Barclays 2011 Annual Report Download - page 2

Barclays PLC Annual Report 2011 www.barclays.com/annualreport
The term ‘Barclays PLC Group’ or the ‘Group’ means Barclays PLC together with its subsidiaries
and the term ‘Barclays Bank PLC Group’ means Barclays Bank PLC together with its subsidiaries.
‘Barclays’ and ‘Group’ are terms which are used to refer to either of the preceding groups when
the subject matter is identical. The term ‘Company’, ‘Parent Company’ or ‘Parent’ refers to Barclays
PLC and the term ‘Bank’ refers to Barclays Bank PLC. In this report, the abbreviations ‘£m’ and
‘£bn’ represent millions and thousands of millions of pounds sterling respectively; the
abbreviations ‘US$m’ and ‘US$bn’ represent millions and thousands of millions of US Dollars
respectively and ‘€m’ and ‘€bn’ represent millions and thousands of millions of euros respectively.
Unless otherwise stated, the income statement analyses compare the 12 months to 31 December
2011 to the corresponding 12 months of 2010 and balance sheet comparisons, relate to the
corresponding position at 31 December 2010. Unless otherwise stated, all disclosed figures relate
to continuing operations. Relevant terms that are used in this document but are not defined under
applicable regulatory guidance or International Financial Reporting Standards (IFRS) are explained
in the glossary online at www.barclays.com/annualreport. A hard copy can be provided on request
by contacting Barclays Investor Relations, Barclays PLC, 1 Churchill Place, London E14 5HP.
Adjusted profit before tax and adjusted performance measures have been presented to provide
a more consistent basis for comparing business performance between periods. Adjusted profit
before tax is explained further on page 22 and defined in the glossary.
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, Eurozone 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 (including requirements regarding capital and Group
structures and the potential for one or more countries exiting the Euro), changes in legislation,
the further development of standards and interpretations under IFRS applicable to past, current
and future periods, evolving practices with regard to the interpretation and application of
standards under IFRS, the outcome of current and future litigation, the success of future
acquisitions and other strategic transactions and the impact of competition – a number of
such factors being 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 are as at the date they are made. Except as required
by the UK Financial Services Authority (FSA), the London Stock Exchange plc (LSE) or applicable
law, Barclays expressly disclaims any obligation or undertaking to release publicly updates or
revisions to forward-looking statements 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 LSE and/or the SEC.
The Annual Report includes certain information required to be included in the joint Barclays PLC
and Barclays Bank PLC Annual Report on Form 20-F for 2011. Form 20-F will contain as exhibits
certificates pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, signed by the
Chief Executive and the Group Finance Director.
Our leadership team discusses the
year and the future for Barclays
More detail, including videos, can be found online at
www.barclays.com/annualreport
What our strategy is and how we
manage our business to achieve this
It is important that we run our business with a clear
strategy that takes in to account market conditions
How we measure success within
Barclays and reward performance
The evidence our strategy is being successfully implemented
Detailed information
Full disclosure and discussion in depth
www.barclays.com/annualreport
Cover image
As part of our Citizenship agenda, we focus on empowering young people
with the necessary financial, entrepreneurial and life skills to achieve economic
independence and security.
Barclays supports Cycle into Work, an initiative developed and delivered by
our social enterprise partner Bikeworks, which helps disadvantaged Londoners
to learn key skills and find employment in the cycling industry.
The community investment programme supports Bikeworks to work in
partnership with homeless hostels and shelters in London to reach vulnerable
young people, offering them bicycle building and maintenance courses.
Employees also volunteer as mentors to help participants improve their
confidence, communication skills and job prospects, as well as provide them
with opportunities for team work and social interaction.
Trainees access on-the-job training and professional qualifications in bike
mechanics alongside tailored personal development support. Graduates
of the programme are then supported to access employment opportunities
with Barclays Cycle Hire and cycling retailers in London.
www.bikeworks.org.uk