Barclays 2013 Annual Report Download - page 267

For more information on Wealth and
Investment Management business
model and strategy please see
pages 42 to 45
Adjusted Statutory
2013 2012 2011a2013 2012 2011
Performance Measures
Return on average tangible equity (1.4%) 15.5% 13.0% (5.9%) 15.5% 13.0%
Return on average equity (1.0%) 11.2% 9.5% (4.5%) 11.2% 9.5%
Return on average risk weighted assets (0.1%) 1.7% 1.4% (0.5%) 1.7% 1.4%
Cost: income ratio 95.0% 83% 87% 99.0% 83% 87%
Loan loss rate (bps) 51 17 21 51 17 21
Other financial measures
Client assets £204.8bn £186.0bn £164.2bn
Number of employees (full time equivalents) 8,300 8,300 8,500
Client assets increased 10% to £204.8bn driven by growth in the High
Net Worth business and favourable equity market movements.
2012
Income improved 3% to £1,820m primarily driven by an increase in the
High Net Worth business.
Net interest income grew 4% to £856m reflecting growth in deposit
and lending balances in the High Net Worth business. Net interest
margin decreased 10bps to 123bps due to the ongoing low interest
rate environment and reduced contribution from structural hedges.
Net fees and commissions income remained broadly in line at £948m
(2011: £944m) despite challenging market conditions.
Operating expenses decreased 2% to £1,509m as cost control
initiatives were partially offset by the continued cost of the strategic
investment programme.
Profit before tax increased 46% to £274m.
Customer deposits increased 16% to £53.8bn and loans and advances
to customers increased 13% to £21.3bn.
CRD III RWAs increased 23% to £16.1bn principally due to growth in
lending and an increased operational risk charge.
Client assets increased 13% to £186.0bn (2011: £164.2bn) principally
reflecting an increase in net new assets in the High Net Worth business.
Note
a Adjusted performance measures exclude the impact of goodwill impairment of £79m (2012: £nil; 2011: £nil).
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