Barclays 2008 Annual Report Download - page 2

Contents
Business review 3
Barclays today 4
Key performance indicators 6
Group Chairman’s statement 10
Group Chief Executive’s review 12
Financial review 15
Corporate sustainability 66
Our people 68
Risk management 69
Governance 151
Board and Executive Committee 152
Directors’ report 154
Corporate governance report 157
Remuneration report 171
Accountability and audit 187
Financial statements 189
Presentation of information 190
Independent Auditors’ report/IndependentRegistered
Public Accounting Firm’s report 191
Consolidated accounts Barclays PLC 193
Barclays Bank PLC data 299
Shareholder information 315
Forward-looking statements
This document contains certain forward-looking statements
within the meaning of Section 21E of the US Securities Exchange
Act of 1934, as amended, and Section 27A of the US Securities
Act of 1933, as amended, with respect to certain of the Group’s
plans and its current goals and expectations relating to its future
financial condition and performance. Barclays cautions readers
that no forward-looking statement is a guarantee of future
performance and that actual results could differ materially from
those contained in the forward-looking statements. These
forward-looking statements can be identified by the fact that
they do not relate only to historical or current facts. Forward-
looking statements sometimes use words such as ‘may’, ‘will’,
‘seek’, ‘continue’, ‘aim’, ‘anticipate’, ‘target’, ‘expect’, ‘estimate’,
‘intend’, ‘plan’, ‘goal’, ‘believe’ or other words of similar meaning.
Examples of forward-looking statements include, among others,
statements regarding the Group’s future financial position,
income growth, assets, impairment charges, business strategy,
capital ratios, leverage, payment of dividends, projected levels
of growth in the banking and financial markets, projected costs,
estimates of capital expenditures, and plans and objectives for
future operations and other statements that are not historical
fact. By their nature, forward-looking statements involve risk
and uncertainty because they relate to future events and
circumstances, including, but not limited to, UK domestic
and global economic and business conditions, the effects
of continued volatility in credit markets, market related risks
such as changes in interest rates and exchange rates, effects
of changes in valuation of credit market exposures, changes
in valuation of issued notes, the policies and actions of
governmental and regulatory authorities, changes in legislation,
the further development of standards and interpretations under
International Financial Reporting Standards (IFRS) applicable to
past, current and future periods, evolving practices with regard
to the interpretation and application of standards under IFRS,
progress in the integration of the Lehman Brothers North
American businesses into the Group’s business and the
quantification of the benefits resulting from such acquisition,
the outcome of pending and future litigation, the success of
future acquisitions and other strategic transactions and the
impact of competition – a number of which factors are beyond
the Group’s control. As a result, the Group’s actual future results
may differ materially from the plans, goals, and expectations set
forth in the Group’s forward-looking statements.
Any forward-looking statements made herein speak
only as of the date they are made. Except as required by the UK
Financial Services Authority (FSA), the London Stock Exchange
or applicable law, Barclays expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained in this announcement to
reflect any change in Barclays expectations with regard thereto
or any change in events, conditions or circumstances on which
any such statement is based. The reader should, however,
consult any additional disclosures that Barclays has made or
may make in documents it has filed or may file with the
Securities Exchange Commission (SEC).
Our strategy is to achieve good growth through time by
diversifying our business base and increasing our presence
in markets and segments that are growing rapidly.
Consistent strategic priorities:
–Build the best bank in the UK
–Accelerate growth of global businesses
–Develop Retail and Commercial Banking activities
in selected countries outside the UK
–Enhance operational excellence
Delivering our strategy