Road,
Douglas, IM1 1AD, Isle of Man
Barclays Nominees (Manx) Limited
(In Liquidation)
A
Barclays Private Clients
International Limited
A, H, I,
Y
c/o Zedra Trust Company (Isle of
Man) Limited, 2nd Floor, St
Georges Court, Upper Church
Street, Douglas, IM1 1EE
Barclays Holdings (Isle of Man)
Limited (In Liquidation)
A
Japan
10-1, Roppongi 6-chome, Minato-
ku, Tokyo, 106-6131, Japan
Barclays Funds and Advisory Japan
Limited
Barclays Securities Japan Limited
G, E
Jersey
28 Esplanade, St Helier, JE2 3QA,
Jersey
Barclays Services Jersey Limited
(In Liquidation)
A
13 Library Place, St Helier, JE4 8NE
Barclays Nominees (Jersey)
Limited
A
Barclaytrust Channel Islands
Limited
A
Estera Trust (Jersey) Limited,
13-14 Esplanade, St Helier, JE1
1EE, Jersey
MK Opportunities GP Ltd
A
3rd Floor, 44 Esplanade, St. Helier,
JE4 9WG, Jersey
Barclaycard Payment Holdings
Limited
Barclaycard Payments Midco
Limited
Luxembourg
9, all\u00e9e Scheffer, Luxembourg,
L-2520, Luxembourg
Barclays Bedivere Investments
S.\u00e0 r.l.
G
Barclays Cantal Investments
S.\u00e0 r.l.
R, S\u00a0
Barclays Capital Luxembourg
S.\u00e0 r.l.
Barclays Treasury Luxembourg
S.\u00e0 r.l.
Barclays Claudas Investments
S.\u00e0 r.l.
Wholly owned subsidiaries
Note
Barclays International
Luxembourg Dollar Holdings\u00a0
S.\u00e0 r.l.
Barclays Lamorak Investments
S.\u00e0 r.l.
Q
Barclays Luxembourg
GBP Holdings S.\u00e0 r.l.
Q
Barclays Luxembourg Global
Funding S.\u00e0 r.l.
Barclays Luxembourg Holdings
S.\u00e0 r.l.
Barclays Luxembourg Holdings
SSC
B
68-70 Boulevard de la Petrusse,
Luxembourg, L-2320,
Luxembourg
Adler Toy Holding S.\u00e0 r.l.
10 rue du Ch\u00e2teau d\u2019Eau,
Leudelange, Grand Duchy of
Luxembourg L-3364
BPM Management GP S.\u00e0 r.l.
A
Mauritius
c/o Rogers Capital Corporate
Services Limited, Level 3, Rogers
Capital House, 5 President John
Kennedy Street, Port Louis, 11302,
Mauritius
Barclays Capital Mauritius
Limited (In Liquidation)
A
Barclays Capital Securities
Mauritius Limited
A
Fifth Floor, Ebene Esplanade, 24
Bank Street, Cybercity, Ebene,
72201, Mauritius
Barclays Mauritius Overseas
Holdings Limited
A
Mexico
Paseo de la Reforma 505, Torre
Mayor Floor 41, Colona
Cuauht\u00e9moc, 06500, Mexico City,
Mexico
Barclays Bank Mexico, S.A.
I, K
Barclays Capital Casa de Bolsa,
S.A. de C.V.
I, K
Grupo Financiero Barclays
Mexico, S.A. de C.V.
A, I, K
Monaco
31 Avenue de la Costa, Monte
Carlo, 98000, Monaco
Barclays Private Asset
Management (Monaco) S.A.M
Saudi Arabia
Wholly owned subsidiaries
Note
3rd Floor Al Dahna Center, 114
Al-Ahsa Street, PO Box 1454,
Riyadh, 11431, Saudi Arabia
Barclays Saudi Arabia (In
Liquidation)
A
Building 4.09- Unit 2- Level 9th,
King Abdullah Financial District
Riyadh, KSA, Kingdom Abdullah
Financial District, Riyadh, Saudi
Arabia
Barclays Regional\u00a0 Headquarters
Company
Singapore
10 Marina Boulevard, #25-01
Marina Bay\u00a0 Financial Centre,
Tower 2, 018983, Singapore
Barclays Merchant Bank
(Singapore) Ltd.
Spain
Calle Jose, Abascal 51, Madrid,
28003, Spain
Barclays Tenedora De Inmuebles
SL.
A
Switzerland
Chemin de Grange Canal 18-20,
PO Box 3941, Geneva, 1211,
Switzerland
Barclays Bank (Suisse) SA
BPB Holdings SA
A
Taiwan
19F-1, No. 7, Xinyi Road, Sec. 5,
Taipei, 11049, Taiwan (Province
of China)
Barclays Securities Taiwan
Limited
A
Turkey
13th floor, Kanyon Office Block,
B\u00fcy\u00fckdere Caddesi, Levent,
Istanbul, 34394, Turkey
Barclays Menkul De\u011ferler
Anonim \u015eirketi
United States
745 Seventh Avenue, New York,
Ny 10019, United States
Alynore Investments Limited
Partnership
B
Corporation Service Company,
251 Little Falls Drive, Wilmington,
Delaware, 19808, United States
Analytical Trade Holdings LLC
Barclays Asset Backed Depositor
LLC
C
Barclays Bank Delaware
D, G
Wholly owned subsidiaries
Note
Barclays Capital Derivatives
Funding LLC
C
Barclays Capital Equities Trading
GP
B
Barclays Capital Holdings Inc.
E, F, G
Barclays Capital Real Estate
Finance Inc.
Barclays Capital Real Estate
Holdings Inc.
Barclays Capital Real Estate Inc.
Barclays Commercial Mortgage
Securities LLC
C
Barclays Dryrock Funding LLC
C
Barclays Financial LLC
C
Barclays Group US Inc.
E, G
Barclays Lifestyles LLC
C
Barclays Nest LLC
C
Barclays Oversight Management
Inc.
Barclays Receivables LLC
C
Barclays Services Corporation
Barclays Services, LLC
C
Barclays STBT Inc.
Barclays US CCP Funding LLC
C
Barclays US LLC
C
Barclays US Investments Inc.
BCAP LLC
C
Gracechurch Services
Corporation
Lagalla Investments LLC
Marbury Holdings LLC
Preferred Liquidity, LLC
H
Procella Investments No.2 LLC
Z
Procella Investments No.3 LLC
Z
Relative Value Holdings, LLC
Surrey Funding Corporation
Sussex Purchasing Corporation
Sutton Funding LLC
C
US Secured Investments LLC
O
Verain Investments LLC
C
Wilmington Riverfront\u00a0 LLC
C
100 Bank Street, Suite 630,
Burlington, Vermont 05401
Barclays Insurance U.S. Inc.
Corporation Service Company, 80
State Street, Albany, NY,
12207-2543
Barclays Equity Holdings Inc.
Corporation Service Company,
Goodwin Square, 225 Asylum
Street, 20th Floor, Hartford, CT
06103, United States
Barclays Capital Inc.
Wholly owned subsidiaries
Note
Corporation Service Company,
2626, Glenwood Ave, Suite 550,
Raleigh, NC, 27608
Barclays US GPF Inc.
Equifirst Corporation (In
Liquidation, dissolved with State of
North Carolina)
Rodney Square North, 1100, North
Market Street, Wilmington,
Delaware, 19890, United States
Barclays Dryrock Issuance Trust
Wholly owned subsidiaries
Note
Unless otherwise stated, the undertakings
below are included in the consolidation and
the share capital held by Barclays Bank PLC
comprises ordinary and/or common shares,
which are held by subsidiaries of Barclays
Bank PLC. The percentage of the nominal
value of each share class held by Barclays
Bank PLC is provided below.
Other Related Undertakings
%
Note
United Kingdom
1 Churchill Place, London, E14
5HP
Barclays Secured Funding
(LM) Limited
20.00
A
Barclays Secured Notes
Finance LLP
20.00
A
50 Lothian Road, Festival
Square, Edinburgh, EH3 9WJ
Equistone Founder Partner III
L.P.
20.00
A,B,
Y
Enigma, Wavendon Business
Park Milton Keynes,
MK178LX
Intelligent Processing
Solutions Limited
19.50
Y
Korea, Republic of
18th Floor, Daishin Finance
Center, 343, Samil-daero,
Jung-gu, Seoul, 04538,
South Korea
Woori BC Pegasus
Securitization Specialty Co.
Ltd
70.00
W
Luxembourg
9, all\u00e9e Scheffer,
Luxembourg, L-2520,
Barclays Alzin Investments
S.\u00e0 r.l.
100.00
R,S,
U
Barclays Bordang Investments
S.\u00e0 r.l.
100.00
R, S
Netherlands
Winschoterdiep, 70,
Groningen, 9723AB,
Groningen,
Cube Solidus B.V.
68.83
AA
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-610": { "value": "Structured entities
A structured entity is an entity in which voting or similar rights are not the dominant factor in deciding who controls the
entity. An example is when voting rights may relate to administrative tasks only, with the relevant activities of the entity
being directed by means of contractual arrangements. Structured entities are generally created to achieve a narrow and
well-defined objective with restrictions around their ongoing activities.
Depending on the Barclays Bank Group\u2019s power over the activities of the entity and its exposure to and ability to influence its
own returns, it may consolidate the entity. In other cases, it may sponsor or have exposure to such an entity but not
consolidate it.
Consolidated structured entities
The Barclays Bank Group has contractual arrangements which may require it to provide financial support to the following
types of consolidated structured entities:
\u25aa Securitisation vehicles: The Barclays Bank Group uses securitisation as a source of financing and a means of risk
transfer. Where entities are controlled by the Barclays Bank Group, they are consolidated. Refer to Note 34 for further
detail.
\u25aa Commercial paper (CP) conduits: These entities issue CP and use the proceeds to lend to clients as part of the Barclays
Bank Group's multi-seller conduit programme. The Barclays Bank Group has provided \u00a321.0bn (2024: \u00a323.9bn) in
contractual liquidity facilities to the CP conduits that the Barclays Bank Group consolidates. These amounts represent
the maximum the conduits can lend externally. The amounts of CP conduit lending (drawn and undrawn) to
unconsolidated structured entities can be seen in 'Other interests in unconsolidated structured entities' under multi-
seller conduit programme in the 'Nature of interest' table.
\u25aa Tender Option Bond (TOB) trusts: During 2025, the Barclays Bank Group provided undrawn liquidity facilities of \u00a34.0bn
( 2024: \u00a34.0bn ) to consolidated TOB trusts. These trusts invest in fixed income instruments issued by state, local or
other municipalities in the United States, funded by long-term senior floating-rate notes and junior residual securities.
Unconsolidated structured entities
The term \u2018unconsolidated structured entities\u2019 refers to structured entities not controlled by the Barclays Bank Group, and are
established either by Barclays Bank Group or a third party. An interest in a structured entity is any form of contractual or
non-contractual involvement which creates variability in returns arising from the performance of the entity for the Barclays
Bank Group. Such interests include holdings of debt or equity securities, derivatives that transfer financial risks from the
entity to the Barclays Bank Group, lending, loan commitments, financial guarantees and investment management
agreements.
The Barclays Bank Group enters into transactions with unconsolidated structured entities in the normal course of business
to facilitate customer transactions, to provide risk management services and for specific investment opportunities. This is
predominantly within the Barclays Investment Bank business. Structured entities may take the form of funds, trusts,
securitisation vehicles, and private investment companies. The largest transactions for Barclays Bank Group include loans
and derivatives with hedge fund structures and special purpose entities, multi-seller conduit lending, holding notes issued by
securitisation vehicles and facilitating customer requirements through funds.
The nature and extent of the Barclays Bank Group\u2019s interests in structured entities is summarised below:
Summary of interests in unconsolidated structured entities
Secured
financing
Short-term
traded
interests
Traded
derivatives
Other
interests
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Assets
Trading portfolio assets
\u2014
31,386
\u2014
\u2014
31,386
Financial assets at fair value through the income statement
79,052
\u2014
\u2014
629
79,681
Derivative financial instruments
\u2014
\u2014
6,257
\u2014
6,257
Financial assets at fair value through other comprehensive income
\u2014
\u2014
\u2014
3,655
3,655
Loans and advances at amortised cost
\u2014
\u2014
\u2014
46,705
46,705
Debt securities at amortised cost
\u2014
\u2014
\u2014
14,069
14,069
Reverse repurchase agreements and other similar secured lending
7,049
\u2014
\u2014
\u2014
7,049
Other assets
\u2014
\u2014
\u2014
\u2014
\u2014
Total assets
86,101
31,386
6,257
65,058
188,802
Liabilities
Derivative financial instruments
\u2014
\u2014
6,451
\u2014
6,451
As at 31 December 2024
Assets
Trading portfolio assets
\u2014
23,941
\u2014
\u2014
23,941
Financial assets at fair value through the income statement
87,546
\u2014
\u2014
1,268
88,814
Derivative financial instruments
\u2014
\u2014
6,540
\u2014
6,540
Financial assets at fair value through other comprehensive income
\u2014
\u2014
\u2014
4,852
4,852
Loans and advances at amortised cost
\u2014
\u2014
\u2014
46,554
46,554
Debt securities at amortised cost
\u2014
\u2014
\u2014
15,438
15,438
Reverse repurchase agreements and other similar secured lending
3,145
\u2014
\u2014
\u2014
3,145
Other assets
\u2014
\u2014
\u2014
\u2014
\u2014
Total assets
90,691
23,941
6,540
68,112
189,284
Liabilities
Derivative financial instruments
\u2014
\u2014
6,978
\u2014
6,978
Secured financing arrangements, short-term traded interests and traded derivatives are typically managed under Market risk
management policies described in the Market risk management section which includes an indication of the change of risk
measures compared to last year. For this reason, the total assets of these entities are not considered meaningful for the
purposes of understanding the related risks and so have not been presented. Other interests include conduits and lending
where the interest is driven by normal customer demand. As at 31\u00a0December 2025, the Barclays Bank Group entered into
transactions with approximately 8,000 (2024: 5,000) structured entities.
Secured financing
The Barclays Bank Group routinely enters into reverse repurchase contracts, margin lending, stock borrowing and similar
arrangements on normal commercial terms where the counterparty to the arrangement is a structured entity. Due to the
nature of these arrangements, especially the transfer of collateral and ongoing margining, the Barclays Bank Group is able to
manage its variable exposure to the performance of the structured entity counterparty. The counterparties included in
secured financing mainly include hedge fund limited structures, investment companies and special purpose entities.
Short-term traded interests
As part of its market making activities, the Barclays Bank Group buys and sells interests in structured vehicles, which are
predominantly debt securities issued by asset securitisation vehicles. Such interests are typically held individually or as part
of a larger portfolio for no more than 90 days. In such cases, the Barclays Bank Group typically has no other involvement
with the structured entity other than the securities it holds as part of trading activities and its maximum exposure to loss is
restricted to the carrying value of the asset.
Traded derivatives
The Barclays Bank Group enters into a variety of derivative contracts with structured entities which reference market risk
variables such as interest rates, equities, foreign exchange rates and credit indices among other things. The main derivative
types that are considered interests in structured entities include equity options, index-based and entity specific credit default
swaps, and total return swaps. Interest rate swaps and foreign exchange derivatives that are not complex and which expose
the Barclays Bank Group to insignificant credit risk by being senior in the payment waterfall of a securitisation and
derivatives that are determined to introduce risk or variability to a structured entity are not considered to be an interest in an
entity and have been excluded from the disclosures.
A description of the types of derivatives and the risk management practices are detailed in Note 13. The risk of loss may be
mitigated through ongoing margining requirements as well as a right to cash flows from the structured entity which are
senior in the payment waterfall. Such margining requirements are consistent with market practice for many derivative
arrangements and in line with the Barclays Bank Group\u2019s normal credit policies.
Derivative transactions require the counterparty to provide cash or other collateral under margining agreements to mitigate
counterparty credit risk. The Barclays Bank Group is mainly exposed to settlement risk on these derivatives which is
mitigated through daily margining. Total notional contract amounts were \u00a3641,837m (2024: \u00a3712,793m).
Except for credit default swaps where the maximum exposure to loss is the swap notional amount, it is not possible to
estimate the maximum exposure to loss in respect of derivative positions as the fair value of derivatives is subject to changes
in market rates of interest, exchange rates and credit indices which by their nature are uncertain. In addition, the Barclays
Bank Group\u2019s losses would be subject to mitigating action under its traded market risk and credit risk policies that require
the counterparty to provide collateral in cash or other assets in most cases.
Other interests in unconsolidated structured entities
The Barclays Bank Group\u2019s interests in structured entities not held for the purposes of short-term trading activities are set
out below, summarised by the nature of the interest and limited to significant categories, based on maximum exposure to
loss.
Nature of interest
Multi-seller
conduit
programme
Lending
Other
Total
Of which:
Barclays
Bank Group
owned, not
consolidated
entities1
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
As at 31 December 2025
Financial assets at fair value through the income statement
\u2014
\u2014
629
629
\u2014
Financial assets at fair value through other comprehensive income
\u2014
2,367
1,288
3,655
\u2014
Loans and advances at amortised cost
9,697
37,008
\u2014
46,705
\u2014
Debt securities at amortised cost
\u2014
\u2014
14,069
14,069
\u2014
Other assets
\u2014
\u2014
\u2014
\u2014
\u2014
Total on-balance sheet exposures
9,697
39,375
15,986
65,058
\u2014
Total off-balance sheet notional amounts
11,326
24,866
\u2014
36,192
\u2014
Maximum exposure to loss
21,023
64,241
15,986
101,250
\u2014
Total assets of the entity
32,527
193,873
65,897
292,297
\u2014
As at 31 December 2024
Financial assets at fair value through the income statement
\u2014
\u2014
1,268
1,268
\u2014
Financial assets at fair value through other comprehensive income
\u2014
3,206
1,646
4,852
\u2014
Loans and advances at amortised cost
11,103
35,451
\u2014
46,554
\u2014
Debt securities at amortised cost
\u2014
\u2014
15,438
15,438
\u2014
Other assets
\u2014
\u2014
\u2014
\u2014
\u2014
Total on-balance sheet exposures
11,103
38,657
18,352
68,112
\u2014
Total off-balance sheet notional amounts
11,530
25,733
\u2014
37,263
\u2014
Maximum exposure to loss
22,633
64,390
18,352
105,375
\u2014
Total assets of the entity
41,431
199,000
52,369
292,800
\u2014
Note
1\u00a0 \u00a0 Comprises of Barclays Bank Group owned, not consolidated structured entities per IFRS 10 Consolidated Financial Statements. Refer to Note 31
Principal subsidiaries for more details on consolidation.
Maximum exposure to loss
Unless specified otherwise below, the Barclays Bank Group\u2019s maximum exposure to loss is the total of its on-balance sheet
positions and its off-balance sheet arrangements, being loan commitments and financial guarantees. Exposure to loss is
mitigated through collateral, financial guarantees, the availability of netting and credit protection held.
Multi-seller conduit programme
The Barclays Bank Group's multi-seller conduit programme engages in providing financing to various clients and holds
whole or partial interests in pools of receivables or similar obligations. These instruments are protected from loss through
over-collateralisation, seller guarantees, or other credit enhancements provided to the conduit entity. The Barclays Bank
Group\u2019s off-balance sheet exposure included in the table above represents liquidity facilities that are provided to the conduit
for the benefit of the holders of the commercial paper issued by the conduit and will only be drawn where the conduit is
unable to access the commercial paper market. If these liquidity facilities are drawn, the Barclays Bank Group is protected
from loss through over-collateralisation, seller guarantees, or other credit enhancements provided to the conduit.
Lending
The portfolio includes lending provided by the Barclays Bank Group to unconsolidated structured entities in the normal
course of its lending business to earn income in the form of interest and lending fees and includes loans to structured
entities that are generally collateralised by property, equipment or other assets. All loans are subject to the Barclays Bank
Group\u2019s credit sanctioning process. Collateral arrangements are specific to the circumstances of each loan with additional
guarantees and collateral sought from the sponsor of the structured entity for certain arrangements. During the year, the
Barclays Bank Group incurred immaterial impairment against such facilities.
Other
This includes fair value loans with structured entities where the market risk is materially hedged with corresponding
derivative contracts, interests in debt securities issued by securitisation vehicles and drawn and undrawn loan facilities to
these entities. In addition, 'Other' includes investment funds with interests restricted to management fees based on the
performance of the fund and trusts held on behalf of beneficiaries with interests restricted to unpaid fees.
Assets transferred to sponsored unconsolidated structured entities
The Barclays Bank Group is considered to sponsor another entity if; it had a key role in establishing that entity, it transferred
assets to the entity, the Barclays name appears in the name of the entity or it provides guarantees on the entity\u2019s
performance. As at 31\u00a0December 2025, assets transferred to sponsored unconsolidated structured entities were \u00a31,060m
(2024: \u00a3890m).
Related Undertakings
The Barclays Bank PLC\u2019s corporate structure consists of a number of
related undertakings, comprising subsidiary undertakings, joint
ventures, associated undertakings and significant holdings. A full list
of these related undertakings is set out below, together with the
country of incorporation, registered office (or principal place of
business) and the identity and percentage of each share class held
by Barclays Bank PLC. The information is provided as at 31
December 2025.
The entities are grouped by the countries in which they are
incorporated. The profits earned by the activities of these entities are
in some cases taxed in countries other than the country of
incorporation for example where the entity carries on business
through a branch in a territory outside of its country of
incorporation. Barclays PLC Country Snapshot provides details of
where Barclays Bank PLC carries on its business, where its profits are
subject to tax and the taxes it pays in each country it operates in.
Notes
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X\u00a0
Y
Z
AA
Directly held by Barclays Bank PLC
Partnership Interest
Membership Interest
Preference Shares
A Preference Shares
B Preference Shares
Ordinary/Common Shares in addition to other shares
A Ordinary Shares
B Ordinary Shares
C Ordinary Shares
F Ordinary Shares
First Preference Shares, Second Preference Shares
Registered Address not in country of incorporation
USD Linked Ordinary Shares\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Capital Contribution Shares
Redeemable Class B Shares
Non-Redeemable Ordinary Shares
Class A Shares
Class B Shares
Class C Shares
Class D Shares
Class E Shares
First Class Common Shares, Second Class Common Shares
Redeemable Class A Shares
Not Consolidated
LLC Share
B Shares
Wholly owned subsidiaries
Note
Unless otherwise stated, the undertakings
below are wholly owned and included in the
consolidation and the share capital held by
the Group comprises ordinary and/or
common shares, which are held by
subsidiaries of the Group. Unless otherwise
stated, the Group holds 100% of the nominal
value of each share class.
United Kingdom
1 Churchill Place, London, E14
5HP
Aequor Investments Limited
Ardencroft Investments Limited
A
B D & B Investments Limited
B.P.B. (Holdings) Limited
A
Barclays Aldersgate Investments
Limited
A
Barclays Asset Management
Limited
A
Barclays Capital Asia Holdings
Limited
Barclays Capital Nominees (No.2)
Limited
Barclays Capital Nominees (No.3)
Limited
A
Barclays Capital Nominees Limited
A
Barclays Capital Securities Client
Nominee Limited
A
Barclays Capital Securities Limited
A
Barclays CCP Funding LLP
B
Barclays Direct Investing Nominees
Limited
Barclays Directors Limited
A
Barclays Executive Schemes
Trustees Limited
A
Barclays Financial Planning
Nominee Company Limited
Barclays Gaia Holdings Limited
Barclays Group Holdings Limited
A
Barclays International Holdings
Limited
A
Barclays Investment Management
Limited
A
Barclays Investment Solutions
Limited
A
Barclays Long Island Limited
A
Barclays Nominees (George Yard)
Limited
A, Y
Barclays OCIO Services Limited
A
Barclaycard Payments Limited
Barclays Pension Funds Trustees
Limited
A
Barclays Private Bank
Barclays Services (Japan) Limited
A
Barclays Shea Limited
A
Barclays Term Funding Limited
Liability Partnership
B
Barclays Wealth Nominees Limited
A
Barclayshare Nominees Limited
Wholly owned subsidiaries
Note
Barcosec Limited
A
Barsec Nominees Limited
A
BB Client Nominees Limited
A
Chapelcrest Investments Limited
Cornwall Home Loans Limited
A
Dorset Home Loans Limited
A
Durlacher Nominees Limited
A
Eagle Financial and Leasing
Services (UK) Limited
A
Finpart Nominees Limited
A
Foltus Investments Limited
A
Hawkins Funding Limited
Heraldglen Limited
G, L
Isle of Wight Home Loans Limited
A
J.V. Estates Limited
A
Kirsche Investments Limited
A
Long Island Assets Limited
Maloney Investments Limited
Menlo Investments Limited
A
Mercantile Credit Company Limited
A
Mercantile Leasing Company
(No.132) Limited
A
MK Opportunities LP
B
Naxos Investments Limited\u00a0 (In
Liquidation 14 January 2026)
A
Northwharf Nominees Limited
A
Oak Pension Asset Management
Limited
Y
Real Estate Participation
Management Limited
Real Estate Participation Services
Limited
Relative Value Investments UK
Limited Liability Partnership
B
Relative Value Trading Limited
Roder Investments No. 1 Limited
A, G
Roder Investments No. 2 Limited
A, G
RVT CLO Investments LLP
B
Surety Trust Limited
A
Swan Lane Investments Limited
US Real Estate Holdings No.1
Limited
US Real Estate Holdings No.2
Limited
US Real Estate Holdings No.3
Limited
US Real Estate Holdings No.4
Limited
A
US Real Estate Holdings No.5
Limited
A
US Real Estate Holdings No.6
Limited
A
Water Street Investments Limited
Y
Wedd Jefferson (Nominees)
Limited
A
Westferry Investments Limited
A
Woolwich Qualifying Employee
Share Ownership Trustee Limited
A
Zeban Nominees Limited
A
Wholly owned subsidiaries
Note
C/O Teneo Financial Advisory
Limited, 3rd Floor, The Colmore
Building, 20 Colmore Circus
Queensway, Birmingham, West
Midlands, B4 6AT
Barclays Nominees (Branches)
Limited (In Liquidation)
A
Leonis Investments LLP (In
Liquidation)
B
1-4 , Clyde Place Lane, Glasgow,
G5 8DP
R.C. Greig Nominees Limited
9, all\u00e9e Scheffer, Luxembourg,
L-2520
Barclays Blossom Finance Limited
Partnership
B, M
Barclays Claudas Investments
Partnership
B, M
Barclays Pelleas Investments
Limited Partnership
B, M
Argentina
Marval, O'Farrell & Mairal, Av.
Leandro N. Alem 882, Buenos
Aires, C1001AAQ, Argentina
Alem 882, Buenos Aires,
C1001AAQ
Compa\u00f1ia Regional del Sur S.A. (In
Liquidation)
A
Brazil
Av. Brigadeiro Faria Lima,
No.4.440, 12th Floor, Bairro Itaim
Bibi, Sao Paulo, CEP, 04538-132,
Brazil
Barclays Brasil Assessoria
Financeira Ltda
A
Canada
Bay Wellington Tower, Brookfield
Place, 47th floor, 181 Bay Street,
Toronto, Ontario, M5J 2T3
Barclays Capital Canada Inc.
Barclays Corporation Limited
A
Cayman Islands
PO Box\u00a0 309, Ugland House,
George Town, Grand Cayman,
KY1-1104
Alymere Investments Limited
E, F, G
Analytical Trade UK Limited
A
Barclays Capital (Cayman)
Limited
A
Barclays Securities Financing
Limited
E, F, G
Barclays US Holdings Limited
A, D, G
Braven Investments No.1 Limited
Capton Investments Limited
Claudas Investments Limited
A, G, P,
X
Claudas Investments Two
Limited
Wholly owned subsidiaries
Note
Gallen Investments Limited
Hornbeam Limited
Y
Mintaka Investments No. 4
Limited
Palomino Limited
A
Pelleas Investments Limited
A
Pippin Island Investments
Limited
A
Razzoli Investments Limited
A
RVH Limited
A, D, G
France
34-36 avenue de Friedland,
75008, Paris
Barclays ADF SA
A
Guernsey
P.O. Box 33, Dorey Court, Admiral
Park, St.\u00a0 Peter\u00a0Port, GY1 4AT
Barclays UKRF ICC Limited
Y
Barclays UKRF No.1 IC Limited
Y
Barclays UKRF No.2 IC Ltd
Y
Hong Kong
Level 41, Cheung Kong Center, 2
Queen's Road, Central, N/A, Hong
Kong
Barclays Capital Asia Limited
A
India
Nirlon Knowledge Park, Level 9,
Block B-6, Off Western Express
Highway, Goregaon (East),
Mumbai, 400063
Barclays Securities (India) Private
Limited
Barclays Wealth Trustees (India)
Private Limited
Barclays Investments & Loans
(India) Private Limited
G
Ireland
One Molesworth Street, Dublin 2,
D02 RF29
Barclays Bank Ireland Public
Limited Company
A
Barclays Europe Client Nominees
Designated Activity Company
Barclays Europe Firm Nominees
Designated Activity Company
Barclays Europe Nominees
Designated Activity Company
25-28 North Wall Quay,
Dublin1, D01 H104
Erimon Home Loans Ireland
Limited
A
70 Sir John Rogerson\u2019s Quay,
Dublin 2,\u00a0 D02 R296, Ireland
Barclays Finance Ireland Limited
Wholly owned subsidiaries
Note
Isle of Man
Eagle Court, Circular Road,
Douglas, IM1 1AD, Isle of Man
Barclays Nominees (Manx) Limited
(In Liquidation)
A
Barclays Private Clients
International Limited
A, H, I,
Y
c/o Zedra Trust Company (Isle of
Man) Limited, 2nd Floor, St
Georges Court, Upper Church
Street, Douglas, IM1 1EE
Barclays Holdings (Isle of Man)
Limited (In Liquidation)
A
Japan
10-1, Roppongi 6-chome, Minato-
ku, Tokyo, 106-6131, Japan
Barclays Funds and Advisory Japan
Limited
Barclays Securities Japan Limited
G, E
Jersey
28 Esplanade, St Helier, JE2 3QA,
Jersey
Barclays Services Jersey Limited
(In Liquidation)
A
13 Library Place, St Helier, JE4 8NE
Barclays Nominees (Jersey)
Limited
A
Barclaytrust Channel Islands
Limited
A
Estera Trust (Jersey) Limited,
13-14 Esplanade, St Helier, JE1
1EE, Jersey
MK Opportunities GP Ltd
A
3rd Floor, 44 Esplanade, St. Helier,
JE4 9WG, Jersey
Barclaycard Payment Holdings
Limited
Barclaycard Payments Midco
Limited
Luxembourg
9, all\u00e9e Scheffer, Luxembourg,
L-2520, Luxembourg
Barclays Bedivere Investments
S.\u00e0 r.l.
G
Barclays Cantal Investments
S.\u00e0 r.l.
R, S\u00a0
Barclays Capital Luxembourg
S.\u00e0 r.l.
Barclays Treasury Luxembourg
S.\u00e0 r.l.
Barclays Claudas Investments
S.\u00e0 r.l.
Wholly owned subsidiaries
Note
Barclays International
Luxembourg Dollar Holdings\u00a0
S.\u00e0 r.l.
Barclays Lamorak Investments
S.\u00e0 r.l.
Q
Barclays Luxembourg
GBP Holdings S.\u00e0 r.l.
Q
Barclays Luxembourg Global
Funding S.\u00e0 r.l.
Barclays Luxembourg Holdings
S.\u00e0 r.l.
Barclays Luxembourg Holdings
SSC
B
68-70 Boulevard de la Petrusse,
Luxembourg, L-2320,
Luxembourg
Adler Toy Holding S.\u00e0 r.l.
10 rue du Ch\u00e2teau d\u2019Eau,
Leudelange, Grand Duchy of
Luxembourg L-3364
BPM Management GP S.\u00e0 r.l.
A
Mauritius
c/o Rogers Capital Corporate
Services Limited, Level 3, Rogers
Capital House, 5 President John
Kennedy Street, Port Louis, 11302,
Mauritius
Barclays Capital Mauritius
Limited (In Liquidation)
A
Barclays Capital Securities
Mauritius Limited
A
Fifth Floor, Ebene Esplanade, 24
Bank Street, Cybercity, Ebene,
72201, Mauritius
Barclays Mauritius Overseas
Holdings Limited
A
Mexico
Paseo de la Reforma 505, Torre
Mayor Floor 41, Colona
Cuauht\u00e9moc, 06500, Mexico City,
Mexico
Barclays Bank Mexico, S.A.
I, K
Barclays Capital Casa de Bolsa,
S.A. de C.V.
I, K
Grupo Financiero Barclays
Mexico, S.A. de C.V.
A, I, K
Monaco
31 Avenue de la Costa, Monte
Carlo, 98000, Monaco
Barclays Private Asset
Management (Monaco) S.A.M
Saudi Arabia
Wholly owned subsidiaries
Note
3rd Floor Al Dahna Center, 114
Al-Ahsa Street, PO Box 1454,
Riyadh, 11431, Saudi Arabia
Barclays Saudi Arabia (In
Liquidation)
A
Building 4.09- Unit 2- Level 9th,
King Abdullah Financial District
Riyadh, KSA, Kingdom Abdullah
Financial District, Riyadh, Saudi
Arabia
Barclays Regional\u00a0 Headquarters
Company
Singapore
10 Marina Boulevard, #25-01
Marina Bay\u00a0 Financial Centre,
Tower 2, 018983, Singapore
Barclays Merchant Bank
(Singapore) Ltd.
Spain
Calle Jose, Abascal 51, Madrid,
28003, Spain
Barclays Tenedora De Inmuebles
SL.
A
Switzerland
Chemin de Grange Canal 18-20,
PO Box 3941, Geneva, 1211,
Switzerland
Barclays Bank (Suisse) SA
BPB Holdings SA
A
Taiwan
19F-1, No. 7, Xinyi Road, Sec. 5,
Taipei, 11049, Taiwan (Province
of China)
Barclays Securities Taiwan
Limited
A
Turkey
13th floor, Kanyon Office Block,
B\u00fcy\u00fckdere Caddesi, Levent,
Istanbul, 34394, Turkey
Barclays Menkul De\u011ferler
Anonim \u015eirketi
United States
745 Seventh Avenue, New York,
Ny 10019, United States
Alynore Investments Limited
Partnership
B
Corporation Service Company,
251 Little Falls Drive, Wilmington,
Delaware, 19808, United States
Analytical Trade Holdings LLC
Barclays Asset Backed Depositor
LLC
C
Barclays Bank Delaware
D, G
Wholly owned subsidiaries
Note
Barclays Capital Derivatives
Funding LLC
C
Barclays Capital Equities Trading
GP
B
Barclays Capital Holdings Inc.
E, F, G
Barclays Capital Real Estate
Finance Inc.
Barclays Capital Real Estate
Holdings Inc.
Barclays Capital Real Estate Inc.
Barclays Commercial Mortgage
Securities LLC
C
Barclays Dryrock Funding LLC
C
Barclays Financial LLC
C
Barclays Group US Inc.
E, G
Barclays Lifestyles LLC
C
Barclays Nest LLC
C
Barclays Oversight Management
Inc.
Barclays Receivables LLC
C
Barclays Services Corporation
Barclays Services, LLC
C
Barclays STBT Inc.
Barclays US CCP Funding LLC
C
Barclays US LLC
C
Barclays US Investments Inc.
BCAP LLC
C
Gracechurch Services
Corporation
Lagalla Investments LLC
Marbury Holdings LLC
Preferred Liquidity, LLC
H
Procella Investments No.2 LLC
Z
Procella Investments No.3 LLC
Z
Relative Value Holdings, LLC
Surrey Funding Corporation
Sussex Purchasing Corporation
Sutton Funding LLC
C
US Secured Investments LLC
O
Verain Investments LLC
C
Wilmington Riverfront\u00a0 LLC
C
100 Bank Street, Suite 630,
Burlington, Vermont 05401
Barclays Insurance U.S. Inc.
Corporation Service Company, 80
State Street, Albany, NY,
12207-2543
Barclays Equity Holdings Inc.
Corporation Service Company,
Goodwin Square, 225 Asylum
Street, 20th Floor, Hartford, CT
06103, United States
Barclays Capital Inc.
Wholly owned subsidiaries
Note
Corporation Service Company,
2626, Glenwood Ave, Suite 550,
Raleigh, NC, 27608
Barclays US GPF Inc.
Equifirst Corporation (In
Liquidation, dissolved with State of
North Carolina)
Rodney Square North, 1100, North
Market Street, Wilmington,
Delaware, 19890, United States
Barclays Dryrock Issuance Trust
Wholly owned subsidiaries
Note
Unless otherwise stated, the undertakings
below are included in the consolidation and
the share capital held by Barclays Bank PLC
comprises ordinary and/or common shares,
which are held by subsidiaries of Barclays
Bank PLC. The percentage of the nominal
value of each share class held by Barclays
Bank PLC is provided below.
Other Related Undertakings
%
Note
United Kingdom
1 Churchill Place, London, E14
5HP
Barclays Secured Funding
(LM) Limited
20.00
A
Barclays Secured Notes
Finance LLP
20.00
A
50 Lothian Road, Festival
Square, Edinburgh, EH3 9WJ
Equistone Founder Partner III
L.P.
20.00
A,B,
Y
Enigma, Wavendon Business
Park Milton Keynes,
MK178LX
Intelligent Processing
Solutions Limited
19.50
Y
Korea, Republic of
18th Floor, Daishin Finance
Center, 343, Samil-daero,
Jung-gu, Seoul, 04538,
South Korea
Woori BC Pegasus
Securitization Specialty Co.
Ltd
70.00
W
Luxembourg
9, all\u00e9e Scheffer,
Luxembourg, L-2520,
Barclays Alzin Investments
S.\u00e0 r.l.
100.00
R,S,
U
Barclays Bordang Investments
S.\u00e0 r.l.
100.00
R, S
Netherlands
Winschoterdiep, 70,
Groningen, 9723AB,
Groningen,
Cube Solidus B.V.
68.83
AA
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-612": { "value": "Investments in associates and joint ventures
There are no individually significant investments in joint ventures or associates held by Barclays Bank Group.
2025
2024
Associates
Joint ventures
Total
Associates
Joint ventures
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Equity accounted (Group)
14
\u2014
14
14
\u2014
14
2025
2024
Associates
Joint ventures
Total
Associates
Joint ventures
Total
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Equity accounted (Parent)
12
\u2014
12
12
\u2014
12
Summarised financial information for the Barclays Bank Group\u2019s equity accounted associates and joint ventures is set out
below. The amounts shown are the Barclays Bank Group\u2019s share of the net income of the investees for the year ended 31
December 2025, with the exception of certain undertakings for which the amounts are based on accounts made up to dates
not earlier than three months before the balance sheet date.
Associates
Joint ventures
2025
2024
2023
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
(Loss)/Profit from continuing operations
\u2014
\u2014
(4)
\u2014
\u2014
\u2014
Other comprehensive income
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
Total comprehensive (loss)/income from
continuing operations
\u2014
\u2014
(4)
\u2014
\u2014
\u2014
Related Undertakings
The Barclays Bank PLC\u2019s corporate structure consists of a number of
related undertakings, comprising subsidiary undertakings, joint
ventures, associated undertakings and significant holdings. A full list
of these related undertakings is set out below, together with the
country of incorporation, registered office (or principal place of
business) and the identity and percentage of each share class held
by Barclays Bank PLC. The information is provided as at 31
December 2025.
The entities are grouped by the countries in which they are
incorporated. The profits earned by the activities of these entities are
in some cases taxed in countries other than the country of
incorporation for example where the entity carries on business
through a branch in a territory outside of its country of
incorporation. Barclays PLC Country Snapshot provides details of
where Barclays Bank PLC carries on its business, where its profits are
subject to tax and the taxes it pays in each country it operates in.
Notes
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X\u00a0
Y
Z
AA
Directly held by Barclays Bank PLC
Partnership Interest
Membership Interest
Preference Shares
A Preference Shares
B Preference Shares
Ordinary/Common Shares in addition to other shares
A Ordinary Shares
B Ordinary Shares
C Ordinary Shares
F Ordinary Shares
First Preference Shares, Second Preference Shares
Registered Address not in country of incorporation
USD Linked Ordinary Shares\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Capital Contribution Shares
Redeemable Class B Shares
Non-Redeemable Ordinary Shares
Class A Shares
Class B Shares
Class C Shares
Class D Shares
Class E Shares
First Class Common Shares, Second Class Common Shares
Redeemable Class A Shares
Not Consolidated
LLC Share
B Shares
Wholly owned subsidiaries
Note
Unless otherwise stated, the undertakings
below are wholly owned and included in the
consolidation and the share capital held by
the Group comprises ordinary and/or
common shares, which are held by
subsidiaries of the Group. Unless otherwise
stated, the Group holds 100% of the nominal
value of each share class.
United Kingdom
1 Churchill Place, London, E14
5HP
Aequor Investments Limited
Ardencroft Investments Limited
A
B D & B Investments Limited
B.P.B. (Holdings) Limited
A
Barclays Aldersgate Investments
Limited
A
Barclays Asset Management
Limited
A
Barclays Capital Asia Holdings
Limited
Barclays Capital Nominees (No.2)
Limited
Barclays Capital Nominees (No.3)
Limited
A
Barclays Capital Nominees Limited
A
Barclays Capital Securities Client
Nominee Limited
A
Barclays Capital Securities Limited
A
Barclays CCP Funding LLP
B
Barclays Direct Investing Nominees
Limited
Barclays Directors Limited
A
Barclays Executive Schemes
Trustees Limited
A
Barclays Financial Planning
Nominee Company Limited
Barclays Gaia Holdings Limited
Barclays Group Holdings Limited
A
Barclays International Holdings
Limited
A
Barclays Investment Management
Limited
A
Barclays Investment Solutions
Limited
A
Barclays Long Island Limited
A
Barclays Nominees (George Yard)
Limited
A, Y
Barclays OCIO Services Limited
A
Barclaycard Payments Limited
Barclays Pension Funds Trustees
Limited
A
Barclays Private Bank
Barclays Services (Japan) Limited
A
Barclays Shea Limited
A
Barclays Term Funding Limited
Liability Partnership
B
Barclays Wealth Nominees Limited
A
Barclayshare Nominees Limited
Wholly owned subsidiaries
Note
Barcosec Limited
A
Barsec Nominees Limited
A
BB Client Nominees Limited
A
Chapelcrest Investments Limited
Cornwall Home Loans Limited
A
Dorset Home Loans Limited
A
Durlacher Nominees Limited
A
Eagle Financial and Leasing
Services (UK) Limited
A
Finpart Nominees Limited
A
Foltus Investments Limited
A
Hawkins Funding Limited
Heraldglen Limited
G, L
Isle of Wight Home Loans Limited
A
J.V. Estates Limited
A
Kirsche Investments Limited
A
Long Island Assets Limited
Maloney Investments Limited
Menlo Investments Limited
A
Mercantile Credit Company Limited
A
Mercantile Leasing Company
(No.132) Limited
A
MK Opportunities LP
B
Naxos Investments Limited\u00a0 (In
Liquidation 14 January 2026)
A
Northwharf Nominees Limited
A
Oak Pension Asset Management
Limited
Y
Real Estate Participation
Management Limited
Real Estate Participation Services
Limited
Relative Value Investments UK
Limited Liability Partnership
B
Relative Value Trading Limited
Roder Investments No. 1 Limited
A, G
Roder Investments No. 2 Limited
A, G
RVT CLO Investments LLP
B
Surety Trust Limited
A
Swan Lane Investments Limited
US Real Estate Holdings No.1
Limited
US Real Estate Holdings No.2
Limited
US Real Estate Holdings No.3
Limited
US Real Estate Holdings No.4
Limited
A
US Real Estate Holdings No.5
Limited
A
US Real Estate Holdings No.6
Limited
A
Water Street Investments Limited
Y
Wedd Jefferson (Nominees)
Limited
A
Westferry Investments Limited
A
Woolwich Qualifying Employee
Share Ownership Trustee Limited
A
Zeban Nominees Limited
A
Wholly owned subsidiaries
Note
C/O Teneo Financial Advisory
Limited, 3rd Floor, The Colmore
Building, 20 Colmore Circus
Queensway, Birmingham, West
Midlands, B4 6AT
Barclays Nominees (Branches)
Limited (In Liquidation)
A
Leonis Investments LLP (In
Liquidation)
B
1-4 , Clyde Place Lane, Glasgow,
G5 8DP
R.C. Greig Nominees Limited
9, all\u00e9e Scheffer, Luxembourg,
L-2520
Barclays Blossom Finance Limited
Partnership
B, M
Barclays Claudas Investments
Partnership
B, M
Barclays Pelleas Investments
Limited Partnership
B, M
Argentina
Marval, O'Farrell & Mairal, Av.
Leandro N. Alem 882, Buenos
Aires, C1001AAQ, Argentina
Alem 882, Buenos Aires,
C1001AAQ
Compa\u00f1ia Regional del Sur S.A. (In
Liquidation)
A
Brazil
Av. Brigadeiro Faria Lima,
No.4.440, 12th Floor, Bairro Itaim
Bibi, Sao Paulo, CEP, 04538-132,
Brazil
Barclays Brasil Assessoria
Financeira Ltda
A
Canada
Bay Wellington Tower, Brookfield
Place, 47th floor, 181 Bay Street,
Toronto, Ontario, M5J 2T3
Barclays Capital Canada Inc.
Barclays Corporation Limited
A
Cayman Islands
PO Box\u00a0 309, Ugland House,
George Town, Grand Cayman,
KY1-1104
Alymere Investments Limited
E, F, G
Analytical Trade UK Limited
A
Barclays Capital (Cayman)
Limited
A
Barclays Securities Financing
Limited
E, F, G
Barclays US Holdings Limited
A, D, G
Braven Investments No.1 Limited
Capton Investments Limited
Claudas Investments Limited
A, G, P,
X
Claudas Investments Two
Limited
Wholly owned subsidiaries
Note
Gallen Investments Limited
Hornbeam Limited
Y
Mintaka Investments No. 4
Limited
Palomino Limited
A
Pelleas Investments Limited
A
Pippin Island Investments
Limited
A
Razzoli Investments Limited
A
RVH Limited
A, D, G
France
34-36 avenue de Friedland,
75008, Paris
Barclays ADF SA
A
Guernsey
P.O. Box 33, Dorey Court, Admiral
Park, St.\u00a0 Peter\u00a0Port, GY1 4AT
Barclays UKRF ICC Limited
Y
Barclays UKRF No.1 IC Limited
Y
Barclays UKRF No.2 IC Ltd
Y
Hong Kong
Level 41, Cheung Kong Center, 2
Queen's Road, Central, N/A, Hong
Kong
Barclays Capital Asia Limited
A
India
Nirlon Knowledge Park, Level 9,
Block B-6, Off Western Express
Highway, Goregaon (East),
Mumbai, 400063
Barclays Securities (India) Private
Limited
Barclays Wealth Trustees (India)
Private Limited
Barclays Investments & Loans
(India) Private Limited
G
Ireland
One Molesworth Street, Dublin 2,
D02 RF29
Barclays Bank Ireland Public
Limited Company
A
Barclays Europe Client Nominees
Designated Activity Company
Barclays Europe Firm Nominees
Designated Activity Company
Barclays Europe Nominees
Designated Activity Company
25-28 North Wall Quay,
Dublin1, D01 H104
Erimon Home Loans Ireland
Limited
A
70 Sir John Rogerson\u2019s Quay,
Dublin 2,\u00a0 D02 R296, Ireland
Barclays Finance Ireland Limited
Wholly owned subsidiaries
Note
Isle of Man
Eagle Court, Circular Road,
Douglas, IM1 1AD, Isle of Man
Barclays Nominees (Manx) Limited
(In Liquidation)
A
Barclays Private Clients
International Limited
A, H, I,
Y
c/o Zedra Trust Company (Isle of
Man) Limited, 2nd Floor, St
Georges Court, Upper Church
Street, Douglas, IM1 1EE
Barclays Holdings (Isle of Man)
Limited (In Liquidation)
A
Japan
10-1, Roppongi 6-chome, Minato-
ku, Tokyo, 106-6131, Japan
Barclays Funds and Advisory Japan
Limited
Barclays Securities Japan Limited
G, E
Jersey
28 Esplanade, St Helier, JE2 3QA,
Jersey
Barclays Services Jersey Limited
(In Liquidation)
A
13 Library Place, St Helier, JE4 8NE
Barclays Nominees (Jersey)
Limited
A
Barclaytrust Channel Islands
Limited
A
Estera Trust (Jersey) Limited,
13-14 Esplanade, St Helier, JE1
1EE, Jersey
MK Opportunities GP Ltd
A
3rd Floor, 44 Esplanade, St. Helier,
JE4 9WG, Jersey
Barclaycard Payment Holdings
Limited
Barclaycard Payments Midco
Limited
Luxembourg
9, all\u00e9e Scheffer, Luxembourg,
L-2520, Luxembourg
Barclays Bedivere Investments
S.\u00e0 r.l.
G
Barclays Cantal Investments
S.\u00e0 r.l.
R, S\u00a0
Barclays Capital Luxembourg
S.\u00e0 r.l.
Barclays Treasury Luxembourg
S.\u00e0 r.l.
Barclays Claudas Investments
S.\u00e0 r.l.
Wholly owned subsidiaries
Note
Barclays International
Luxembourg Dollar Holdings\u00a0
S.\u00e0 r.l.
Barclays Lamorak Investments
S.\u00e0 r.l.
Q
Barclays Luxembourg
GBP Holdings S.\u00e0 r.l.
Q
Barclays Luxembourg Global
Funding S.\u00e0 r.l.
Barclays Luxembourg Holdings
S.\u00e0 r.l.
Barclays Luxembourg Holdings
SSC
B
68-70 Boulevard de la Petrusse,
Luxembourg, L-2320,
Luxembourg
Adler Toy Holding S.\u00e0 r.l.
10 rue du Ch\u00e2teau d\u2019Eau,
Leudelange, Grand Duchy of
Luxembourg L-3364
BPM Management GP S.\u00e0 r.l.
A
Mauritius
c/o Rogers Capital Corporate
Services Limited, Level 3, Rogers
Capital House, 5 President John
Kennedy Street, Port Louis, 11302,
Mauritius
Barclays Capital Mauritius
Limited (In Liquidation)
A
Barclays Capital Securities
Mauritius Limited
A
Fifth Floor, Ebene Esplanade, 24
Bank Street, Cybercity, Ebene,
72201, Mauritius
Barclays Mauritius Overseas
Holdings Limited
A
Mexico
Paseo de la Reforma 505, Torre
Mayor Floor 41, Colona
Cuauht\u00e9moc, 06500, Mexico City,
Mexico
Barclays Bank Mexico, S.A.
I, K
Barclays Capital Casa de Bolsa,
S.A. de C.V.
I, K
Grupo Financiero Barclays
Mexico, S.A. de C.V.
A, I, K
Monaco
31 Avenue de la Costa, Monte
Carlo, 98000, Monaco
Barclays Private Asset
Management (Monaco) S.A.M
Saudi Arabia
Wholly owned subsidiaries
Note
3rd Floor Al Dahna Center, 114
Al-Ahsa Street, PO Box 1454,
Riyadh, 11431, Saudi Arabia
Barclays Saudi Arabia (In
Liquidation)
A
Building 4.09- Unit 2- Level 9th,
King Abdullah Financial District
Riyadh, KSA, Kingdom Abdullah
Financial District, Riyadh, Saudi
Arabia
Barclays Regional\u00a0 Headquarters
Company
Singapore
10 Marina Boulevard, #25-01
Marina Bay\u00a0 Financial Centre,
Tower 2, 018983, Singapore
Barclays Merchant Bank
(Singapore) Ltd.
Spain
Calle Jose, Abascal 51, Madrid,
28003, Spain
Barclays Tenedora De Inmuebles
SL.
A
Switzerland
Chemin de Grange Canal 18-20,
PO Box 3941, Geneva, 1211,
Switzerland
Barclays Bank (Suisse) SA
BPB Holdings SA
A
Taiwan
19F-1, No. 7, Xinyi Road, Sec. 5,
Taipei, 11049, Taiwan (Province
of China)
Barclays Securities Taiwan
Limited
A
Turkey
13th floor, Kanyon Office Block,
B\u00fcy\u00fckdere Caddesi, Levent,
Istanbul, 34394, Turkey
Barclays Menkul De\u011ferler
Anonim \u015eirketi
United States
745 Seventh Avenue, New York,
Ny 10019, United States
Alynore Investments Limited
Partnership
B
Corporation Service Company,
251 Little Falls Drive, Wilmington,
Delaware, 19808, United States
Analytical Trade Holdings LLC
Barclays Asset Backed Depositor
LLC
C
Barclays Bank Delaware
D, G
Wholly owned subsidiaries
Note
Barclays Capital Derivatives
Funding LLC
C
Barclays Capital Equities Trading
GP
B
Barclays Capital Holdings Inc.
E, F, G
Barclays Capital Real Estate
Finance Inc.
Barclays Capital Real Estate
Holdings Inc.
Barclays Capital Real Estate Inc.
Barclays Commercial Mortgage
Securities LLC
C
Barclays Dryrock Funding LLC
C
Barclays Financial LLC
C
Barclays Group US Inc.
E, G
Barclays Lifestyles LLC
C
Barclays Nest LLC
C
Barclays Oversight Management
Inc.
Barclays Receivables LLC
C
Barclays Services Corporation
Barclays Services, LLC
C
Barclays STBT Inc.
Barclays US CCP Funding LLC
C
Barclays US LLC
C
Barclays US Investments Inc.
BCAP LLC
C
Gracechurch Services
Corporation
Lagalla Investments LLC
Marbury Holdings LLC
Preferred Liquidity, LLC
H
Procella Investments No.2 LLC
Z
Procella Investments No.3 LLC
Z
Relative Value Holdings, LLC
Surrey Funding Corporation
Sussex Purchasing Corporation
Sutton Funding LLC
C
US Secured Investments LLC
O
Verain Investments LLC
C
Wilmington Riverfront\u00a0 LLC
C
100 Bank Street, Suite 630,
Burlington, Vermont 05401
Barclays Insurance U.S. Inc.
Corporation Service Company, 80
State Street, Albany, NY,
12207-2543
Barclays Equity Holdings Inc.
Corporation Service Company,
Goodwin Square, 225 Asylum
Street, 20th Floor, Hartford, CT
06103, United States
Barclays Capital Inc.
Wholly owned subsidiaries
Note
Corporation Service Company,
2626, Glenwood Ave, Suite 550,
Raleigh, NC, 27608
Barclays US GPF Inc.
Equifirst Corporation (In
Liquidation, dissolved with State of
North Carolina)
Rodney Square North, 1100, North
Market Street, Wilmington,
Delaware, 19890, United States
Barclays Dryrock Issuance Trust
Wholly owned subsidiaries
Note
Unless otherwise stated, the undertakings
below are included in the consolidation and
the share capital held by Barclays Bank PLC
comprises ordinary and/or common shares,
which are held by subsidiaries of Barclays
Bank PLC. The percentage of the nominal
value of each share class held by Barclays
Bank PLC is provided below.
Other Related Undertakings
%
Note
United Kingdom
1 Churchill Place, London, E14
5HP
Barclays Secured Funding
(LM) Limited
20.00
A
Barclays Secured Notes
Finance LLP
20.00
A
50 Lothian Road, Festival
Square, Edinburgh, EH3 9WJ
Equistone Founder Partner III
L.P.
20.00
A,B,
Y
Enigma, Wavendon Business
Park Milton Keynes,
MK178LX
Intelligent Processing
Solutions Limited
19.50
Y
Korea, Republic of
18th Floor, Daishin Finance
Center, 343, Samil-daero,
Jung-gu, Seoul, 04538,
South Korea
Woori BC Pegasus
Securitization Specialty Co.
Ltd
70.00
W
Luxembourg
9, all\u00e9e Scheffer,
Luxembourg, L-2520,
Barclays Alzin Investments
S.\u00e0 r.l.
100.00
R,S,
U
Barclays Bordang Investments
S.\u00e0 r.l.
100.00
R, S
Netherlands
Winschoterdiep, 70,
Groningen, 9723AB,
Groningen,
Cube Solidus B.V.
68.83
AA
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-613": { "value": "Assets pledged, collateral received and assets transferred
Assets are pledged or transferred as collateral to secure liabilities under repurchase agreements, securitisations and stock
lending agreements or as security deposits relating to derivatives. Assets transferred are non-cash assets transferred to a
third party that do not qualify for derecognition from the Barclays Bank Group\u2019s balance sheet, for example because the
Barclays Bank Group retains substantially all the exposure to those assets under an agreement to repurchase them in the
future for a fixed price.
Where non-cash assets are pledged or transferred as collateral for cash received, the asset continues to be recognised in full,
and a related liability is also recognised on the balance sheet. Where non-cash assets are pledged or transferred as collateral
in an exchange for non-cash assets, the transferred asset continues to be recognised in full, and there is no associated
liability as the non-cash collateral received is not recognised on the balance sheet. The Barclays Bank Group is unable to use,
sell or pledge the transferred assets for the duration of the transaction and remains exposed to interest rate risk and credit
risk on these pledged assets. Unless stated, the counterparty's recourse is not limited to the transferred assets.
Collateralised transactions, such as securities lending and borrowing, repurchase and derivative transactions are conducted
in accordance with standard terms which are customary in the market.
The following table summarises the nature and carrying amount of the assets pledged as security:
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Cash collateral
75,695
72,415
Loans and advances at amortised cost
22,398
41,205
Trading portfolio assets
114,852
107,249
Financial assets at fair value through the income statement
5,653
5,729
Financial assets at fair value through other comprehensive income
15,019
20,420
Assets pledged
233,617
247,018
The following table summarises the transferred financial assets and the associated liabilities. The transferred assets
represent the gross carrying value of the assets pledged and the associated liabilities represent the liability recorded on the
balance sheet.
Barclays Bank Group
Transferred assets
Associated liabilities
\u00a3m
\u00a3m
At 31 December 2025
Derivatives
79,223
(79,223)
Repurchase agreements
51,922
(33,891)
Securities lending arrangements
96,638
\u2014
Other
5,834
(5,583)
233,617
(118,697)
At 31 December 2024
Derivatives
74,307
(74,307)
Repurchase agreements
60,564
(40,173)
Securities lending arrangements
104,450
\u2014
Other
7,697
(7,271)
247,018
(121,751)
For repurchase agreements the difference between transferred assets and associated liabilities is predominantly due to IFRS
netting. Included within Other are agreements where a counterparty's recourse is limited to the transferred assets. The
relationship between the gross transferred assets and the associated liabilities is that holders of notes may only look to cash
flows from the securitised assets for payments of principal and interest due to them under the terms of their notes.
Carrying value
Fair value
Transferred
assets
Associated
liabilities
Transferred
assets
Associated
liabilities
Net position
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Barclays Bank Group
2025
Recourse to transferred assets only
5,879
(929)
5,935
(933)
5,002
2024
Recourse to transferred assets only
6,575
(1,575)
7,158
(1,579)
5,579
The Barclays Bank Group has an additional \u00a34,213m (2024: \u00a33,770m) of loans and advances within its asset backed funding
programmes that can readily be used to raise additional secured funding and are available to support future issuances.
Collateral held as security for assets
Under certain transactions, including reverse repurchase agreements and stock borrowing transactions, the Barclays Bank
Group is allowed to resell or re-pledge the collateral held. Collateralised transactions, such as securities lending and
borrowing, repurchase and derivative transactions are conducted in accordance with standard terms which are customary
in the market.
The fair value at the balance sheet date of collateral accepted and re-pledged to others was as follows:
Barclays Bank Group
2025
2024
\u00a3m
\u00a3m
Fair value of securities accepted as collateral
1,511,839
1,317,237
Of which fair value of securities re-pledged/transferred to others
1,389,012
1,193,809
", "dimensions": { "concept": "ifrs-full:DisclosureOfCollateralExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-614": { "value": "
Assets are pledged or transferred as collateral to secure liabilities under repurchase agreements, securitisations and stock
lending agreements or as security deposits relating to derivatives. Assets transferred are non-cash assets transferred to a
third party that do not qualify for derecognition from the Barclays Bank Group\u2019s balance sheet, for example because the
Barclays Bank Group retains substantially all the exposure to those assets under an agreement to repurchase them in the
future for a fixed price.
Where non-cash assets are pledged or transferred as collateral for cash received, the asset continues to be recognised in full,
and a related liability is also recognised on the balance sheet. Where non-cash assets are pledged or transferred as collateral
in an exchange for non-cash assets, the transferred asset continues to be recognised in full, and there is no associated
liability as the non-cash collateral received is not recognised on the balance sheet. The Barclays Bank Group is unable to use,
sell or pledge the transferred assets for the duration of the transaction and remains exposed to interest rate risk and credit
risk on these pledged assets. Unless stated, the counterparty's recourse is not limited to the transferred assets.
Collateralised transactions, such as securities lending and borrowing, repurchase and derivative transactions are conducted
in accordance with standard terms which are customary in the market.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCollateralExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-615": { "value": "Related party transactions and Directors\u2019 remuneration
Related party transactions
Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over
the other party in making financial or operational decisions, or one other party controls both.
Parent company
The parent company, which is also the ultimate parent company, is Barclays PLC, which holds 100% of the issued ordinary
shares of Barclays Bank PLC.\u00a0 The largest group in which the results of Barclays Bank PLC are consolidated is headed by
Barclays PLC, 1 Churchill Place London E14 5HP. The consolidated financial statements of Barclays PLC Group are available
to the public and may be obtained from Barclays Corporate Secretariat, 1 Churchill Place London E14 5HP.
Subsidiaries
Transactions between Barclays Bank PLC and its subsidiaries also meet the definition of related party transactions. Where
these are eliminated on consolidation, they are not disclosed in the Barclays Bank Group\u2019s financial statements. A list of the
Barclays Bank Group\u2019s principal subsidiaries is shown in Note 31.
Fellow subsidiaries
Transactions between the Barclays Bank Group and other subsidiaries of the parent company also meet the definition of
related party transactions. \u00a0
Other entities
The Barclays Bank Group provides banking services to Barclays Bank Group pension funds (principally the UK Retirement
Fund) and other entities, providing loans, overdrafts, interest and non-interest bearing deposits and current accounts to
these entities as well as other services. Barclays Bank Group companies also provide investment management and custodian
services to the Barclays Bank Group pension schemes. All of these transactions are conducted on the same terms as third
party transactions. Summarised financial information for the Barclays Bank Group\u2019s investments in associates and joint
ventures is set out in Note 33.
Amounts included in the Barclays Bank Group\u2019s financial statements, in aggregate, by category of related party entity are as
follows:
Parent
Fellow
subsidiaries
Pension funds
Other related
parties
\u00a3m
\u00a3m
\u00a3m
\u00a3m
For the year ended and as at 31 December 2025
Total income
(2,276)
75
4
42
Operating expenses
(105)
(4,794)
\u2014
\u2014
Total assets
1,136
8,497
\u2014
\u2014
Total liabilities
46,360
8,438
140
126
For the year ended and as at 31 December 2024
Total income
(1,994)
172
(1)
54
Operating expenses
(92)
(4,361)
\u2014
\u2014
Total assets
1,338
6,753
\u2014
1,104
Total liabilities
44,678
8,588
176
64
For the year ended and as at 31 December 2023
Total income
(1,712)
164
1
52
Operating expenses
(89)
(4,157)
(1)
\u2014
Total liabilities include derivatives transacted on behalf of the pensions funds of \u00a389m (2024: \u00a3100m).
Key Management Personnel
Key Management Personnel are defined as those persons having authority and responsibility for planning, directing and
controlling the activities of Barclays Bank PLC (directly or indirectly) and comprise the Directors and Officers of Barclays
Bank PLC, certain direct reports of the Chief Executive Officer and the heads of major business units and functions.
The Barclays Bank Group provides banking services to Key Management Personnel and persons connected to them.
Transactions during the year and the balances outstanding were as follows:
Banking Services provided
2025
2024
\u00a3m
\u00a3m
Loans outstanding as at 31 December
12.9
10.8
Deposits outstanding as at 31 December
14.8
9.5
Total commitments outstanding
Total commitments outstanding refer to the total of any undrawn amounts on credit card and/or overdraft facilities
provided to Key Management Personnel. Total commitments outstanding as at 31\u00a0December 2025 were \u00a30.1m (2024:
\u00a30.1m).
All loans to Key Management Personnel (and persons connected to them) were made in the ordinary course of business;
were made on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for
comparable transactions with other persons; and did not involve more than a normal risk of collectability or present other
unfavourable features.
Remuneration of Key Management Personnel
Total remuneration awarded to Key Management Personnel below represents salaries, short term benefits and pensions
contributions received during the year and awards made as part of the latest remuneration decisions in relation to the year.
Costs recognised in the income statement reflect the accounting charge for the year included within operating expenses.
The difference between the values awarded and the recognised income statement charge principally relates to the
recognition of costs for deferred awards. Figures are provided for the period that individuals met the definition of Key
Management Personnel.
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Salaries and other short-term benefits
42.3
42.9
46.1
Pension costs
0.2
0.2
0.2
Other long-term benefits
10.8
10.8
10.8
Share-based payments
26.5
21.9
16.3
Employer social security charges on emoluments
7.9
7.2
8.2
Costs recognised for accounting purposes
87.7
83.0
81.6
Employer social security charges on emoluments
(7.9)
(7.2)
(8.2)
Other long-term benefits \u2013 difference between awards granted and costs recognised
7.6
5.3
2.1
Share-based payments \u2013 difference between awards granted and costs recognised
6.8
2.6
4.5
Total remuneration awarded
94.2
83.7
80.0
Disclosure required by the Companies Act 2006
The following information regarding the Barclays Bank PLC Board of Directors is presented in accordance with the
Companies Act 2006:
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Aggregate emoluments 1
9.1
8.3
7.2
Amounts paid under LTIPs2
1.2
\u2014
\u2014
10.3
8.3
7.2
Notes
1The aggregate emoluments include amounts paid for the 2025 year. In addition, deferred share awards for 2025 with a total value at grant of
\u00a31.3m (2024: \u00a31.8m, 2023: \u00a31.5m) will be made to Directors which will only vest subject to meeting certain conditions.
2The figure above for \"Amounts paid under LTIPs\" for 2025 relates to tranches of prior year LTIP awards that were released to Directors during the
year.
There were no pension contributions paid to defined contribution schemes on behalf of Directors (2024: \u00a3nil, 2023: \u00a3nil).
There were no notional pension contributions to defined contribution schemes.
As at 31\u00a0December 2025, there were no Directors accruing benefits under a defined benefit scheme (2024 : nil, 2023: nil).
The aggregate amount of compensation payable to departing officers in respect of loss of office was \u00a315,300 (2024: \u00a37,398,
2023: \u00a330,519).
Of the figures in the table above, the amounts attributable to the highest paid Director in respect of qualifying services are as
follows:
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Aggregate emoluments 1
4.8
4.3
3.6
Amounts paid under LTIPs
1.2
\u2014
\u2014
6.0
4.3
3.6
Note
1The aggregate emoluments include amounts paid for the 2025 year. In addition, a deferred share award for 2025 with a value at grant of \u00a30.8m
(2024: \u00a31.1m, 2023: \u00a31m) will be made to the highest paid Director which will only vest subject to meeting certain conditions.
There were no actual pension contributions paid to defined contribution schemes on behalf of the highest paid Director
( 2024: \u00a3nil, 2023: \u00a3nil). There were no notional pension contributions to defined contribution schemes (2024: \u00a3nil, 2023:
\u00a3nil).
Advances and credit to Directors and guarantees on behalf of Directors
In accordance with Section 413 of the Companies Act 2006, the total amount of advances and credits made available in
2025 to persons who served as Directors during the year was \u00a3nil (2024: \u00a3nil). The total value of guarantees entered into on
behalf of Directors during 2025 was \u00a3nil (2024: \u00a3nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-616": { "value": "
Related party transactions
Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over
the other party in making financial or operational decisions, or one other party controls both.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-617": { "value": "
Key Management Personnel
Key Management Personnel are defined as those persons having authority and responsibility for planning, directing and
controlling the activities of Barclays Bank PLC (directly or indirectly) and comprise the Directors and Officers of Barclays
Bank PLC, certain direct reports of the Chief Executive Officer and the heads of major business units and functions.
The Barclays Bank Group provides banking services to Key Management Personnel and persons connected to them.
Transactions during the year and the balances outstanding were as follows:
Banking Services provided
2025
2024
\u00a3m
\u00a3m
Loans outstanding as at 31 December
12.9
10.8
Deposits outstanding as at 31 December
14.8
9.5
Total commitments outstanding
Total commitments outstanding refer to the total of any undrawn amounts on credit card and/or overdraft facilities
provided to Key Management Personnel. Total commitments outstanding as at 31\u00a0December 2025 were \u00a30.1m (2024:
\u00a30.1m).
All loans to Key Management Personnel (and persons connected to them) were made in the ordinary course of business;
were made on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for
comparable transactions with other persons; and did not involve more than a normal risk of collectability or present other
unfavourable features.
Remuneration of Key Management Personnel
Total remuneration awarded to Key Management Personnel below represents salaries, short term benefits and pensions
contributions received during the year and awards made as part of the latest remuneration decisions in relation to the year.
Costs recognised in the income statement reflect the accounting charge for the year included within operating expenses.
The difference between the values awarded and the recognised income statement charge principally relates to the
recognition of costs for deferred awards. Figures are provided for the period that individuals met the definition of Key
Management Personnel.
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Salaries and other short-term benefits
42.3
42.9
46.1
Pension costs
0.2
0.2
0.2
Other long-term benefits
10.8
10.8
10.8
Share-based payments
26.5
21.9
16.3
Employer social security charges on emoluments
7.9
7.2
8.2
Costs recognised for accounting purposes
87.7
83.0
81.6
Employer social security charges on emoluments
(7.9)
(7.2)
(8.2)
Other long-term benefits \u2013 difference between awards granted and costs recognised
7.6
5.3
2.1
Share-based payments \u2013 difference between awards granted and costs recognised
6.8
2.6
4.5
Total remuneration awarded
94.2
83.7
80.0
Disclosure required by the Companies Act 2006
The following information regarding the Barclays Bank PLC Board of Directors is presented in accordance with the
Companies Act 2006:
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Aggregate emoluments 1
9.1
8.3
7.2
Amounts paid under LTIPs2
1.2
\u2014
\u2014
10.3
8.3
7.2
Notes
1The aggregate emoluments include amounts paid for the 2025 year. In addition, deferred share awards for 2025 with a total value at grant of
\u00a31.3m (2024: \u00a31.8m, 2023: \u00a31.5m) will be made to Directors which will only vest subject to meeting certain conditions.
2The figure above for \"Amounts paid under LTIPs\" for 2025 relates to tranches of prior year LTIP awards that were released to Directors during the
year.
There were no pension contributions paid to defined contribution schemes on behalf of Directors (2024: \u00a3nil, 2023: \u00a3nil).
There were no notional pension contributions to defined contribution schemes.
As at 31\u00a0December 2025, there were no Directors accruing benefits under a defined benefit scheme (2024 : nil, 2023: nil).
The aggregate amount of compensation payable to departing officers in respect of loss of office was \u00a315,300 (2024: \u00a37,398,
2023: \u00a330,519).
Of the figures in the table above, the amounts attributable to the highest paid Director in respect of qualifying services are as
follows:
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Aggregate emoluments 1
4.8
4.3
3.6
Amounts paid under LTIPs
1.2
\u2014
\u2014
6.0
4.3
3.6
Note
1The aggregate emoluments include amounts paid for the 2025 year. In addition, a deferred share award for 2025 with a value at grant of \u00a30.8m
(2024: \u00a31.1m, 2023: \u00a31m) will be made to the highest paid Director which will only vest subject to meeting certain conditions.
There were no actual pension contributions paid to defined contribution schemes on behalf of the highest paid Director
( 2024: \u00a3nil, 2023: \u00a3nil). There were no notional pension contributions to defined contribution schemes (2024: \u00a3nil, 2023:
\u00a3nil).
Advances and credit to Directors and guarantees on behalf of Directors
In accordance with Section 413 of the Companies Act 2006, the total amount of advances and credits made available in
2025 to persons who served as Directors during the year was \u00a3nil (2024: \u00a3nil). The total value of guarantees entered into on
behalf of Directors during 2025 was \u00a3nil (2024: \u00a3nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-619": { "value": "Acquisition and Disposals of subsidiaries
During the year ending 31 December 2025, significant transactions included Barclays Capital Asia Limited (BCAL) being sold
by Barclays Bank PLC to its subsidiary Barclays International Holdings Limited for a consideration of \u00a3227m. The sale of the
BCAL shares was at fair value resulting in a \u00a35m gain on sale as well as a derecognition of the cost of investment in Barclays
Bank PLC.
There were no disposals of subsidiaries in 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-618": { "value": "Acquisition and Disposals of subsidiaries
During the year ending 31 December 2025, significant transactions included Barclays Capital Asia Limited (BCAL) being sold
by Barclays Bank PLC to its subsidiary Barclays International Holdings Limited for a consideration of \u00a3227m. The sale of the
BCAL shares was at fair value resulting in a \u00a35m gain on sale as well as a derecognition of the cost of investment in Barclays
Bank PLC.
There were no disposals of subsidiaries in 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-620": { "value": "Auditor\u2019s remuneration
Auditor\u2019s remuneration is included within consultancy, legal and professional fees in administration and general expenses
and comprises:
2025
2024
2023
\u00a3m
\u00a3m
\u00a3m
Audit of the Barclays Bank Group's annual accounts
22
23
22
Other services:
Audit of the Barclays Bank PLC subsidiaries1
19
19
18
Other audit related fees2
12
10
8
Other services
4
5
1
Total Auditor's remuneration
57
57
49
Notes
1Comprises the fees for the statutory audit of the subsidiaries both inside and outside UK and fees for the work performed by associates of KPMG
in respect of the consolidated financial statements of Barclays Bank PLC.
2Comprises services in relation to statutory and regulatory filings. These include audit services for the review of the interim financial information
under the Listing Rules of the UK listing authority.
Audit scope changes are finalised following the completion of the audit and recognised when agreed. The 2025 audit fee
includes \u00a3nil (2024 : \u00a3nil, 2023: \u00a31m) relating to the previous year\u2019s audit.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-621": { "value": "Assets and liabilities included in disposal group classified as held for sale
Accounting for non-current assets held for sale and associated liabilities
The Barclays Bank Group applies IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. Non-current assets
(or disposal groups) are classified as held for sale when their carrying amount is to be recovered principally through a sale
transaction rather than continuing use. In order to be classified as held for sale, the asset must be available for immediate
sale in its present condition subject only to terms that are usual and customary, and the sale must be highly probable. Non-
current assets (or disposal groups) held for sale are measured at the lower of carrying amount and fair value less cost to sell.
Assets and liabilities classified as held for sale are presented separately in the consolidated balance sheet.\u00a0
Management judgement is required in determining whether the IFRS 5 held for sale classification criteria are met, in
particular whether the sale is highly probable and expected to qualify for recognition as a completed sale within 12 months
of classification. This assessment requires consideration of how committed management is to the sales plan, the likelihood
of obtaining regulatory or other external approvals which is often required for sales of banking operations and how
committed the buyer is to complete the sales transaction within the agreed timelines.
The perimeter of the disposal group has been accounted for in line with the requirements of IFRS 5 as at 31 December 2025.
A detailed analysis of the disposal group is presented below.
The 2025 disposal group includes a US Cards portfolio within USCB. Barclays has decided not to compete to become the
sole issuer for a co\u2011branded card portfolio leading to its transfer in H1 2026. The portfolio is expected to be sold at a
premium. The extension to the 1 year sale period is aligned to the signed contractual arrangements in place to allow the
transition of the portfolio in a controlled and effective manner. The 2024 disposal group includes the US Cards portfolio and
the German Consumer Finance Business within Head Office.
The fair value level of the financial instruments included in held for sale along with corresponding fair value hierarchy under
IFRS13 is disclosed on page 348.
Barclays Bank Group
2025
2024
Assets included in disposal groups classified as held for sale
\u00a3m
\u00a3m
As at 31 December
Loans and advances to customers
5,801
9,544
Intangible assets
11
25
Property, plant and equipment
\u2014
24
Other assets
120
261
Total assets classified as held for sale
5,932
9,854
Liabilities included in disposal groups classified as held for sale
As at 31 December
Deposits from customers
\u2014
3,647
Other liabilities
\u2014
77
Provisions
\u2014
2
Total liabilities classified as held for sale
\u2014
3,726
Net assets classified as held for sale
5,932
6,128
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-622": { "value": "
Accounting for non-current assets held for sale and associated liabilities
The Barclays Bank Group applies IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. Non-current assets
(or disposal groups) are classified as held for sale when their carrying amount is to be recovered principally through a sale
transaction rather than continuing use. In order to be classified as held for sale, the asset must be available for immediate
sale in its present condition subject only to terms that are usual and customary, and the sale must be highly probable. Non-
current assets (or disposal groups) held for sale are measured at the lower of carrying amount and fair value less cost to sell.
Assets and liabilities classified as held for sale are presented separately in the consolidated balance sheet.\u00a0
Management judgement is required in determining whether the IFRS 5 held for sale classification criteria are met, in
particular whether the sale is highly probable and expected to qualify for recognition as a completed sale within 12 months
of classification. This assessment requires consideration of how committed management is to the sales plan, the likelihood
of obtaining regulatory or other external approvals which is often required for sales of banking operations and how
committed the buyer is to complete the sales transaction within the agreed timelines.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:G5GSEF7VJP5I7OUK5573", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }