UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
August, 2006
Barclays PLC and
Barclays Bank PLC
(Names of Registrants)
1 Churchill Place
London E14 5HP
England
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No x
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
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This Report is a joint Report on Form 6-K filed by Barclays PLC and Barclays
Bank PLC. All of the issued ordinary share capital of Barclays Bank PLC is
owned by Barclays PLC.
This Report comprises:
Information given to The London Stock Exchange and furnished pursuant to
General Instruction B to the General Instructions to Form 6-K.
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EXHIBIT INDEX
Interim Results dated 3 August, 2006
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each of
the registrants has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BARCLAYS PLC
(Registrant)
Date: August 03, 2006 By: /s/ Patrick Gonsalves
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Patrick Gonsalves
Deputy Secretary
BARCLAYS BANK PLC
(Registrant)
Date: August 03, 2006 By: /s/ Patrick Gonsalves
----------------------
Patrick Gonsalves
Joint Secretary
Barclays Bank PLC
Results
Announcement
30th June 2006
Barclays Bank PLC
3rd August 2006
BARCLAYS BANK PLC
BARCLAYS BANK PLC IS A WHOLLY OWNED SUBSIDIARY OF BARCLAYS PLC
The Directors report the following results of the Barclays Bank PLC Group for
the half-year ended 30th June 2006:
CONSOLIDATED INCOME STATEMENT (UNAUDITED)
Half year ended
30.06.06 31.12.05 30.06.05
GBPm GBPm GBPm
Continuing operations
------- -------- --------
Interest income 10,544 9,584 7,648
Interest expense (6,140) (5,209) (3,948)
------- -------- --------
Net interest income 4,404 4,375 3,700
------- -------- --------
Fee and commission income 4,077 3,558 2,872
Fee and commission expense (425) (393) (332)
------- -------- --------
Net fee and commission income 3,652 3,165 2,540
------- -------- --------
Net trading income 2,203 1,145 1,176
Net investment income 374 485 373
------- -------- --------
Principal transactions 2,577 1,630 1,549
Net premiums from insurance contracts 510 501 371
Other income 86 129 49
------- -------- --------
Total income 11,229 9,800 8,209
Net claims and benefits paid on
insurance contracts (233) (358) (287)
------- -------- --------
Total income net of insurance claims 10,996 9,442 7,922
Impairment charges (1,057) (865) (706)
------- -------- --------
Net income 9,939 8,577 7,216
------- -------- --------
Operating expenses excluding
amortisation of intangible assets (6,206) (5,923) (4,525)
Amortisation of intangible assets (63) (62) (17)
------- -------- --------
Operating expenses (6,269) (5,985) (4,542)
Share of post-tax results of
associates 30 29 16
and joint ventures ------- -------- --------
Profit before tax 3,700 2,621 2,690
Tax (1,072) (724) (715)
------- -------- --------
Profit for the period 2,628 1,897 1,975
------- -------- --------
Profit attributable to minority interests 155 148 29
Profit attributable to equity holders 2,473 1,749 1,946
------- -------- --------
2,628 1,897 1,975
------- -------- --------
The information in this announcement, which was approved by the Board of
Directors on 2nd August 2006, does not comprise statutory accounts within the
meaning of Section 240 of the Companies Act 1985 (the 'Act').
CONSOLIDATED BALANCE SHEET (UNAUDITED)
As at
30.06.06 31.12.05 30.06.05
GBPm GBPm GBPm
Assets
Cash and balances at central banks 6,777 3,506 4,106
Items in the course of collection from
other banks 2,600 1,901 2,208
Trading portfolio assets 181,871 155,730 134,245
Financial assets designated at fair value:
- held on own account 18,833 12,904 9,747
- held in respect of linked liabilities
to customers under investment contracts 79,334 83,193 69,792
Derivative financial instruments 136,901 136,823 133,932
Loans and advances to banks 35,330 31,105 35,225
Loans and advances to customers 282,097 268,896 237,123
Available for sale financial investments 53,953 53,703 61,398
Reverse repurchase agreements and cash
collateral on securities borrowed 171,869 160,398 149,400
Other assets 5,866 4,734 3,598
Investments in associates and joint ventures 560 546 438
Goodwill 5,968 6,022 4,590
Intangible assets 1,125 1,269 120
Property, plant and equipment 2,515 2,754 2,407
Deferred tax assets 776 686 2,059
-------- -------- --------
Total assets 986,375 924,170 850,388
-------- -------- --------
CONSOLIDATED BALANCE SHEET (UNAUDITED)
As at
30.06.06 31.12.05 30.06.05
GBPm GBPm GBPm
Liabilities
Deposits from banks 86,221 75,127 84,538
Items in the course of collection due
to other banks 2,700 2,341 2,809
Customer accounts 253,200 238,684 217,715
Trading portfolio liabilities 74,719 71,564 65,598
Financial liabilities designated at
fair value:
- held on own account 43,594 33,385 8,231
Liabilities to customers under
investment contracts 81,380 85,201 71,608
Derivative financial instruments 138,982 137,971 132,784
Debt securities in issue 102,198 103,328 93,328
Repurchase agreements and cash
collateral on securities lent 146,165 121,178 122,076
Other liabilities 10,767 11,131 9,649
Current tax liabilities 592 747 786
Insurance contract liabilities,
including unit-linked liabilities 3,558 3,767 3,589
Subordinated liabilities:
- Undated loan capital - non convertible 4,743 4,397 4,366
- Dated loan capital - convertible 38 38 13
- Dated loan capital - non convertible 8,848 8,028 6,930
Deferred tax liabilities 430 700 1,891
Other provisions for liabilities 474 517 386
Retirement benefit liabilities 1,976 1,823 2,041
-------- -------- --------
Total liabilities 960,585 899,927 828,338
-------- -------- --------
Shareholders' equity
Called up share capital 2,357 2,348 2,341
Share premium account 9,354 8,882 8,786
Available for sale reserve 32 257 400
Cash flow hedging reserve (172) 70 328
Other shareholders' funds 2,570 2,490 2,551
Translation reserve (176) 156 (35)
Retained earnings 10,217 8,462 7,479
-------- -------- --------
Shareholders' equity excluding minority
interests 24,182 22,665 21,850
Minority interests 1,608 1,578 200
-------- -------- --------
Total shareholders' equity 25,790 24,243 22,050
-------- -------- --------
-------- -------- --------
Total liabilities and shareholders'
equity 986,375 924,170 850,388
-------- -------- --------
CONSOLIDATED STATEMENT OF RECOGNISED INCOME AND EXPENSE (UNAUDITED)
Half-year ended
30.06.06 31.12.05 30.06.05
GBPm GBPm GBPm
Net movements in available for sale
reserve (322) (189) 112
Net movements in cash flow hedging
reserve (419) (147) 28
Currency translation differences
arising during the year (595) 277 23
Tax 267 168 (118)
Other movements 30 (112) 10
-------- -------- --------
Amounts included directly in equity (1,039) (3) 55
Profit for the period 2,628 1,897 1,975
-------- -------- --------
Total recognised income and expense
for the year 1,589 1,894 2,030
-------- -------- --------
Attributable to:
Equity holders 1,718 1,655 2,004
Minority interests (129) 239 26
-------- -------- --------
1,589 1,894 2,030
-------- -------- --------
The consolidated statement of recognised income and expense reflects all items
of income and expense for the period, including items taken directly to equity
in accordance with IFRS. Movements in individual reserves include amounts which
relate to minority interests; the impact of such amounts is then reflected in
the amount attributable to such interests. Income and expense recognised
directly in equity is recorded on a gross basis with any related tax recorded on
the separate tax line.
The available for sale reserve reflects gains or losses arising from the change
in fair value of available for sale financial assets except for impairment
losses and foreign exchange gains or losses on monetary items such as debt
securities, which are recognised in the income statement. When an available for
sale asset is impaired or derecognised, the cumulative gain or loss previously
recognised in the available for sale reserve is transferred to income. The
movement in the first half of 2006 reflects net unrealised losses from changes
in fair value and the transfer of net realised gains to the income statement on
disposal of assets.
Cash flow hedging aims to minimise exposure to variability in cash flows that is
attributable to a particular risk associated with a recognised asset or
liability or a highly probable forecast transaction that could affect profit or
loss. The portion of the gain or loss on the hedging instrument that is deemed
to be an effective hedge is recognised in the cash flow hedging reserve. The
movement in the first half of 2006 primarily reflects net unrealised losses from
changes in the fair value of the hedging instruments. The gains and losses
deferred in this reserve will be transferred to the income statement in the same
period or periods during which the hedged item is recognised in the income
statement.
Exchange differences arising on the net investments in foreign operations and
effective hedges of net investments are recognised in the translation reserve
and transferred to income on the disposal of the net investment. The movement in
the period primarily reflects the impact of changes in the value of the Rand on
the minority interest in Absa Group Limited and changes in the value of the US
Dollar on net investments which are economically hedged through
dollar-denominated preference share capital, but where the hedging item is not
revalued for accounting purposes.
Other movements primarily reflect the change in insurance liabilities taken
directly to reserves.
CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED)
Half-year ended
30.06.06 31.12.05 30.06.05
GBPm GBPm GBPm
Net cash inflow/(outflow) from
operating activities 8,353 (28,104) 17,636
Net cash (outflow)/inflow from
investing activities (1,159) 6,193 (11,514)
Net cash inflow from financing
activities 2,164 12,235 2,594
-------- -------- --------
Effect of exchange rate changes on
cash and cash equivalents (386) 301 (539)
-------- -------- --------
Net increase/(decrease)in cash and
cash equivalents 8,972 (9,375) 8,177
Cash and cash equivalents at beginning
of period 20,405 29,780 21,603
-------- -------- --------
Cash and cash equivalents at end of
period 29,377 20,405 29,780
-------- -------- --------
NOTES
1. Authorised share capital
Ordinary shares
The authorised ordinary share capital of Barclays Bank PLC at 30th June 2006 was
3,000 million (31st December 2005: 3,000 million) ordinary shares of GBP1 each.
Preference shares 30.06.06 31.12.05 30.06.05
'000 '000 '000
Authorised share capital - shares of GBP1 each 1 1 1
Authorised share capital - shares of GBP100 each 400 400 400
Authorised share capital - shares of US$0.25
each 80,000 80,000 80,000
Authorised share capital - shares of US$100 each 400 400 400
Authorised share capital - shares of EUR100 each 400 400 400
2. Issued share capital
Ordinary shares
The issued ordinary share capital of Barclays Bank PLC at 30th June 2006
comprised 2,323 million (31st December 2005: 2,318 million) ordinary shares of
GBP1 each.
The whole of the issued ordinary share capital of Barclays Bank PLC at 30th June
2006 is beneficially owned by Barclays PLC.
Preference shares
The issued preference share capital of Barclays Bank PLC at 30th June 2006
comprised GBP34m (31st December 2005: GBP30m) of preference shares of the
following denominations:
30.06.06 31.12.05 30.06.05
'000 '000 '000
Issued and fully paid shares of GBP1 each 1 1 1
Issued and fully paid shares of GBP100 each 75 75 75
Issued and fully paid shares of US$100 each 100 100 100
Issued and fully paid shares of EUR100 each 240 240 240
Issued and fully paid shares of US$0.25 each 30,000 - -
3. Staff numbers
On a full time equivalent basis the total permanent and contract staff at 30th
June 2006 was 118,300 (31st December 2005: 113,300). Additionally, agency staff
totalled 8,700 (31st December 2005: 7,000).