Barclays 2005 Annual Report Download - page 181

Barclays PLC
Annual Report 2005 179
3.5
26 Investment in associates and joint ventures (continued)
The table below provides summarised financial information of associates and joint ventures, in which the Group has an interest (the entities’ entire
financial position and results of operations are presented, not Barclays share).
2005 2004
FirstCaribbean Other Joint FirstCaribbean Other Joint
International Bank associates ventures International Bank associates ventures
£m £m £m £m £m £m
Property, plant and equipment 86 454 119 80 427 113
Financial investments 376 66 24 n/a n/a n/a
Trading portfolio assets 389––n/a n/a n/a
Debt and equity securities n/a n/a n/a 575 114 –
Loans to banks and customers 4,379 1,575 393 3,624 54 217
Other assets 267 226 16 223 160 36
Total assets 5,497 2,321 552 4,502 755 366
Deposits from banks and customers 4,519 1,527 369 3,831 239 2
Trading portfolio liabilities 115––n/a n/a n/a
Other liabilities 270 572 188 33 237 320
Shareholders’ equity 593 222 (5) 638 279 44
Total liabilities 5,497 2,321 552 4,502 755 366
Net income 234 213 176 275 178 136
Operating expenses (148) (161) (213) (151) (144) (136)
Profit/(loss) before tax 86 52 (37) 124 34 –
Profit/(loss) after tax 76 37 (26) 114 22 –
The amounts included above are based on accounts made up to 31st December 2005 with the exception of FirstCaribbean International Bank and
certain undertakings included within the Other associates category for which the amounts are based on accounts made up to dates not earlier than
three months before the balance sheet date.
The ability of FirstCaribbean International Bank to transfer funds to the Group is restricted by the Exchange Control Act Laws of Barbados which
provides that except with the permission of the Exchange Control Authority, no person shall make any payment to, or for the credit of a person
resident outside Barbados.
Other associates in 2005 includes £1,885m of assets, £1,741m of liabilities and £20m of profit after tax in associates within the Absa Group.
In addition to the above, the Group’s share of commitments and contingencies incurred in relation to its joint ventures is £1m (2004: £nil).
The Group’s share of contingent liabilities of an associate or joint venture for which it is contingently liable is £252m (2004: £190m).
In 2004 the results of FirstCaribbean International Bank included a gain of £65m on the sale of shares held in Republic Bank Limited.