Barclays 2004 Annual Report Download - page 115

Barclays PLC Annual Report 2004
113
Total Assets and Liabilities
Total Assets and Weighted Risk Assets
The Group’s balance sheet increased 18% (£78.8bn) to £522.1bn
(2003: £443.3bn). Weighted risk assets increased 16% (£29.6bn)
to £218.6bn (2003: £189bn).
UK Banking total assets increased 8% to £122.4bn (2003: £113.7bn).
Weighted risk assets increased 9% to £91.9bn (2003: £84.5bn).
UK Retail Banking total assets increased 3% to £71.6bn (2003: £69.7bn)
and weighted risk assets increased 4% to £37.1bn (2003: £35.8bn).
This was mainly attributable to growth in the UK residential mortgage
portfolio, up 3% to £61.7bn (2003: £59.8bn).
UK Business Banking total assets increased 15% to £50.8bn
(2003: £44bn) and weighted risk assets increased 13% to £54.8bn
(2003: £48.6bn). This reflected strong growth in lending balances.
Private Clients and International total assets (excluding the assets
of the closed life assurance activities) increased 14% to £31bn
(2003: £27.2bn), and weighted risk assets increased 28% to £23.3bn
(2003: £18.2bn). This was mainly attributable to growth in customer
loans in Spain, Italy and Africa.
Barclaycard total assets increased 14% to £23.4bn (2003: £20.6bn)
reflecting growth in the credit card and consumer lending business
and the acquisition of Juniper. Weighted risk assets increased 10%
to £20.2bn (2003: £18.3bn).
Barclays Capital total assets increased 24% to £332.6bn
(2003: £268.7bn) due to increases in debt securities and fully
collateralised reverse repos as the expansion of the business
continued. Total weighted risk assets increased 23% to £79.9bn
(2003: £65.1bn), reflecting increased business volumes and the
expansion of credit trading, credit derivatives and residential and
commercial mortgage backed securities to meet client demands.
2002 2003 2004£bn
403
443
522
0Weighted risk assets
Assets
450
400
350
300
250
200
150
100
50
550
500
Capital Resources
The Group manages both its debt and equity capital actively. The
Group’s authority to buy-back equity was renewed at the 2004 AGM
to provide additional flexibility in the management of the Group’s
capital resources.
2004 2003 2002
£m £m £m
Barclays PLC Group
Shareholders’ funds 17,417 16,374 15,146
Minority interests: non-equity 690 ––
Minority interests: equity 211 283 156
18,318 16,657 15,302
Undated loan capital 6,149 6,310 6,678
Dated loan capital 6,128 6,029 4,859
Total capital resources 30,595 28,996 26,839
Total capital resources increased in the year by £1,599m.
Shareholders’ funds increased by £1,043m, reflecting profit retentions
of £1,730m, net proceeds of share issues of £114m and gains arising
from transactions with third parties which are reflected in the
statement of recognised gains and losses of £13m; offset by share
repurchases of £699m, an increase in treasury and ESOP shares of
£53m, exchange rate losses of £58m.
Non-equity minority interests reflected the issue by Barclays Bank PLC
of ¤1bn (£688m) of non-cumulative preference shares on 8th December
2004 and an additional £2m of profits attributable to these non-equity
minority interests at the year-end.
Loan capital decreased by £62m reflecting raisings of £774m, more
than offset by redemptions of £611m, exchange rate movements of
£224m and amortisation of issue expenses of £1m.
2004 2003 2002
£m £m £m
Barclays Bank PLC Group
Shareholders’ funds: equity 17,581 16,485 15,205
Shareholders’ funds:
non-equity 690 ––
Minority interests: equity 211 283 156
18,482 16,768 15,361
Undated loan capital 6,149 6,310 6,678
Dated loan capital 6,128 6,029 4,859
Total capital resources 30,759 29,107 26,898
Capital resources for Barclays Bank PLC Group differ from Barclays PLC
Group by £164m (2003: £111m).
Financial review
Total assets and liabilities and capital resources