v3.25.4
Risk Management
 12 Months Ended
Dec. 31, 2025
Disclosure of credit risk exposure [abstract]  
Risk Management
Credit risk management (audited)
The risk of loss to the Barclays Bank Group from the failure of clients, customers or counterparties, including sovereigns, to
fully honour their obligations to the Barclays Bank Group, including the whole and timely payment of principal, interest,
collateral and other receivables.
Overview
The credit risk that the Barclays Bank Group faces arises from wholesale and retail loans and advances together with the
counterparty credit risk arising from derivative contracts with clients' trading activities, including: debt securities, settlement
balances with market counterparties, FVOCI (fair value through other comprehensive income) assets and reverse repurchase
loans.
Credit risk management objectives are to:
▪maintain a framework of controls to oversee credit risk
▪identify, assess and measure credit risk clearly and accurately across the Barclays Bank Group and within each separate
business, from the level of individual facilities up to the total portfolio
▪control and plan credit risk taking in line with external stakeholder expectations, including risk return objectives, and
avoiding undesirable concentrations
▪monitor credit risk and adherence to agreed controls.
Organisation, roles and responsibilities
The first line of defence has primary responsibility for managing credit risk within the risk appetite and limits set by the Risk
function, supported by a defined set of policies, standards and controls. In the Barclays Bank Group, business risk
committees (attended by the first line) monitor and review the credit risk profile of each business unit where the most
material issues are escalated to the Retail Credit Risk Management Committee, Wholesale Credit Risk Management
Committee and the Barclays Group Risk Committee.
Wholesale and retail portfolios are managed separately to reflect the differing nature of the assets; wholesale balances tend
to be larger and are managed on an individual basis, while retail balances are greater in number but lesser in value and are,
therefore, managed in aggregated segments.
The responsibilities of the credit risk management teams in the businesses, the sanctioning team and other shared services
include: sanctioning new credit agreements (principally wholesale); setting strategies for approval of transactions
(principally retail); setting risk appetite; monitoring risk against limits and other parameters; setting recession readiness
frameworks to protect portfolios in the event of economic stress, maintaining robust processes, data gathering, quality,
storage and reporting methods for effective credit risk management; performing effective turnaround and workout
scenarios for wholesale portfolios via dedicated restructuring and recoveries teams; maintaining robust collections and
recovery processes/units for retail portfolios. The credit risk management teams in the Barclays Bank Group are accountable
to the Barclays Bank Group CRO, who reports to the Barclays Group CRO.
For wholesale portfolios, credit risk managers are organised in sanctioning teams by geography, industry and/or product. In
wholesale portfolios, credit risk approval is undertaken by experienced credit risk professionals operating within a clearly
defined delegated authority framework, with only the most senior credit officers assigned the higher levels of delegated
authority. The largest credit exposures, which are outside the Risk Sanctioning Unit or Risk Distribution Committee authority,
require the support of the Senior Credit Officers. For exposures in excess of the Senior Credit Officers’ authority, approval by
the Barclays Group Senior Credit Officer/Barclays PLC Board Risk Committee is also required. The Barclays Group Credit Risk
Committee, attended by the Senior Credit Officers, provides a formal mechanism for the Barclays Group Senior Credit Officer
to exercise the highest level of credit authority over the most material Barclays Group single name exposures.
Credit risk mitigation
The Barclays Bank Group employs a range of techniques and strategies to actively mitigate credit risks. These can broadly be
divided into three types:
▪netting and set-off
▪collateral
▪risk transfer.
Netting and set-off
Credit risk exposures can be reduced by applying netting and set-off. For derivative transactions, the Barclays Bank Group’s
normal practice is to enter into standard master agreements with counterparties (e.g. ISDAs). These master agreements
typically allow for netting of credit risk exposure to a counterparty resulting from derivative transactions against the
obligations to the counterparty in the event of default, and so produce a lower net credit exposure. These agreements may
also reduce settlement exposure (e.g. for foreign exchange transactions) by allowing payments on the same day in the same
currency to be set-off against one another.
Collateral
The Barclays Bank Group has the ability to call on collateral in the event of default of the counterparty, comprising:
▪home loans: a fixed charge over residential property in the form of houses, flats and other dwellings.
▪wholesale lending: a fixed charge over commercial property and other physical assets, in various forms.
▪other retail lending: includes charges over other physical assets; second lien charges over residential property and finance
lease receivables.
▪derivatives: the Barclays Bank Group also often seeks to enter into a margin agreement (e.g. Credit Support Annex) with
counterparties with which the Barclays Bank Group has master netting agreements in place. These annexes to master
agreements provide a mechanism for further reducing credit risk, whereby collateral (margin) is posted on a regular basis
(typically daily) to collateralise the mark to market exposure of a derivative portfolio measured on a net basis.
▪reverse repurchase agreements: collateral typically comprises highly liquid securities which have been legally transferred
to the Barclays Bank Group subject to an agreement to return them for a fixed price.
▪financial guarantees and similar off-balance sheet commitments: cash collateral may be held against these
arrangements.
Risk transfer
A range of instruments including guarantees, credit insurance, credit derivatives and securitisation can be used to transfer
credit risk from one counterparty to another. These mitigate credit risk in three main ways:
▪if the risk is transferred to a counterparty which is more creditworthy than the original counterparty, then overall credit risk
is reduced.
▪where recourse to the first counterparty remains, both counterparties must default before a loss materialises. This is less
likely than the default of either counterparty individually, so credit risk is reduced.
▪first loss exposures across pools of credit risk can be hedged via synthetic securitisation structures, typically via CLN
issuance. As these are fully funded upfront, they provide for a direct reduction in credit risk exposure on referenced pools.
In addition, referenced pools of assets can be securitised with specific tranches of risk sold to investors to provide direct
reduction in credit risk exposures.
Market risk management (audited)
The risk of loss arising from potential adverse changes in the value of the Barclays Bank Group’s assets and liabilities from
fluctuation in market variables including, but not limited to, interest rates, foreign exchange, equity prices, commodity
prices, credit spreads, implied volatilities and asset correlations.
Overview
Market risk arises primarily as a result of client facilitation in wholesale markets, involving market making activities, risk
management solutions and execution of syndications. Upon execution of a trade with a client, the Barclays Bank Group will
look to hedge against the risk of the trade moving in an adverse direction. Mismatches between client transactions and
hedges result in market risk due to changes in asset prices, volatility or correlations.
Organisation, roles and responsibilities
Market risk in the businesses resides primarily in IB and Treasury. These businesses have the mandate to assume market
risk. The front office and Treasury trading desks are responsible for managing market risk on a day-to-day basis, where they
are required to understand and adhere to all limits applicable to their businesses. The Market Risk team supports the trading
desks with the day-to-day limit management of market risk exposures through governance processes which are outlined in
supporting market risk policies and standards.
Market risk oversight and challenge is provided by business committees and Barclays Group committees, including the
Market Risk Committee (MRC).
The objectives of market risk management are to:
▪identify, understand and control market risk by robust measurement, limit setting, reporting and oversight
▪facilitate business growth within a controlled and transparent risk management framework
▪control market risk in the businesses according to the allocated appetite.
To meet the above objectives, a governance structure is in place to manage these risks consistent with the ERMF.
The Barclays Bank PLC Board Risk Committee recommends market risk appetite to the Barclays Bank PLC Board for their
approval, within the parameters set by the Barclays PLC Board.
The Market Risk Committee (MRC) reviews and makes recommendations concerning the Barclays Group-wide market risk
profile. This includes overseeing the operation of the Market Risk Framework and associated policies and standards,
monitoring market and regulatory changes, and reviewing limit utilisation levels. The committee is chaired by the Market
Risk Principal Risk Lead and attendees include the business heads of market risk and business aligned market risk managers.
In addition to MRC, the Investment Bank Risk Committee (IBRC) is the main forum in which market risk exposures are
discussed and reviewed with senior business heads. The Committee is chaired by the BBPLC CRO and meets weekly,
covering current market events, notable market risk exposures, and key risk topics. New business initiatives are generally
socialised at IBRC before any changes to risk appetite or associated limits are considered in other governance committees.
Management value at risk (VaR)
VaR is an estimate of the potential loss arising from unfavourable market movements if the current positions were to be held
unchanged for one business day. For internal market risk management purposes, a historical simulation methodology with a
one-year equally weighted historical period, at the 95% confidence level is used for all trading books and some banking
books.
Limits are applied at the total level as well as by risk factor type, which are then cascaded down to particular trading desks
and businesses by the market risk management function.
See pages 131 to 132 for a review of management VaR.
Treasury and capital risk management
This comprises:
Liquidity risk: The risk that the Barclays Bank Group is unable to meet its contractual or contingent obligations or that it
does not have the appropriate amount, tenor and composition of funding and liquidity to support its assets.
Capital risk: The risk that the Barclays Bank Group has an insufficient level or composition of capital to support its normal
business activities and to meet its regulatory capital requirements under normal operating environments and stressed
conditions (both actual and as defined for internal planning or regulatory testing purposes). This also includes the risk from
the Barclays Bank Group’s pension plans.
Interest rate risk in the banking book: The risk that the Barclays Bank Group is exposed to capital or income volatility
because of a mismatch between the interest rate exposures of its (non-traded) assets and liabilities. This also includes
credit spread risk in the banking book, the risk that the Barclays Bank Group is exposed to capital or income volatility
because of changes in credit spreads on its (non-traded) assets and liabilities
The Barclays Bank PLC Treasury function manages treasury and capital risk exposure on a day-to-day basis, with the
Barclays Bank PLC Treasury Committee together with the Barclays Group Treasury Committee acting as the principal
management bodies for the Barclays Bank Group. The Treasury and Capital Risk function is responsible for oversight and
provides insight into key capital, liquidity, interest rate risk in the banking book (IRRBB) and pension risk management
activities. The assessment and management of the Barclays Bank Group's capital and liquidity position and IRRBB and
pension risk requires the use of judgement, assumptions and estimates. Please see the description of material existing and
emerging risks beginning on page 50 of this Annual Report for further details on such judgements, assumptions and
estimates, including the potential risks involved.
Liquidity risk management (audited)
Overview
The efficient management of liquidity is essential to the Barclays Bank Group in order to retain the confidence of the
financial markets and maintain the sustainability of the business. Treasury and Capital Risk have created a framework to
manage all liquidity risk exposures under both normal and stressed conditions. The framework is designed to maintain
liquidity resources that are sufficient in amount, quality and funding tenor profile to remain within the liquidity limits set by
the Barclays Bank PLC Board. The Board sets liquidity limits on both internal and regulatory liquidity metrics.
Organisation, roles and responsibilities
Treasury has the primary responsibility for managing liquidity risk within the set risk appetite. Both Risk and Treasury
contribute to the production of the Internal Liquidity Adequacy Assessment Process (ILAAP). The Treasury and Capital Risk
function is responsible for the management and governance of the liquidity risk mandate, as defined by the Barclays Bank
PLC Board.
The liquidity risk management framework established by Treasury and Capital Risk is designed to deliver the appropriate
term and structure of funding, consistent with the risk appetite set by the Barclays Bank PLC Board. The framework
incorporates a range of ongoing business management tools to monitor and stress test Barclays Bank PLC's balance sheet
and recovery plan, including limit setting. Limit setting and transfer pricing are tools that are designed to control the level of
liquidity risk taken and drive the appropriate mix of funds. Adherence to limits reduces the likelihood that a liquidity stress
event could lead to an inability to meet the Barclays Bank Group’s obligations as they fall due.
The Barclays Bank PLC Board approves the Barclays Bank PLC funding plan, internal stress tests, regulatory stress tests,
recovery plan and liquidity risk qualitative statement that supports risk appetite. Barclays Bank PLC’s Treasury Committee is
responsible for monitoring and managing liquidity risk in line with Barclays Bank PLC’s funding management objectives,
funding plan and risk appetite. The Barclays Group Treasury and Capital Risk Committee monitors and reviews the liquidity
risk profile and control environment, providing second line oversight of the management of liquidity risk. The Barclays Bank
PLC Board Risk Committee reviews the risk profile, liquidity risk qualitative statement, and the impact of stress scenarios on
Barclays Bank PLC’s funding plan/forecast in order to agree Barclays Bank PLC’s projected funding abilities. The Barclays
Bank PLC Board Risk Committee also approves liquidity limits to define Barclays Bank PLC's risk appetite liquidity constraint.
Capital risk management (audited)
Overview
Capital risk is managed through ongoing monitoring and management of the capital and leverage position, regular stress
testing and a robust capital governance framework. The objectives of the framework are to maintain adequate capital for the
Barclays Bank Group and its legal entities to withstand the impact of the risks that may arise under normal and stressed
conditions, and maintain adequate capital to cover current and forecast business needs and associated risks to provide a
viable and sustainable business offering. The Barclays Bank Group aims to prudently manage its overall leverage position
(including risk of excessive leverage) by utilising plausible stress scenarios, reviewing and deploying management actions in
response to deteriorating economic and commercial positions. In order to manage contingent leverage risk, the Barclays
Bank Group considers the context from which the business consumption arises, the impact of client utilisation on leverage
and the available actions to manage.
Organisation, roles and responsibilities
Treasury has the primary responsibility for managing and monitoring capital adequacy. The Barclays Bank Group Treasury
and Capital Risk function provides oversight of capital risk. Production of the Barclays Bank PLC Internal Capital Adequacy
Assessment Process (ICAAP) is the responsibility of Treasury.
Capital risk management is underpinned by a control framework and policy. The capital management strategy, outlined in
the relevant legal entity capital plans, is developed in alignment with the control framework and policy for capital risk, and is
implemented consistently in order to deliver on the Barclays Bank Group’s objectives, which are aligned to those of the
Barclays Group.
The Barclays Bank PLC Board approves the Barclays Bank PLC capital plan, internal stress tests and results of regulatory
stress tests and those of the relevant Barclays Bank Group entities. The Barclays PLC Board also approves the Barclays Group
recovery plan which takes into account management actions identified at the Barclays Bank Group level. The Barclays Bank
PLC Treasury Committee and the Barclays Group Treasury Committee are responsible for monitoring and managing capital
risk in line with Barclays Bank Group’s capital management objectives, capital plan and risk frameworks. The Treasury and
Capital Risk Committee (TCRC) monitors and reviews the capital risk profile and control environment, providing second line
oversight of the management of capital risk.
For the relevant Barclays Bank Group subsidiaries, local management assures compliance with an entity’s minimum
regulatory capital requirements by reporting to local Asset and Liability Committees (or equivalents) with oversight by the
Barclays Bank PLC Treasury Committee and the Barclays Group Treasury Committee, as required. In 2025, Barclays complied
with all regulatory minimum capital requirements. Contingent leverage risk is managed by; i) setting comprehensive
leverage (and RWA) targets for each business as part of the Treasury capital management process, taking into account
adherence to early warning indicators and maintain a healthy leverage ratio, and; ii) Monitoring execution of actions taken to
course-correct as necessary.
The Barclays Bank Group maintains a number of defined benefit pension schemes for past and current employees. The
ability of schemes to meet pension payments is achieved with investments and contributions.
Pension risk arises because the market value of pension fund assets might decline; investment returns might reduce; or the
estimated value of pension liabilities might increase. The Barclays Bank Group monitors the pension risks arising from its
defined benefit pension schemes and works with the relevant pension fund’s trustees to address shortfalls. In these
circumstances the Barclays Bank Group could be required or might choose to make extra contributions to the pension fund.
The Barclays Bank Group’s main defined benefit scheme was closed to new entrants in 2012.
Interest rate risk in the banking book management (IRRBB)
Overview
Interest rate risk in the banking book is driven by counterparties deposit taking and lending activities, investments in the
liquid asset portfolio and funding activities. As per the Barclays Bank Group’s policy to remain within the defined risk
appetite, hedging strategies are executed to mitigate the various IRRBB risks that result from these activities. However, the
Barclays Bank Group remains susceptible to interest rate risk and other non-traded market risks from the following key
sources:
▪Interest rate and repricing risk: the risk that net interest income could be adversely impacted by a change in interest rates,
differences in the timing of interest rate changes between assets and liabilities, and other constraints on interest rate
changes as per product terms and conditions.
▪Counterparty behavioural risk: the risk that net interest income could be adversely impacted by the discretion that
counterparties may have in respect of being able to vary from their contractual obligations with the Barclays Bank Group.
This risk is often referred to by industry regulators as ‘embedded option risk’.
▪Investment risks in the liquid asset portfolio: the risk that the fair value of assets held in the liquid asset portfolio and
associated risk management portfolios could be adversely impacted by market volatility, creating volatility in capital
directly.
Organisation, roles and responsibilities
The Barclays Bank PLC Treasury Committee and the Barclays Group Treasury Committee are responsible for monitoring and
managing IRRBB risk in line with the Barclays Bank Group’s management objectives and risk frameworks. The BRC and
Treasury and Capital Risk Committee monitors and reviews the IRRBB risk profile and control environment, providing second
line oversight of the management of IRRBB. The BRC reviews the interest rate risk profile, including review of the risk
appetite at least annually and the impact of stress scenarios on the interest rate risk of the Barclays Bank PLC’s banking
books.
In addition, the Barclays Bank Group’s IRRBB policy sets out the processes and key controls required to identify all IRRBB
risks arising from banking book operations, to monitor the risk exposures via a set of metrics with a frequency in line with
the risk management horizon, and to manage these risks within agreed risk appetite and limits.
Maximum exposure and effect of netting, collateral and risk transfer (audited)
Maximum
exposure
Netting
and set-
off
Cash
collateral
Non-cash
collateral
Risk
transfer
Exposure
net of risk
mitigation
Barclays Bank Group
As at 31 December 2025
£m
£m
£m
£m
£m
£m
On-balance sheet:
Cash and balances at central banks
208,544
—
—
—
—
208,544
Cash collateral and settlement balances
124,519
—
—
—
—
124,519
Loans and advances at amortised cost:
Retail mortgages
4,952
—
(11)
(4,921)
(6)
14
Retail credit cards
20,527
—
—
—
—
20,527
Retail other
4,128
—
(1,064)
(2,617)
(43)
404
Corporate loans
121,179
(2,977)
(1,424)
(64,584)
(4,844)
47,350
Total loans and advances at amortised cost
150,786
(2,977)
(2,499)
(72,122)
(4,893)
68,295
Of which credit-impaired (Stage 3):
Retail mortgages
151
—
—
(151)
—
—
Retail credit cards
381
—
—
—
—
381
Retail other
87
—
—
(84)
—
3
Corporate loans
1,770
—
(22)
(1,003)
(247)
498
Total credit-impaired loans and advances at amortised cost
2,389
—
(22)
(1,238)
(247)
882
Debt securities at amortised cost
55,153
—
—
(136)
—
55,017
Reverse repurchase agreements and other similar secured lending
17,662
—
—
(17,662)
—
—
Trading portfolio assets:
Debt securities
94,040
—
—
(639)
—
93,401
Traded loans
12,249
—
—
(4,907)
—
7,342
Total trading portfolio assets
106,289
—
—
(5,546)
—
100,743
Financial assets at fair value through the income statement:
Loans and advances
46,885
—
(17)
(42,290)
—
4,578
Debt securities
3,121
—
—
(359)
—
2,762
Reverse repurchase agreements
132,600
—
(1,433)
(130,807)
—
360
Other financial assets
60
—
—
—
—
60
Total financial assets at fair value through the income statement
182,666
—
(1,450)
(173,456)
—
7,760
Derivative financial instruments
252,192
(194,772)
(29,930)
(12,646)
(4,121)
10,723
Financial assets at fair value through other comprehensive income
42,818
—
—
(2,390)
—
40,428
Other assets
624
—
(1)
—
—
623
Assets held for sale
5,801
—
—
—
—
5,801
Total on-balance sheet
1,147,054
(197,749)
(33,880)
(283,958)
(9,014)
622,453
Off-balance sheet:
Contingent liabilities
26,633
—
(1,768)
(768)
(194)
23,903
Loan commitments
355,388
—
(491)
(49,265)
(2,376)
303,256
Total off-balance sheet
382,021
—
(2,259)
(50,033)
(2,570)
327,159
Total
1,529,075
(197,749)
(36,139)
(333,991)
(11,584)
949,612
The above table excludes any credit risk mitigation that does not impact the expected credit loss for financial assets
measured at amortised cost. Off-balance sheet exposures are shown gross of provisions of £398m (2024: £420m), see Note
23 for further details. In addition to the above, Barclays Bank Group holds forward starting reverse repos amounting to
£81.5bn (2024: £108.6bn) which are fully collateralised. Corporate loans at amortised cost include £0.1bn (2024: £0.2bn) of
CBILs and CLBILs supported by UK government guarantees of £0.1bn (2024: £0.1bn) which are included within the Risk
transfer column in the table. Reported off-balance sheet loan commitments also include exposures relating to financial
assets classified as assets held for sale.
Maximum exposure and effects of netting, collateral and risk transfer (audited)
Maximum
exposure
Netting
and set-
off
Cash
collateral
Non-cash
collateral
Risk
transfer
Exposure
net of risk
mitigation
Barclays Bank Group
As at 31 December 2024
£m
£m
£m
£m
£m
£m
On-balance sheet:
Cash and balances at central banks
180,365
—
—
—
—
180,365
Cash collateral and settlement balances
113,987
—
—
—
—
113,987
Loans and advances at amortised cost:
Retail mortgages
4,956
—
(22)
(4,922)
—
12
Retail credit cards
19,749
—
—
—
—
19,749
Retail other
3,918
—
(1,106)
(2,441)
(33)
338
Corporate loans
116,204
(3,006)
(1,104)
(57,458)
(4,536)
50,100
Total loans and advances at amortised cost
144,827
(3,006)
(2,232)
(64,821)
(4,569)
70,199
Of which credit-impaired (Stage 3):
Retail mortgages
278
—
—
(277)
—
1
Retail credit cards
308
—
—
—
—
308
Retail other
191
—
(21)
(162)
—
8
Corporate loans
1,261
—
(32)
(383)
(87)
759
Total credit-impaired loans and advances at amortised cost
2,038
—
(53)
(822)
(87)
1,076
Debt securities at amortised cost
50,227
—
—
(583)
(40)
49,604
Reverse repurchase agreements and other similar secured lending
3,393
—
—
(3,393)
—
—
Trading portfolio assets:
Debt securities
77,805
—
—
(657)
—
77,148
Traded loans
13,470
—
—
(878)
—
12,592
Total trading portfolio assets
91,275
—
—
(1,535)
—
89,740
Financial assets at fair value through the income statement:
Loans and advances
44,182
—
(17)
(40,401)
—
3,764
Debt securities
2,931
—
—
(182)
—
2,749
Reverse repurchase agreements
141,791
—
(2,429)
(138,924)
—
438
Other financial assets
85
—
—
—
—
85
Total financial assets at fair value through the income statement
188,989
—
(2,446)
(179,507)
—
7,036
Derivative financial instruments
292,356
(230,260)
(28,953)
(12,633)
(5,284)
15,226
Financial assets at fair value through other comprehensive income
51,010
—
—
(1,104)
(102)
49,804
Other assets
665
—
(1)
—
—
664
Assets held for sale
9,544
—
—
—
—
9,544
Total on-balance sheet
1,126,638
(233,266)
(33,632)
(263,576)
(9,995)
586,169
Off-balance sheet:
Contingent liabilities
26,565
—
(2,664)
(441)
(248)
23,212
Loan commitments
353,777
—
(550)
(51,812)
(1,840)
299,575
Total off-balance sheet
380,342
—
(3,214)
(52,253)
(2,088)
322,787
—
—
—
—
—
—
Total
1,506,980
(233,266)
(36,846)
(315,829)
(12,083)
908,956
Barclays Bank Group (audited)
Stage 2
As at 31 December 2025
Stage 1
Not past
due
<=30 days
past due
>30 days
past due
Total
Stage 3
Total1
Gross exposure
£m
£m
£m
£m
£m
£m
£m
Retail mortgages
4,674
34
1
101
136
175
4,985
Retail credit cards
18,801
2,022
238
276
2,536
1,776
23,113
Retail other
3,788
80
123
62
265
107
4,160
Corporate loans
111,629
7,941
60
155
8,156
2,360
122,145
Total loans and advances at amortised cost
138,892
10,077
422
594
11,093
4,418
154,403
Debt securities at amortised cost
54,801
371
—
—
371
—
55,172
Total loans and advances at amortised cost
including debt securities
193,693
10,448
422
594
11,464
4,418
209,575
Impairment allowance
Retail mortgages
9
—
—
—
—
24
33
Retail credit cards
395
508
105
183
796
1,395
2,586
Retail other
7
3
1
1
5
20
32
Corporate loans
141
219
6
10
235
590
966
Total loans and advances at amortised cost
552
730
112
194
1,036
2,029
3,617
Debt securities at amortised cost
10
9
—
—
9
—
19
Total loans and advances at amortised cost
including debt securities
562
739
112
194
1,045
2,029
3,636
Net exposure
Retail mortgages
4,665
34
1
101
136
151
4,952
Retail credit cards
18,406
1,514
133
93
1,740
381
20,527
Retail other
3,781
77
122
61
260
87
4,128
Corporate loans
111,488
7,722
54
145
7,921
1,770
121,179
Total loans and advances at amortised cost
138,340
9,347
310
400
10,057
2,389
150,786
Debt securities at amortised cost
54,791
362
—
—
362
—
55,153
Total loans and advances at amortised cost
including debt securities
193,131
9,709
310
400
10,419
2,389
205,939
Coverage ratio
%
%
%
%
%
%
%
Retail mortgages
0.2
—
—
—
—
13.7
0.7
Retail credit cards
2.1
25.1
44.1
66.3
31.4
78.5
11.2
Retail other
0.2
3.8
0.8
1.6
1.9
18.7
0.8
Corporate loans
0.1
2.8
10.0
6.5
2.9
25.0
0.8
Total loans and advances at amortised cost
0.4
7.2
26.5
32.7
9.3
45.9
2.3
Debt securities at amortised cost
—
2.4
—
—
2.4
—
—
Total loans and advances at amortised cost
including debt securities
0.3
7.1
26.5
32.7
9.1
45.9
1.7
Note
1Other financial assets subject to impairment excluded in the table above include cash collateral and settlement balances, reverse repurchase
agreements and other similar secured lending, financial assets at fair value through other comprehensive income and other assets. These have a
total gross exposure of £186.1bn and an impairment allowance of £145m. This comprises £17m impairment allowance on £184.4bn Stage 1
exposure, £8m on £1.6bn Stage 2 exposure and £120m on £123m Stage 3 exposure. Loan commitments and financial guarantee contracts have
total impairment allowance of £398m.
   
Barclays Bank Group (audited)
Stage 2
As at 31 December 2024
Stage 1
Not past
due
<=30 days
past due
>30 days
past due
Total
Stage 3
Total1
Gross exposure
£m
£m
£m
£m
£m
£m
£m
Retail mortgages
4,537
9
—
141
150
310
4,997
Retail credit cards
17,629
2,449
256
248
2,953
1,724
22,306
Retail other
3,329
177
157
70
404
216
3,949
Corporate loans
107,194
7,944
137
66
8,147
1,654
116,995
Total loans and advances at amortised cost
132,689
10,579
550
525
11,654
3,904
148,247
Debt securities at amortised cost
47,077
3,170
—
—
3,170
—
50,247
Total loans and advances at amortised cost
including debt securities
179,766
13,749
550
525
14,824
3,904
198,494
Impairment allowance
Retail mortgages
8
1
—
—
1
32
41
Retail credit cards
334
552
105
150
807
1,416
2,557
Retail other
5
1
—
—
1
25
31
Corporate loans
144
240
6
8
254
393
791
Total loans and advances at amortised cost
491
794
111
158
1,063
1,866
3,420
Debt securities at amortised cost
9
11
—
—
11
—
20
Total loans and advances at amortised cost
including debt securities
500
805
111
158
1,074
1,866
3,440
Net exposure
Retail mortgages
4,529
8
—
141
149
278
4,956
Retail credit cards
17,295
1,897
151
98
2,146
308
19,749
Retail other
3,324
176
157
70
403
191
3,918
Corporate loans
107,050
7,704
131
58
7,893
1,261
116,204
Total loans and advances at amortised cost
132,198
9,785
439
367
10,591
2,038
144,827
Debt securities at amortised cost
47,068
3,159
—
—
3,159
—
50,227
Total loans and advances at amortised cost
including debt securities
179,266
12,944
439
367
13,750
2,038
195,054
Coverage ratio
%
%
%
%
%
%
%
Retail mortgages
0.2
11.1
—
—
0.7
10.3
0.8
Retail credit cards
1.9
22.5
41.0
60.5
27.3
82.1
11.5
Retail other
0.2
0.6
—
—
0.2
11.6
0.8
Corporate loans
0.1
3.0
4.4
12.1
3.1
23.8
0.7
Total loans and advances at amortised cost
0.4
7.5
20.2
30.1
9.1
47.8
2.3
Debt securities at amortised cost
—
0.3
—
—
0.3
—
—
Total loans and advances at amortised cost
including debt securities
0.3
5.9
20.2
30.1
7.2
47.8
1.7
Note
1Other financial assets subject to impairment excluded in the table above include cash collateral and settlement balances, reverse repurchase
agreements and other similar secured lending, financial assets at fair value through other comprehensive income and other assets. These have a
total gross exposure of £169.6bn and an impairment allowance of £150m. This comprises £17m impairment allowance on £168.3bn Stage 1
exposure, £7m on £1.1bn Stage 2 exposure and £126m on £130m Stage 3 exposure. Loan commitments and financial guarantee contracts have
total impairment allowance of £420m.
Movement in gross exposures and impairment allowance including provisions for loan commitments and financial
guarantees (audited)
The following tables present a reconciliation of the opening to the closing balance of the gross exposure and impairment
allowance.
Transfers between stages in the tables have been reflected as if they had taken place at the beginning of the year. 'Net
drawdowns, repayments, net re-measurement and movements due to exposure and risk parameter changes' includes
additional drawdowns and partial repayments from existing facilities. Additionally, the below tables do not include other
financial assets subject to impairment such as debt securities at amortised cost, reverse repurchase agreements and other
similar secured lending, cash collateral and settlement balances, financial assets at fair value through other comprehensive
income and other assets.
The movements are measured over a 12-month period.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
£m
£m
£m
£m
£m
£m
£m
£m
Retail mortgages
As at 1 January 2025
4,537
8
150
1
310
32
4,997
41
Transfers from Stage 1 to Stage 2
(92)
—
92
—
—
—
—
—
Transfers from Stage 2 to Stage 1
80
—
(80)
—
—
—
—
—
Transfers to Stage 3
(27)
—
(15)
—
42
—
—
—
Transfers from Stage 3
59
2
2
—
(61)
(2)
—
—
Business activity in the year
635
1
—
—
—
—
635
1
Refinements to models used for calculation
—
—
—
—
—
—
—
—
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
135
(1)
2
—
(19)
8
118
7
Final repayments
(653)
(1)
(14)
—
(80)
(1)
(747)
(2)
Disposals1
—
—
(1)
(1)
(9)
(5)
(10)
(6)
Write-offs
—
—
—
—
(8)
(8)
(8)
(8)
As at 31 December 2025
4,674
9
136
—
175
24
4,985
33
Retail credit cards
As at 1 January 2025
17,629
334
2,953
807
1,724
1,416
22,306
2,557
Transfers from Stage 1 to Stage 2
(1,047)
(35)
1,047
35
—
—
—
—
Transfers from Stage 2 to Stage 1
1,208
268
(1,208)
(268)
—
—
—
—
Transfers to Stage 3
(515)
(20)
(731)
(286)
1,246
306
—
—
Transfers from Stage 3
12
9
5
4
(17)
(13)
—
—
Business activity in the year2
2,575
75
237
87
60
40
2,872
202
Refinements to models used for calculation3
—
68
—
(81)
—
1
—
(12)
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
(980)
(299)
262
508
(45)
793
(763)
1,002
Final repayments
(81)
(5)
(29)
(10)
(32)
(26)
(142)
(41)
Disposals1
—
—
—
—
(308)
(270)
(308)
(270)
Write-offs
—
—
—
—
(852)
(852)
(852)
(852)
As at 31 December 2025
18,801
395
2,536
796
1,776
1,395
23,113
2,586
Retail other
As at 1 January 2025
3,329
5
404
1
216
25
3,949
31
Transfers from Stage 1 to Stage 2
(107)
—
107
—
—
—
—
—
Transfers from Stage 2 to Stage 1
80
—
(80)
—
—
—
—
—
Transfers to Stage 3
(75)
—
(35)
—
110
—
—
—
Transfers from Stage 3
56
1
—
—
(56)
(1)
—
—
Business activity in the year
1,155
—
24
—
—
—
1,179
—
Refinements to models used for calculation
—
—
—
—
—
—
—
—
Net drawdowns, repayments, net re-
measurement and movements due to exposure
and risk parameter changes
1,176
4
158
4
23
8
1,357
16
Final repayments
(1,826)
(3)
(313)
—
(179)
(5)
(2,318)
(8)
Disposals
—
—
—
—
—
—
—
—
Write-offs
—
—
—
—
(7)
(7)
(7)
(7)
As at 31 December 2025
3,788
7
265
5
107
20
4,160
32
Notes
1The £10m of gross disposals reported within Retail mortgages relate to sale of the Italian mortgage portfolio. The £308m of gross disposals
reported within Retail credit cards relate to debt sales undertaken during the year.
2Business activity in the year reported within Retail credit cards includes £1.2bn related to acquisition of the GM co-branded card portfolio within
USCB.
3Refinements to models used for calculation reported within Retail credit cards include a £(12)m movement in the calculated ECL for the US Cards
portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to determine
accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over an
extended period of time. This helps to ensure that the models used continue to reflect the risks inherent in the businesses.
     
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
£m
£m
£m
£m
£m
£m
£m
£m
Corporate loans
As at 1 January 2025
107,194
144
8,147
254
1,654
393
116,995
791
Transfers from Stage 1 to Stage 2
(2,685)
(11)
2,685
11
—
—
—
—
Transfers from Stage 2 to Stage 1
2,417
46
(2,417)
(46)
—
—
—
—
Transfers to Stage 3
(692)
(4)
(505)
(28)
1,197
32
—
—
Transfers from Stage 3
146
2
125
1
(271)
(3)
—
—
Business activity in the year1
28,266
40
976
37
225
19
29,467
96
Refinements to models used for calculation2
—
(65)
—
(24)
—
—
—
(89)
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
4,088
14
842
81
(50)
405
4,880
500
Final repayments
(27,104)
(24)
(1,695)
(49)
(40)
(1)
(28,839)
(74)
Disposals3
(1)
(1)
(2)
(2)
(121)
(21)
(124)
(24)
Write-offs
—
—
—
—
(234)
(234)
(234)
(234)
As at 31 December 2025
111,629
141
8,156
235
2,360
590
122,145
966
         
Reconciliation of ECL movement to credit impairment charge/(release) for the period
Stage 1
Stage 2
Stage 3
Total
£m
£m
£m
£m
Retail mortgages
1
—
5
6
Retail credit cards
61
(11)
1,101
1,151
Retail other
2
4
2
8
Corporate loans
(2)
(17)
452
433
ECL movement excluding disposals and write-offs4
62
(24)
1,560
1,598
ECL movement on loan commitments and financial guarantees
(23)
(6)
7
(22)
ECL movement on other financial assets
—
1
(6)
(5)
ECL movement on debt securities at amortised cost
1
(2)
—
(1)
Recoveries and reimbursements5
10
(26)
(102)
(118)
ECL charge on assets held for sale6
181
Total exchange and other adjustments
233
Total credit impairment charge for the year
1,866
Notes
1Business activity in the year reported within Corporate loans include £0.1bn related to acquisition of the GM co-branded card portfolio within
USCB.
2Refinements to models used for calculation reported within Corporate loans include a £(89)m movement in the calculated ECL for the UKCB and
IB portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to
determine accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over
an extended period of time. This helps to ensure that the models used continue to reflect the risks inherent in the businesses.
3The £124m of gross disposals reported within Corporate loans relate to debt sales undertaken during the year.
4In 2025, gross write-offs amounted to £1,101m and post write-off recoveries amounted to £38m. Net write-offs represent gross write-offs less
post write-off recoveries and amounted to £1,063m.
5Recoveries and reimbursements include £80m for reimbursements where the Barclays Bank Group has entered into financial guarantee
contracts which provide credit protection over certain assets with third parties and cash recoveries of previously written-off amounts of £38m.
6ECL charge on assets held for sale relate to the charges on a co-branded card portfolio in USCB and the German consumer finance business.
Loan commitments and financial guarantees
(audited)1
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
£m
£m
£m
£m
£m
£m
£m
£m
Retail mortgages
As at 1 January 2025
18
—
—
—
1
—
19
—
Net transfers between stages
—
—
—
—
—
—
—
—
Business activity in the year
—
—
—
—
—
—
—
—
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(5)
—
—
—
(1)
—
(6)
—
Limit management and final repayments
(3)
—
—
—
—
—
(3)
—
As at 31 December 2025
10
—
—
—
—
—
10
—
Retail credit cards
As at 1 January 2025
112,645
34
1,648
15
10
1
114,303
50
Net transfers between stages
(1,083)
7
1,083
(7)
—
—
—
—
Business activity in the year
24,319
11
120
2
—
—
24,439
13
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(6,434)
(19)
(1,528)
5
—
(1)
(7,962)
(15)
Limit management and final repayments
(11,277)
(7)
(196)
(4)
—
—
(11,473)
(11)
Disposals2
(5,291)
—
(221)
—
(10)
—
(5,522)
—
As at 31 December 2025
112,879
26
906
11
—
—
113,785
37
Retail other
As at 1 January 2025
3,970
5
103
—
11
—
4,084
5
Net transfers between stages
(28)
—
29
—
(1)
—
—
—
Business activity in the year
624
—
1
—
—
—
625
—
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
291
(4)
46
—
23
—
360
(4)
Limit management and final repayments
(784)
—
(33)
—
(20)
—
(837)
—
Disposals2
(756)
—
(30)
—
(1)
—
(787)
—
As at 31 December 2025
3,317
1
116
—
12
—
3,445
1
Corporate loans
As at 1 January 2025
229,565
116
15,079
225
954
24
245,598
365
Net transfers between stages
(201)
40
269
(40)
(68)
—
—
—
Business activity in the year
50,364
28
2,699
61
405
—
53,468
89
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
9,810
(54)
(492)
33
(282)
13
9,036
(8)
Limit management and final repayments
(60,919)
(26)
(4,259)
(56)
(340)
(4)
(65,518)
(86)
As at 31 December 2025
228,619
104
13,296
223
669
33
242,584
360
Notes
1Loan commitments reported also include exposure relating to financial assets classified as held for sale.
2The gross disposals reported within Retail credit cards and Retail other relate to the German consumer finance business; sale of which was
completed in Q125.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
£m
£m
£m
£m
£m
£m
£m
£m
Retail mortgages
As at 1 January 2024
7,257
11
389
28
716
321
8,362
360
Transfers from Stage 1 to Stage 2
(231)
—
231
—
—
—
—
—
Transfers from Stage 2 to Stage 1
91
3
(91)
(3)
—
—
—
—
Transfers to Stage 3
(82)
—
(30)
(3)
112
3
—
—
Transfers from Stage 3
19
1
11
0
(30)
(1)
—
—
Business activity in the year
632
1
—
—
2
—
634
1
Refinements to models used for calculation
—
—
—
—
—
—
—
—
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
197
(2)
(2)
9
69
40
264
47
Final repayments
(893)
(1)
(45)
(1)
(86)
(3)
(1,024)
(5)
Disposals1
(2,453)
(5)
(313)
(29)
(461)
(316)
(3,227)
(350)
Write-offs
—
—
—
—
(12)
(12)
(12)
(12)
As at 31 December 2024
4,537
8
150
1
310
32
4,997
41
Retail credit cards
As at 1 January 2024
22,315
412
3,450
1,138
1,522
1,226
27,287
2,776
Transfers from Stage 1 to Stage 2
(1,503)
(51)
1,503
51
—
—
—
—
Transfers from Stage 2 to Stage 1
1,170
321
(1,170)
(321)
—
—
—
—
Transfers to Stage 3
(616)
(24)
(876)
(390)
1,492
414
—
—
Transfers from Stage 3
10
9
8
5
(18)
(14)
—
—
Business activity in the year
1,508
33
206
59
20
18
1,734
110
Refinements to models used for calculation2
—
5
—
2
—
4
—
11
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
1,039
(280)
728
506
(45)
973
1,722
1,199
Final repayments
(108)
(7)
(32)
(13)
(1)
—
(141)
(20)
Transfers to assets held for Sale3
(5,495)
(64)
(689)
(161)
(57)
(46)
(6,241)
(271)
Disposals1
(691)
(20)
(175)
(69)
(249)
(219)
(1,115)
(308)
Write-offs
—
—
—
—
(940)
(940)
(940)
(940)
As at 31 December 2024
17,629
334
2,953
807
1,724
1,416
22,306
2,557
Retail other
As at 1 January 2024
2,734
8
369
2
308
35
3,411
45
Transfers from Stage 1 to Stage 2
(221)
—
221
—
—
—
—
—
Transfers from Stage 2 to Stage 1
86
—
(86)
—
—
—
—
—
Transfers to Stage 3
(148)
—
(53)
—
201
—
—
—
Transfers from Stage 3
82
—
47
—
(129)
—
—
—
Business activity in the year
1,159
1
—
—
—
—
1,159
1
Refinements to models used for calculation
—
—
—
—
—
—
—
—
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
1,640
—
36
—
74
13
1,750
13
Final repayments
(2,003)
(4)
(130)
(1)
(224)
(9)
(2,357)
(14)
Disposals
—
—
—
—
—
—
—
—
Write-offs
—
—
—
—
(14)
(14)
(14)
(14)
As at 31 December 2024
3,329
5
404
1
216
25
3,949
31
Notes
1The £3.2bn of gross disposals reported within Retail mortgages relate to sale of the Italian mortgage loans. The £1.1bn of  gross disposals
reported within Retail credit cards include £0.9bn sale of outstanding US Cards receivables to Blackstone and £0.2bn of other debt sale
undertaken during the year.
2Refinements to models used for calculation reported within Retail credit cards include a £11m movement in the calculated ECL for the US
Cards portfolio. These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to
determine accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation
over an extended period of time. This helps to ensure that the models used continue to reflect the risks inherent across the businesses.
3Transfers to assets held for sale reported within Retail credit cards relate to a co-branded card portfolio within USCB.
Loans and advances at amortised cost
(audited)
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
£m
£m
£m
£m
£m
£m
£m
£m
Corporate loans
As at 1 January 2024
100,956
179
8,967
309
1,235
348
111,158
836
Transfers from Stage 1 to Stage 2
(2,586)
(15)
2,586
15
—
—
—
—
Transfers from Stage 2 to Stage 1
2,098
42
(2,098)
(42)
—
—
—
—
Transfers to Stage 3
(404)
(2)
(392)
(21)
796
23
—
—
Transfers from Stage 3
143
1
23
5
(166)
(6)
—
—
Business activity in the year
28,497
39
811
34
183
19
29,491
92
Refinements to models used for calculation1
—
18
—
51
—
—
—
69
Net drawdowns, repayments, net re-
measurement and movements due to
exposure and risk parameter changes
3,957
(76)
198
—
6
270
4,161
194
Final repayments
(25,406)
(40)
(1,937)
(92)
(142)
(3)
(27,485)
(135)
Transfers to assets held for sale2
(49)
(1)
(9)
(3)
(1)
(1)
(59)
(5)
Disposals3
(12)
(1)
(2)
(2)
(2)
(2)
(16)
(5)
Write-offs
—
—
—
—
(255)
(255)
(255)
(255)
As at 31 December 2024
107,194
144
8,147
254
1,654
393
116,995
791
Reconciliation of ECL movement to credit impairment (release)/charge for the period
Stage 1
Stage 2
Stage 3
Total
£m
£m
£m
£m
Retail mortgages
2
2
39
43
Retail credit cards
6
(101)
1,395
1,300
Retail other
(3)
(1)
4
—
Corporate loans
(33)
(50)
303
220
ECL movement excluding assets held for sale, disposals and write-offs4
(28)
(150)
1,741
1,563
ECL movement on loan commitments and financial guarantees
(12)
(23)
(18)
(53)
ECL movement on other financial assets
3
6
(4)
5
ECL movement on debt securities at amortised cost
2
(6)
—
(4)
Recoveries and reimbursements5
(20)
23
(42)
(39)
ECL charge on Assets held for sale6
74
Total exchange and other adjustments
71
Total credit impairment charge for the year
1,617
Notes
1Refinements to models used for calculation reported within Corporate loans include a £69m movement in the calculated ECL for the IB portfolio.
These reflect model enhancements made during the year. Barclays Bank Group continually reviews the output of models to determine accuracy
of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over an extended period
of time. This helps to ensure that the models used continue to reflect the risks inherent across the businesses.
2Transfers to assets held for sale reported within Corporate loans relate to a co-branded card portfolio within USCB.
3The £16m of gross disposals reported within Corporate loans relate to debt sales undertaken during the year.
4In 2024, gross write-offs amounted to £1,221m and post write-off recoveries amounted to £28m. Net write-offs represent gross write-offs less
post write-off recoveries and amounted to £1,193m.
5Recoveries and reimbursements include £11m for reimbursements where the Barclays Bank Group has entered into financial guarantee
contracts which provide credit protection over certain assets with third parties and cash recoveries of previously written off amounts of £28m.
6ECL charge on assets held for sale relate to the German consumer finance business.
Loan commitments and financial guarantees
(audited)1
Stage 1
Stage 2
Stage 3
Total
Barclays Bank Group
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
Gross
exposure
ECL
£m
£m
£m
£m
£m
£m
£m
£m
Retail mortgages
As at 1 January 2024
41
—
—
—
1
—
42
—
Net transfers between stages
—
—
—
—
—
—
—
—
Business activity in the year
—
—
—
—
—
—
—
—
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
(16)
—
—
—
—
—
(16)
—
Limit management and final repayments
(7)
—
—
—
—
—
(7)
—
As at 31 December 2024
18
—
—
—
1
—
19
—
Retail credit cards
As at 1 January 2024
109,634
48
1,767
36
10
1
111,411
85
Net transfers between stages
(1,682)
20
1,675
(20)
7
—
—
—
Business activity in the year
15,489
11
160
3
1
—
15,650
14
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
2,467
(34)
(1,576)
11
(8)
—
883
(23)
Limit management and final repayments
(13,263)
(11)
(378)
(15)
—
—
(13,641)
(26)
As at 31 December 2024
112,645
34
1,648
15
10
1
114,303
50
Retail other
As at 1 January 2024
3,446
5
116
2
29
—
3,591
7
Net transfers between stages
(35)
—
23
—
12
—
—
—
Business activity in the year
741
2
1
—
—
—
742
2
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
621
(2)
(26)
(2)
(7)
—
588
(4)
Limit management and final repayments
(803)
—
(11)
—
(23)
—
(837)
—
As at 31 December 2024
3,970
5
103
—
11
—
4,084
5
Corporate loans
As at 1 January 2024
212,414
114
20,035
225
802
42
233,251
381
Net transfers between stages
1,240
29
(1,519)
(32)
279
3
—
—
Business activity in the year
50,350
33
1,650
30
192
—
52,192
63
Net drawdowns, repayments, net re-
measurement and movement due to
exposure and risk parameter changes
10,133
(34)
(1,391)
65
(31)
(13)
8,711
18
Limit management and final repayments
(44,572)
(26)
(3,696)
(63)
(288)
(8)
(48,556)
(97)
As at 31 December 2024
229,565
116
15,079
225
954
24
245,598
365
              Note
1Loan commitments reported also include exposure relating to financial assets classified as held for sale.
Management adjustments to models for impairment (audited)
Management adjustments to impairment models are applied in order to factor in certain conditions or changes in policy that
are not fully incorporated into the impairment models, or to reflect additional facts and circumstances at the period end.
Management adjustments are reviewed and incorporated into future model development where applicable.
Management adjustments are captured through “Economic uncertainty” and “Other” adjustments, and are presented by
product below:
Management adjustments to models for impairment allowance presented by product (audited)
Barclays Bank Group
Impairment
allowance pre
management
adjustments1
Economic
uncertainty
adjustments
(a)
Other
adjustments
(b)
Management 
adjustments2
(a+b)
Total
impairment
allowance3
Proportion of
Management
adjustments
to total
impairment
allowance
As at 31 December 2025
£m
£m
£m
£m
£m
%
Retail mortgages
25
—
8
8
33
24.2
Retail credit cards
2,505
31
87
118
2,623
4.5
Retail other
34
—
(1)
(1)
33
(3.0)
Corporate loans
1,253
49
24
73
1,326
5.5
Total
3,817
80
118
198
4,015
4.9
Debt securities at amortised cost
18
1
—
1
19
5.3
Total including debt securities at amortised cost
3,835
81
118
199
4,034
4.9
As at 31 December 2024
£m
£m
£m
£m
£m
%
Retail mortgages
38
—
3
3
41
7.3
Retail credit cards
2,630
—
(23)
(23)
2,607
(0.9)
Retail other
32
—
4
4
36
11.1
Corporate loans
1,162
—
(6)
(6)
1,156
(0.5)
Total
3,862
—
(22)
(22)
3,840
(0.6)
Debt securities at amortised cost
27
—
(7)
(7)
20
(35.0)
Total including debt securities at amortised cost
3,889
—
(29)
(29)
3,860
(0.8)
Notes
1      Includes £3.4bn (2024: £3.7bn) of modelled ECL, £0.5bn (2024: £0.3bn) of individually assessed impairments, £(0.2)bn (2024: £(0.3)bn) of
ECL from assets held for sale (co-branded card portfolio) and £0.1bn (2024: £0.1bn) of ECL from benchmarked exposures and debt securities.
2      Management adjustments related to other financial assets subject to impairment not included in the table above include cash collateral and
settlement balances £1m (2024: £(1)m), reverse repurchase agreements £1m (2024: £(2)m) and financial assets at fair value through other
comprehensive income £nil (2024: £(2)m) within the IB portfolio.
3      Total impairment allowance consists of ECL stock on drawn and undrawn exposures.
Economic uncertainty adjustments presented by stage (audited)
Stage 1
Stage 2
Stage 3
Total
As at 31 December 2025
£m
£m
£m
£m
Retail mortgages
—
—
—
—
Retail credit cards
—
31
—
31
Retail other
—
—
—
—
Corporate loans
16
33
—
49
Total
16
64
—
80
Debt Securities at amortised cost
1
—
—
1
Total including debt securities at amortised cost
17
64
—
81
Economic uncertainty adjustments
Economic uncertainty adjustments are captured in two ways. First, customer uncertainty: the identification of customers
and clients who may be more vulnerable to economic instability; and second, model uncertainty: to capture the impact of
model limitations and sensitivities to specific macroeconomic parameters, which are applied at a portfolio level.
The Barclays Bank Group continues to monitor the elevated tariffs, trade tensions, and geopolitical risks, especially in the US.
In response, an adjustment of £81m introduced during Q125 within customer and client uncertainty provisions has been
retained, with any resulting effects on customer behaviour yet to materialise.
Other adjustments
Other adjustments are operational and remain in place until incorporated into the underlying models. These adjustments
result from data limitations and model performance related issues identified through model monitoring and other
established governance processes.
Total other adjustments as at 31 December 2025 are £118m (2024: £(29)m) and include:
•Retail mortgages £8m (2024: £3m): Reflects operational adjustments in the Mortgage product of the Private Banking
portfolio
•Retail credit cards £87m (2024: £(23)m): This adjustment reflects provisioning for the GM consumer cards portfolio
acquired during the year, while the previously held high-risk account management (HRAM) adjustment was retired
following model remediation in USCB
•Corporate loans £24m (2024: £(6)m): This adjustment reflects provisioning for the GM business cards portfolio
acquired during the year
•Debt securities £nil (2024: £(7)m): The movement is driven by the retirement of the Exposure at Default recalibration
adjustment following model remediation in the IB portfolio
Baseline
2025
2026
2027
2028
2029
As at 31 December 2025
%
%
%
%
%
UK GDP1
1.5
1.1
1.4
1.4
1.4
UK unemployment2
4.7
4.9
4.8
4.8
4.7
UK HPI3
1.5
2.9
2.5
4.3
3.8
UK bank rate
4.2
3.4
3.4
3.5
3.6
US GDP1
2.1
2.0
2.0
2.0
2.0
US unemployment4
4.2
4.5
4.4
4.4
4.4
US HPI5
3.2
1.7
1.9
2.6
2.6
US federal funds rate
4.2
3.4
3.3
3.3
3.5
Downside 2
UK GDP1
1.5
(2.5)
(1.2)
2.8
1.1
UK unemployment2
4.7
5.8
7.7
6.9
5.7
UK HPI3
1.5
(24.9)
(5.1)
9.6
14.2
UK bank rate
4.2
2.3
0.5
0.4
1.1
US GDP1
2.1
(2.7)
(2.8)
1.6
2.4
US unemployment4
4.2
5.7
8.0
7.9
5.9
US HPI5
3.2
(8.2)
(1.7)
7.2
7.7
US federal funds rate
4.2
3.6
2.4
1.4
1.2
Downside 1
UK GDP1
1.5
(0.7)
0.1
2.1
1.3
UK unemployment2
4.7
5.3
6.3
5.8
5.2
UK HPI3
1.5
(11.8)
(1.3)
6.9
8.9
UK bank rate
4.2
2.9
2.0
1.9
2.4
US GDP1
2.1
(0.3)
(0.4)
1.8
2.2
US unemployment4
4.2
5.1
6.2
6.1
5.1
US HPI5
3.2
(3.3)
0.1
4.9
5.1
US federal funds rate
4.2
3.6
2.8
2.4
2.4
Upside 2
UK GDP1
1.5
2.7
3.7
2.9
2.4
UK unemployment2
4.7
4.3
4.0
3.9
3.8
UK HPI3
1.5
11.9
8.4
5.1
4.1
UK bank rate
4.2
3.1
2.3
2.3
2.6
US GDP1
2.1
2.8
3.1
2.8
2.8
US unemployment4
4.2
3.9
3.7
3.7
3.7
US HPI5
3.2
6.2
4.7
4.8
4.9
US federal funds rate
4.2
3.0
2.5
2.5
2.5
Upside 1
UK GDP1
1.5
1.9
2.6
2.2
1.9
UK unemployment2
4.7
4.6
4.4
4.4
4.3
UK HPI3
1.5
7.4
5.4
4.7
3.9
UK bank rate
4.2
3.2
2.8
2.8
3.1
US GDP1
2.1
2.4
2.6
2.4
2.4
US unemployment4
4.2
4.2
4.1
4.1
4.1
US HPI5
3.2
4.0
3.3
3.7
3.7
US federal funds rate
4.2
3.3
2.8
2.8
3.0
Notes
1Average Real GDP seasonally adjusted change in year.
2Average UK unemployment rate 16-year+.
3Change in year end UK HPI = Halifax HPI Meth2 All Houses, All Buyers index.
4Average US civilian unemployment rate 16-year+.
5Change in year end US HPI = FHFA house price index, relative to prior year end.
Baseline
2024
2025
2026
2027
2028
As at 31 December 2024
%
%
%
%
%
UK GDP1
1.0
1.4
1.5
1.6
1.5
UK unemployment2
4.3
4.4
4.5
4.4
4.4
UK HPI3
2.8
3.3
1.6
4.5
3.0
UK bank rate
5.1
4.3
4.0
4.0
3.8
US GDP1
2.7
2.0
2.0
2.0
2.0
US unemployment4
4.1
4.3
4.2
4.2
4.2
US HPI5
6.5
2.6
2.7
3.0
3.0
US federal funds rate
5.1
4.1
4.0
3.8
3.8
2024
2025
2026
2027
2028
Downside 2
%
%
%
%
%
UK GDP1
1.0
(2.3)
(1.3)
2.6
2.3
UK unemployment2
4.3
6.2
8.1
6.6
5.5
UK HPI3
2.8
(24.8)
(5.2)
10.0
14.6
UK bank rate
5.1
3.5
1.7
0.6
1.1
US GDP1
2.7
(1.3)
(1.3)
3.3
2.9
US unemployment4
4.1
5.8
7.2
6.2
5.5
US HPI5
6.5
(8.0)
(0.7)
5.2
4.0
US federal funds rate
5.1
2.5
0.6
0.8
1.5
2024
2025
2026
2027
2028
Downside 1
%
%
%
%
%
UK GDP1
1.0
(0.5)
0.1
2.1
1.9
UK unemployment2
4.3
5.3
6.3
5.5
5.0
UK HPI3
2.8
(11.6)
(1.8)
7.2
8.7
UK bank rate
5.1
3.9
2.9
2.3
2.4
US GDP1
2.7
0.3
0.4
2.7
2.4
US unemployment4
4.1
5.1
5.7
5.2
4.9
US HPI5
6.5
(2.7)
1.0
4.1
3.5
US federal funds rate
5.1
3.4
2.3
2.3
2.7
2024
2025
2026
2027
2028
Upside 2
%
%
%
%
%
UK GDP1
1.0
3.0
3.7
2.9
2.4
UK unemployment2
4.3
3.8
3.4
3.5
3.5
UK HPI3
2.8
11.9
8.4
5.1
4.1
UK bank rate
5.1
3.9
2.9
2.8
2.8
US GDP1
2.7
2.8
3.1
2.8
2.8
US unemployment4
4.1
3.8
3.5
3.5
3.5
US HPI5
6.5
6.2
4.7
4.8
4.9
US federal funds rate
5.1
3.7
3.3
3.1
2.8
2024
2025
2026
2027
2028
Upside 1
%
%
%
%
%
UK GDP1
1.0
2.2
2.6
2.2
2.0
UK unemployment2
4.3
4.1
4.0
4.0
4.0
UK HPI3
2.8
7.6
4.9
4.8
3.5
UK bank rate
5.1
4.1
3.5
3.4
3.3
US GDP1
2.7
2.4
2.6
2.4
2.4
US unemployment4
4.1
4.0
3.9
3.9
3.9
US HPI5
6.5
4.4
3.7
3.9
3.9
US federal funds rate
5.1
4.0
3.8
3.6
3.3
Notes
1Average Real GDP seasonally adjusted change in year.
2Average UK unemployment rate 16-year+.
3Change in year end UK HPI = Halifax All Houses, All Buyers index, relative to prior year end.
4Average US civilian unemployment rate 16-year+.
5Change in year end US HPI = FHFA house price index, relative to prior year end.
Scenario weighting (audited)1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
%
%
%
%
%
As at 31 December 2025
Scenario weighting
14.4
27.4
38.5
12.7
7.0
As at 31 December 2024
Scenario weighting
17.4
26.8
32.5
14.7
8.6
Note
1For further details on changes to scenario weights see page 105.
Specific bases show the most extreme position of each variable in the context of the downside/upside scenarios, for
example, the highest unemployment for downside scenarios, average unemployment for baseline scenarios and lowest
unemployment for upside scenarios. GDP and HPI downside and upside scenario data represents the lowest and highest
points relative to the start point in the 20 quarter period.
Macroeconomic variables used in the calculation of ECL (specific bases) (audited)1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
%
%
%
%
%
As at 31 December 2025
UK GDP2
14.5
10.8
1.4
(0.3)
(3.5)
UK unemployment3
3.8
4.3
4.8
6.5
8.1
UK HPI4
34.6
24.9
3.0
(12.6)
(28.0)
UK bank rate3
2.3
2.8
3.6
4.6
4.6
US GDP2
14.6
12.4
2.0
(0.2)
(4.6)
US unemployment3
3.7
4.1
4.4
6.6
8.8
US HPI4
26.2
19.3
2.4
(1.5)
(8.1)
US federal funds rate3
2.5
2.8
3.5
4.3
4.3
As at 31 December 2024
UK GDP2
15.0
11.6
1.4
0.2
(2.9)
UK unemployment3
3.4
3.9
4.4
6.5
8.4
UK HPI4
36.3
25.9
3.0
(11.3)
(26.8)
UK bank rate3
2.8
3.3
4.2
5.3
5.3
US GDP2
14.9
12.8
2.2
0.4
(2.1)
US unemployment3
3.5
3.8
4.2
5.9
7.5
US HPI4
30.1
24.4
3.5
1.1
(4.0)
US federal funds rate3
2.8
3.3
4.2
5.3
5.3
Average basis represents the average quarterly value of variables in the 20 quarter period with GDP and HPI based on yearly
average and quarterly CAGRs respectively.
Macroeconomic variables used in the calculation of ECL (5 year averages) (audited)1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
%
%
%
%
%
As at 31 December 2025
UK GDP5
2.7
2.0
1.4
0.9
0.3
UK unemployment6
4.1
4.5
4.8
5.5
6.2
UK HPI7
6.1
4.5
3.0
0.6
(2.0)
UK bank rate6
2.9
3.2
3.6
2.7
1.7
US GDP5
2.7
2.4
2.0
1.1
0.1
US unemployment6
3.9
4.1
4.4
5.4
6.3
US HPI7
4.8
3.6
2.4
1.9
1.5
US federal funds rate6
2.9
3.2
3.5
3.1
2.5
As at 31 December 2024
UK GDP5
2.6
2.0
1.4
0.9
0.5
UK unemployment6
3.7
4.0
4.4
5.3
6.1
UK HPI7
6.4
4.7
3.0
0.8
(1.6)
UK bank rate6
3.5
3.9
4.2
3.3
2.4
US GDP5
2.9
2.5
2.2
1.7
1.2
US unemployment6
3.7
3.9
4.2
5.0
5.8
US HPI7
5.4
4.5
3.5
2.4
1.2
US federal funds rate6
3.6
4.0
4.2
3.2
2.1
Notes
1    UK GDP = Real GDP growth seasonally adjusted; UK unemployment = UK unemployment rate 16-year+; UK HPI (31.12.24) = Halifax All Houses,
All Buyers Index; UK HPI (31.12.25) = Halifax HPI Meth2 All Houses, All Buyers index; US GDP = Real GDP growth seasonally adjusted; US
unemployment = US civilian unemployment rate 16-year+; US HPI = FHFA house price index. 20 quarter period starts from Q125 (2024: Q124).
2  Maximum growth relative to Q424 (2024: Q423), based on 20 quarter period in Upside scenarios; 5-year yearly average CAGR in Baseline;
minimum growth relative to Q424 (2024: Q423), based on 20 quarter period in Downside scenarios.
3    Lowest quarter in Upside scenarios; 5-year average in Baseline; highest quarter in Downside scenarios. Period based on 20 quarters from Q125
(2024: Q124).
4    Maximum growth relative to Q424 (2024: Q423), based on 20 quarter period in Upside scenarios; 5-year quarter end CAGR in Baseline;
minimum growth relative to Q424 (2024: Q423), based on 20 quarter period in Downside scenarios.
5    5-year yearly average CAGR, starting 2024 (2024: 2023).
6    5-year average. Period based on 20 quarters from Q125 (2024: Q124).
7    5-year quarter end CAGR, starting Q424 (2024: Q423).
The table below shows the modelled ECL assuming each of the five modelled scenarios are 100% weighted with the
dispersion of results around the Baseline, highlighting the impact on exposure and ECL across the scenarios.
Model exposure uses exposure at default (EAD) values and is not directly comparable to gross exposure used in other
disclosures.
Barclays Bank Group (audited)
Scenarios
As at 31 December 2025
Weighted1
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
Stage 1 Model exposure (£m)
Retail mortgages
13
13
13
13
13
13
Retail credit cards2
41,195
40,997
41,089
41,197
41,419
41,583
Retail other
—
—
—
—
—
—
Corporate loans2
201,622
202,562
202,203
201,950
200,869
197,068
Stage 1 Model ECL (£m)
Retail mortgages
—
—
—
—
—
—
Retail credit cards2
448
420
434
450
475
500
Retail other
—
—
—
—
—
—
Corporate loans2
197
172
180
188
233
280
Stage 1 Coverage (%)
Retail mortgages
—
—
—
—
—
—
Retail credit cards
1.1
1.0
1.1
1.1
1.1
1.2
Retail other
—
—
—
—
—
—
Corporate loans
0.1
0.1
0.1
0.1
0.1
0.1
Stage 2 Model exposure (£m)
Retail mortgages
1
1
1
1
1
1
Retail credit cards2
3,513
3,392
3,455
3,504
3,634
3,837
Retail other
—
—
—
—
—
—
Corporate loans2
15,180
14,097
14,510
14,869
16,082
20,024
Stage 2 Model ECL (£m)
Retail mortgages
—
—
—
—
—
—
Retail credit cards2
871
809
840
868
936
1,029
Retail other
—
—
—
—
—
—
Corporate loans2
410
331
356
387
521
771
Stage 2 Coverage (%)
Retail mortgages
—
—
—
—
—
—
Retail credit cards
24.8
23.9
24.3
24.8
25.8
26.8
Retail other
—
—
—
—
—
—
Corporate loans
2.7
2.3
2.5
2.6
3.2
3.9
Stage 3 Model exposure (£m)3
Retail mortgages
15
15
15
15
15
15
Retail credit cards2
1,975
1,975
1,975
1,975
1,975
1,975
Retail other
—
—
—
—
—
—
Corporate loans2
35
35
35
35
35
35
Stage 3 Model ECL (£m)
Retail mortgages
2
1
1
2
2
2
Retail credit cards2
1,498
1,455
1,479
1,503
1,534
1,563
Retail other
—
—
—
—
—
—
Corporate loans2,4
25
25
25
25
25
25
Stage 3 Coverage (%)
Retail mortgages
13.3
6.7
6.7
13.3
13.3
13.3
Retail credit cards
75.8
73.7
74.9
76.1
77.7
79.1
Retail other
—
—
—
—
—
—
Corporate loans4
71.4
71.4
71.4
71.4
71.4
71.4
Total Model ECL (£m)
Retail mortgages
2
1
1
2
2
2
Retail credit cards2
2,817
2,684
2,753
2,821
2,945
3,092
Retail other
—
—
—
—
—
—
Corporate loans2,4
632
528
561
600
779
1,076
Total Model ECL
3,451
3,213
3,315
3,423
3,726
4,170
Reconciliation to total ECL
£m
Total weighted model ECL
3,451
ECL from individually assessed exposures4
538
ECL from benchmarked exposures and others
63
ECL from debt securities at amortised cost
19
ECL from held for sale assets (co-branded card portfolio)
(235)
ECL from post model management adjustments
198
  Of which: ECL from economic uncertainty adjustments
80
Total ECL
4,034
Notes
1.Model exposures are allocated to a stage based on an individual scenario rather than a probability-weighted approach, as required for Barclays
reported impairment allowance. As a result, it is not possible to back solve the final reported weighted ECL from individual scenarios given
balances may be assigned to a different stage dependent on the scenario.
2.Model exposure and ECL reported within Retail credit cards and Corporate loans continue to include a co-branded card portfolio in USCB,
classified as assets held for sale.
3.Model exposures allocated to Stage 3 do not change in any of the scenarios as the transition criteria relies only on observable evidence of
default as at 31 December 2025 and not on the macroeconomic scenario.
4.Material corporate loan defaults are individually assessed across different recovery strategies. As a result, ECL of £538m is reported as an
individually assessed impairment in the reconciliation table.
The use of five scenarios with associated weightings results in a total weighted ECL uplift from the Baseline ECL of 0.8%.
Retail mortgages: Total weighted ECL of £2m is aligned to the Baseline ECL (£2m).
Retail credit cards: Total weighted ECL of £2,817m is broadly aligned to the Baseline ECL (£2,821m). Total ECL increases to
£3,092m under the Downside 2 scenario, driven by an increase in US unemployment rate.
Corporate loans: Total weighted ECL of £632m represents a 5.3% increase over the Baseline ECL (£600m). Total ECL
increases to £1,076m under the Downside 2 scenario, primarily driven by a decrease in US GDP.
Barclays Bank Group (audited)
Scenarios1
As at 31 December 2024
Weighted2
Upside 2
Upside 1
Baseline
Downside 1
Downside 2
Stage 1 Model exposure (£m)
Retail mortgages
9
9
9
9
9
9
Retail credit cards
45,377
45,328
45,352
45,377
45,429
45,462
Retail other
—
—
—
—
—
—
Corporate loans
193,873
194,752
194,413
194,151
193,208
189,985
Stage 1 Model ECL (£m)
Retail mortgages
—
—
—
—
—
—
Retail credit cards
422
410
417
423
431
438
Retail other
—
—
—
—
—
—
Corporate loans
237
206
215
226
272
318
Stage 1 Coverage (%)
Retail mortgages
—
—
—
—
—
—
Retail credit cards
0.9
0.9
0.9
0.9
0.9
1.0
Retail other
—
—
—
—
—
—
Corporate loans
0.1
0.1
0.1
0.1
0.1
0.2
Stage 2 Model exposure (£m)
Retail mortgages
3
3
3
3
3
3
Retail credit cards
4,591
4,516
4,554
4,590
4,660
4,752
Retail other
—
—
—
—
—
—
Corporate loans
17,769
16,740
17,134
17,508
18,576
21,956
Stage 2 Model ECL (£m)
Retail mortgages
—
—
—
—
—
—
Retail credit cards
1,024
976
999
1,023
1,070
1,127
Retail other
—
—
—
—
—
—
Corporate loans
464
373
404
439
569
813
Stage 2 Coverage (%)
Retail mortgages
—
—
—
—
—
—
Retail credit cards
22.3
21.6
21.9
22.3
23.0
23.7
Retail other
—
—
—
—
—
—
Corporate loans
2.6
2.2
2.4
2.5
3.1
3.7
Stage 3 Model exposure (£m)3
Retail mortgages
25
25
25
25
25
25
Retail credit cards
2,005
2,005
2,005
2,005
2,005
2,005
Retail other
—
—
—
—
—
—
Corporate loans
34
34
34
34
34
34
Stage 3 Model ECL (£m)
Retail mortgages
5
4
5
5
5
5
Retail credit cards
1,535
1,496
1,517
1,537
1,570
1,598
Retail other
—
—
—
—
—
—
Corporate loans4
25
25
25
25
25
25
Stage 3 Coverage (%)
Retail mortgages
20.0
16.0
20.0
20.0
20.0
20.0
Retail credit cards
76.6
74.6
75.7
76.7
78.3
79.7
Retail other
—
—
—
—
—
—
Corporate loans4
73.5
73.5
73.5
73.5
73.5
73.5
Total Model ECL (£m)
Retail mortgages
5
4
5
5
5
5
Retail credit cards
2,981
2,882
2,933
2,983
3,071
3,163
Retail other
—
—
—
—
—
—
Corporate loans4
726
604
644
690
866
1,156
Total Model ECL
3,712
3,490
3,582
3,678
3,942
4,324
Reconciliation to total ECL
£m
Total weighted model ECL
3,712
ECL from individually assessed exposures4
329
ECL from benchmarked exposures and others
103
ECL from debt securities at amortised cost
20
ECL from held for sale assets (co-branded card portfolio)
(282)
ECL from post model management adjustments5
(22)
  Of which: ECL from economic uncertainty adjustments
—
Total ECL
3,860
Notes
1.Model exposure and ECL reported within Retail credit cards and Retail Other excludes the German consumer finance business, sale of
which completed after the balance sheet date. Model exposure and ECL reported within Retail credit cards and Corporate loans continue
to include a co-branded card portfolio, as the sale is expected to close in 2026.
2.Model exposures are allocated to a stage based on an individual scenario rather than a probability-weighted approach, as required for
Barclays reported impairment allowance. As a result, it is not possible to back solve the final reported weighted ECL from individual
scenarios given balances may be assigned to a different stage dependent on the scenario.
3.Model exposures allocated to Stage 3 do not change in any of the scenarios as the transition criteria relies only on observable evidence of
default as at 31 December 2024 and not on the macroeconomic scenario.
4.Material corporate loan defaults are individually assessed across different recovery strategies. As a result, ECL of £329m is reported as an
individually assessed impairment in the reconciliation table.
5.Includes negative operational management adjustments.
Credit risk concentration by Industry and Geography (audited)
Loans and advances at amortised cost net of impairment allowance
Industry
Geography
United
Kingdom
Americas
Europe
Others
Total
Barclays Bank Group
As at 31 December 2025
£m
£m
£m
£m
£m
Agriculture, Food and Forest Products
61
—
74
—
135
Mining and Quarrying
679
357
221
8
1,265
Manufacturing
3,500
1,150
760
361
5,771
Government and central bank
156
—
118
478
752
Banks
1,151
3,435
1,719
2,731
9,036
Energy and water
2,176
1,068
294
324
3,862
Materials and Building
13,376
2,414
397
365
16,552
Wholesale and retail distribution and leisure
6,085
675
251
509
7,520
Transport and storage
693
344
205
125
1,367
Home Loans
2,948
116
832
1,056
4,952
Business and other services
12,163
5,610
4,024
1,405
23,202
Other Financial Institutions
9,482
30,760
8,630
2,845
51,717
Cards, unsecured loans and other personal lending
1,404
20,942
1,409
900
24,655
Total loans and advances at amortised cost
53,874
66,871
18,934
11,107
150,786
Debt securities at amortised cost
18,176
18,854
17,250
873
55,153
Total loans and advances at amortised cost including debt
72,050
85,725
36,184
11,980
205,939
Contingent liabilities
6,780
12,320
5,084
1,544
25,728
Loan commitments
49,003
239,882
35,550
9,661
334,096
Total off-balance sheet1
55,783
252,202
40,634
11,205
359,824
As at 31 December 2024
Agriculture, Food and Forest Products
112
—
—
—
112
Mining and Quarrying
506
709
189
—
1,404
Manufacturing
3,168
1,418
828
349
5,763
Government and central bank
220
—
2
342
564
Banks
1,212
3,573
1,286
2,707
8,778
Energy and water
2,067
401
203
287
2,958
Materials and Building
11,255
2,815
399
218
14,687
Wholesale and retail distribution and leisure
5,931
831
294
616
7,672
Transport and storage
519
421
300
96
1,336
Home Loans
3,079
110
899
868
4,956
Business and other services
11,846
5,196
3,646
1,031
21,719
Other Financial Institutions
10,655
30,788
7,226
2,542
51,211
Cards, unsecured loans and other personal lending
1,826
20,081
993
767
23,667
Total loans and advances at amortised cost
52,396
66,343
16,265
9,823
144,827
Debt securities at amortised cost
15,822
18,062
15,123
1,220
50,227
Total loans and advances at amortised cost including debt
68,218
84,405
31,388
11,043
195,054
Contingent liabilities
6,442
10,742
5,514
2,879
25,577
Loan commitments
46,590
243,612
39,864
8,361
338,427
Total off-balance sheet1
53,032
254,354
45,378
11,240
364,004
Note
1The Off-balance sheet contingent liabilities and loan commitments excludes the fair value balance of £22,197m in 2025 (2024: £16,338m) and
includes exposures relating to financial assets classified as assets held for sale.
Balance sheet credit quality (audited)
PD Range
PD Range
Barclays Bank Group
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
As at 31 December 2025
£m
£m
£m
£m
%
%
%
%
Cash and balances at central banks
208,544
—
—
208,544
100
—
—
100
Cash collateral and settlement balances
111,541
12,970
8
124,519
90
10
—
100
Loans and advances at amortised cost
Retail mortgages
4,662
138
152
4,952
94
3
3
100
Retail credit cards
5,933
13,141
1,453
20,527
29
64
7
100
Retail other
3,605
424
99
4,128
88
10
2
100
Corporate loans
98,665
19,129
3,385
121,179
81
16
3
100
Total loans and advances at amortised
cost
112,865
32,832
5,089
150,786
75
22
3
100
Debt securities at amortised cost
54,760
333
60
55,153
99
1
—
100
Reverse repurchase agreements and
other similar secured lending
15,712
1,950
—
17,662
89
11
—
100
Trading portfolio assets:
Debt securities
79,405
14,144
491
94,040
84
15
1
100
Traded loans
5,339
5,241
1,669
12,249
43
43
14
100
Total trading portfolio assets
84,744
19,385
2,160
106,289
80
18
2
100
Financial assets at fair value through the
income statement:
Loans and advances
26,317
20,026
542
46,885
56
43
1
100
Debt securities
1,937
930
254
3,121
62
30
8
100
Reverse repurchase agreements
96,968
35,131
501
132,600
73
27
—
100
Other financial assets
41
19
—
60
68
32
—
100
Total financial assets at fair value
through the income statement
125,263
56,106
1,297
182,666
68
31
1
100
Derivative financial instruments
237,139
14,617
436
252,192
94
6
—
100
Financial assets at fair value through
other comprehensive income
42,756
62
—
42,818
100
—
—
100
Other assets
566
56
2
624
91
9
—
100
Assets held for sale
2,461
3,130
210
5,801
42
54
4
100
Total on-balance sheet
996,351
141,441
9,262
1,147,054
87
12
1
100
Balance sheet credit quality (audited)
PD Range
PD Range
Barclays Bank Group
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
0.0 to
<0.60%
0.60 to
<11.35%
11.35% to
100%
Total
As at 31 December 2024
£m
£m
£m
£m
%
%
%
%
Cash and balances at central banks
180,365
—
—
180,365
100
—
—
100
Cash collateral and settlement balances
98,590
15,371
26
113,987
87
13
—
100
Loans and advances at amortised cost
Retail mortgages
4,524
153
279
4,956
91
3
6
100
Retail credit cards
7,488
11,063
1,198
19,749
38
56
6
100
Retail other
3,217
503
198
3,918
82
13
5
100
Corporate loans
93,324
19,893
2,987
116,204
80
17
3
100
Total loans and advances at amortised
cost
108,553
31,612
4,662
144,827
75
22
3
100
Debt securities at amortised cost
49,888
339
—
50,227
99
1
—
100
Reverse repurchase agreements and
other similar secured lending
1,625
1,768
—
3,393
48
52
—
100
Trading portfolio assets:
Debt securities
65,785
11,478
542
77,805
84
15
1
100
Traded loans
2,543
7,442
3,485
13,470
19
55
26
100
Total trading portfolio assets
68,328
18,920
4,027
91,275
75
21
4
100
Financial assets at fair value through the
income statement:
Loans and advances
24,252
19,357
573
44,182
55
44
1
100
Debt securities
1,722
1,156
53
2,931
59
39
2
100
Reverse repurchase agreements
103,589
37,565
637
141,791
73
27
—
100
Other financial assets
63
22
—
85
74
26
—
100
Total financial assets at fair value
through the income statement
129,626
58,100
1,263
188,989
68
31
1
100
Derivative financial instruments
274,058
18,104
194
292,356
94
6
—
100
Financial assets at fair value through
other comprehensive income
50,960
50
—
51,010
100
—
—
100
Other assets
594
68
3
665
90
10
—
100
Assets held for sale
1,178
8,235
131
9,544
12
87
1
100
Total on-balance sheet
963,765
152,567
10,306
1,126,638
85
14
1
100
Credit exposures by internal PD grade
The below tables represent credit risk profiles by PD grade for loans and advances at amortised cost, contingent liabilities
and loan commitments.
Stage 1 higher risk assets, presented gross of associated collateral held, are of weaker credit quality but have not
significantly deteriorated since origination.
IFRS 9 Stage 1 and Stage 2 classification is not dependent solely on the absolute probability of default but on elements that
determine a significant increase in credit risk, including relative movement in probability of default since initial recognition.
There is therefore no direct relationship between credit quality and IFRS 9 stage classification.
Credit risk profile by internal PD grade for retail mortgages (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
—
—
—
—
—
—
—
—
—
—
4-5
0.05 to <0.15%
Strong
—
—
—
—
—
—
—
—
—
—
6-8
0.15 to <0.30%
Strong
7
—
—
7
—
—
—
—
7
—
9-11
0.30 to <0.60%
Strong
4,664
—
—
4,664
9
—
—
9
4,655
0.2
12-14
0.60 to <2.15%
Satisfactory
2
1
—
3
—
—
—
—
3
—
15-19
2.15 to <11.35%
Satisfactory
1
134
—
135
—
—
—
—
135
—
20-21
11.35 to <100%
Higher Risk
—
1
—
1
—
—
—
—
1
—
22
100%
Credit Impaired
—
—
175
175
—
—
24
24
151
13.7
Total
4,674
136
175
4,985
9
—
24
33
4,952
0.7
Credit risk profile by internal PD grade for retail credit cards3 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
1,216
37
—
1,253
40
23
—
63
1,190
5.0
4-5
0.05 to <0.15%
Strong
580
—
—
580
1
—
—
1
579
0.2
6-8
0.15 to <0.30%
Strong
1,468
—
—
1,468
3
—
—
3
1,465
0.2
9-11
0.30 to <0.60%
Strong
2,710
1
—
2,711
12
—
—
12
2,699
0.4
12-14
0.60 to <2.15%
Satisfactory
6,091
42
—
6,133
74
4
—
78
6,055
1.3
15-19
2.15 to <11.35%
Satisfactory
6,414
1,099
—
7,513
231
196
—
427
7,086
5.7
20-21
11.35 to <100%
Higher Risk
322
1,357
—
1,679
34
573
—
607
1,072
36.2
22
100%
Credit Impaired
—
—
1,776
1,776
—
—
1,395
1,395
381
78.5
Total
18,801
2,536
1,776
23,113
395
796
1,395
2,586
20,527
11.2
Credit risk profile by internal PD grade for retail other (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
—
—
—
—
—
—
—
—
—
—
4-5
0.05 to <0.15%
Strong
12
—
—
12
—
—
—
—
12
—
6-8
0.15 to <0.30%
Strong
33
—
—
33
—
—
—
—
33
—
9-11
0.30 to <0.60%
Strong
3,564
—
—
3,564
4
—
—
4
3,560
0.1
12-14
0.60 to <2.15%
Satisfactory
109
2
—
111
2
—
—
2
109
1.8
15-19
2.15 to <11.35%
Satisfactory
69
249
—
318
1
2
—
3
315
0.9
20-21
11.35 to <100%
Higher Risk
1
14
—
15
—
3
—
3
12
20.0
22
100%
Credit Impaired
—
—
107
107
—
—
20
20
87
18.7
Total
3,788
265
107
4,160
7
5
20
32
4,128
0.8
Credit risk profile by internal PD grade for corporate loans3 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
43,832
403
—
44,235
4
5
—
9
44,226
—
4-5
0.05 to <0.15%
Strong
23,738
40
—
23,778
6
—
—
6
23,772
—
6-8
0.15 to <0.30%
Strong
13,854
394
—
14,248
12
4
—
16
14,232
0.1
9-11
0.30 to <0.60%
Strong
15,915
551
—
16,466
27
1
—
28
16,438
0.2
12-14
0.60 to <2.15%
Satisfactory
12,160
2,725
—
14,885
47
30
—
77
14,808
0.5
15-19
2.15 to <11.35%
Satisfactory
2,020
2,411
—
4,431
40
70
—
110
4,321
2.5
20-21
11.35 to <100%
Higher Risk
110
1,632
—
1,742
5
125
—
130
1,612
7.5
22
100%
Credit Impaired
—
—
2,360
2,360
—
—
590
590
1,770
25.0
Total
111,629
8,156
2,360
122,145
141
235
590
966
121,179
0.8
Credit risk profile by internal PD grade for loans and advances at amortised cost3 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
45,048
440
—
45,488
44
28
—
72
45,416
0.2
4-5
0.05 to <0.15%
Strong
24,330
40
—
24,370
7
—
—
7
24,363
—
6-8
0.15 to <0.30%
Strong
15,362
394
—
15,756
15
4
—
19
15,737
0.1
9-11
0.30 to <0.60%
Strong
26,853
552
—
27,405
52
1
—
53
27,352
0.2
12-14
0.60 to <2.15%
Satisfactory
18,362
2,770
—
21,132
123
34
—
157
20,975
0.7
15-19
2.15 to <11.35%
Satisfactory
8,504
3,893
—
12,397
272
268
—
540
11,857
4.4
20-21
11.35 to <100%
Higher Risk
433
3,004
—
3,437
39
701
—
740
2,697
21.5
22
100%
Credit Impaired
—
—
4,418
4,418
—
—
2,029
2,029
2,389
45.9
Total
138,892
11,093
4,418
154,403
552
1,036
2,029
3,617
150,786
2.3
Credit risk profile by internal PD grade for retail mortgages (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
—
—
—
—
—
—
—
—
—
—
4-5
0.05 to <0.15%
Strong
4
—
—
4
—
—
—
—
4
—
6-8
0.15 to <0.30%
Strong
2
—
—
2
—
—
—
—
2
—
9-11
0.30 to <0.60%
Strong
4,526
—
—
4,526
8
—
—
8
4,518
0.2
12-14
0.60 to <2.15%
Satisfactory
4
1
—
5
—
—
—
—
5
—
15-19
2.15 to <11.35%
Satisfactory
1
148
—
149
—
1
—
1
148
0.7
20-21
11.35 to <100%
Higher Risk
—
1
—
1
—
—
—
—
1
—
22
100%
Credit Impaired
—
—
310
310
—
—
32
32
278
10.3
Total
4,537
150
310
4,997
8
1
32
41
4,956
0.8
Credit risk profile by internal PD grade for retail credit cards3 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
1
—
—
1
—
—
—
—
1
—
4-5
0.05 to <0.15%
Strong
565
—
—
565
1
—
—
1
564
0.2
6-8
0.15 to <0.30%
Strong
2,562
2
—
2,564
7
—
—
7
2,557
0.3
9-11
0.30 to <0.60%
Strong
4,384
4
—
4,388
22
—
—
22
4,366
0.5
12-14
0.60 to <2.15%
Satisfactory
2,905
117
—
3,022
37
9
—
46
2,976
1.5
15-19
2.15 to <11.35%
Satisfactory
7,018
1,578
—
8,596
242
267
—
509
8,087
5.9
20-21
11.35 to <100%
Higher Risk
194
1,252
—
1,446
25
531
—
556
890
38.5
22
100%
Credit Impaired
—
—
1,724
1,724
—
—
1,416
1,416
308
82.1
Total
17,629
2,953
1,724
22,306
334
807
1,416
2,557
19,749
11.5
Credit risk profile by internal PD grade for retail other (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
—
—
—
—
—
—
—
—
—
—
4-5
0.05 to <0.15%
Strong
6
—
—
6
—
—
—
—
6
—
6-8
0.15 to <0.30%
Strong
17
—
—
17
—
—
—
—
17
—
9-11
0.30 to <0.60%
Strong
3,199
—
—
3,199
5
—
—
5
3,194
0.2
12-14
0.60 to <2.15%
Satisfactory
65
1
—
66
—
—
—
—
66
—
15-19
2.15 to <11.35%
Satisfactory
41
396
—
437
—
—
—
—
437
—
20-21
11.35 to <100%
Higher Risk
1
7
—
8
—
1
—
1
7
12.5
22
100%
Credit Impaired
—
—
216
216
—
—
25
25
191
11.6
Total
3,329
404
216
3,949
5
1
25
31
3,918
0.8
Credit risk profile by internal PD grade for corporate loans3 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
Grade
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
43,318
122
3
43,443
4
—
2
6
43,437
—
4-5
0.05 to <0.15%
Strong
21,947
145
—
22,092
8
—
—
8
22,084
—
6-8
0.15 to <0.30%
Strong
11,392
566
—
11,958
8
2
—
10
11,948
0.1
9-11
0.30 to <0.60%
Strong
15,549
326
—
15,875
18
2
—
20
15,855
0.1
12-14
0.60 to <2.15%
Satisfactory
12,017
2,988
—
15,005
49
20
—
69
14,936
0.5
15-19
2.15 to <11.35%
Satisfactory
2,854
2,243
—
5,097
50
90
—
140
4,957
2.7
20-21
11.35 to <100%
Higher Risk
117
1,757
—
1,874
7
140
—
147
1,727
7.8
22
100%
Credit Impaired
—
—
1,651
1,651
—
—
391
391
1,260
23.7
Total
107,194
8,147
1,654
116,995
144
254
393
791
116,204
0.7
Credit risk profile by internal PD grade for loans and advances at amortised cost3 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
Grade
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
43,319
122
3
43,444
4
—
2
6
43,438
—
4-5
0.05 to <0.15%
Strong
22,522
145
—
22,667
9
—
—
9
22,658
—
6-8
0.15 to <0.30%
Strong
13,973
568
—
14,541
15
2
—
17
14,524
0.1
9-11
0.30 to <0.60%
Strong
27,658
330
—
27,988
53
2
—
55
27,933
0.2
12-14
0.60 to <2.15%
Satisfactory
14,991
3,107
—
18,098
86
29
—
115
17,983
0.6
15-19
2.15 to <11.35%
Satisfactory
9,914
4,365
—
14,279
292
358
—
650
13,629
4.6
20-21
11.35 to <100%
Higher Risk
312
3,017
—
3,329
32
672
—
704
2,625
21.1
22
100%
Credit Impaired
—
—
3,901
3,901
—
—
1,864
1,864
2,037
47.8
Total
132,689
11,654
3,904
148,247
491
1,063
1,866
3,420
144,827
2.3
Credit risk profile by internal PD grade for contingent liabilities1 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
Grade
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
10,096
—
—
10,096
1
—
—
1
10,095
—
4-5
0.05 to <0.15%
Strong
3,920
178
—
4,098
2
—
—
2
4,096
—
6-8
0.15 to <0.30%
Strong
3,645
5
—
3,650
2
—
—
2
3,648
0.1
9-11
0.30 to <0.60%
Strong
2,025
92
—
2,117
3
—
—
3
2,114
0.1
12-14
0.60 to <2.15%
Satisfactory
2,773
230
—
3,003
12
3
—
15
2,988
0.5
15-19
2.15 to <11.35%
Satisfactory
1,163
690
—
1,853
15
16
—
31
1,822
1.7
20-21
11.35 to <100%
Higher Risk
85
710
—
795
1
83
—
84
711
10.6
22
100%
Credit Impaired
—
—
116
116
—
—
23
23
93
19.8
Total
23,707
1,905
116
25,728
36
102
23
161
25,567
0.6
Credit risk profile by internal PD grade for contingent liabilities1 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
9,351
310
—
9,661
1
1
—
2
9,659
—
4-5
0.05 to <0.15%
Strong
4,934
—
—
4,934
2
—
—
2
4,932
—
6-8
0.15 to <0.30%
Strong
2,717
391
—
3,108
2
—
—
2
3,106
0.1
9-11
0.30 to <0.60%
Strong
2,177
119
—
2,296
4
—
—
4
2,292
0.2
12-14
0.60 to <2.15%
Satisfactory
2,309
563
—
2,872
12
7
—
19
2,853
0.7
15-19
2.15 to <11.35%
Satisfactory
730
937
—
1,667
21
36
—
57
1,610
3.4
20-21
11.35 to <100%
Higher Risk
29
515
—
544
—
82
—
82
462
15.1
22
100%
Credit Impaired
—
—
495
495
—
—
16
16
479
3.2
Total
22,247
2,835
495
25,577
42
126
16
184
25,393
0.7
Credit risk profile by internal PD grade for loan commitments1,2 (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to < 0.05%
Strong
90,723
204
—
90,927
4
—
—
4
90,923
—
4-5
0.05 to < 0.15%
Strong
75,414
776
—
76,190
6
—
—
6
76,184
—
6-8
0.15 to < 0.30%
Strong
50,189
656
—
50,845
6
—
—
6
50,839
—
9-11
0.30 to < 0.60%
Strong
49,560
494
—
50,054
7
—
—
7
50,047
—
12-14
0.60 to < 2.15%
Satisfactory
41,798
2,402
—
44,200
34
27
—
61
44,139
0.1
15-19
2.15 to < 11.35%
Satisfactory
12,874
4,418
—
17,292
35
40
—
75
17,217
0.4
20-21
11.35 to < 100%
Higher Risk
560
3,463
—
4,023
3
65
—
68
3,955
1.7
22
100%
Credit Impaired
—
—
565
565
—
—
10
10
555
1.8
Total
321,118
12,413
565
334,096
95
132
10
237
333,859
0.1
Credit risk profile by internal PD grade for loan commitments1,2 (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to < 0.05%
Strong
86,137
320
—
86,457
3
—
—
3
86,454
—
4-5
0.05 to < 0.15%
Strong
68,407
93
—
68,500
8
—
—
8
68,492
—
6-8
0.15 to < 0.30%
Strong
56,893
951
—
57,844
12
1
—
13
57,831
—
9-11
0.30 to < 0.60%
Strong
54,576
736
—
55,312
19
1
—
20
55,292
—
12-14
0.60 to < 2.15%
Satisfactory
45,417
2,710
—
48,127
31
11
—
42
48,085
0.1
15-19
2.15 to < 11.35%
Satisfactory
11,878
5,779
—
17,657
39
45
—
84
17,573
0.5
20-21
11.35 to < 100%
Higher Risk
643
3,406
—
4,049
1
56
—
57
3,992
1.4
22
100%
Credit Impaired
—
—
481
481
—
—
9
9
472
1.9
Total
323,951
13,995
481
338,427
113
114
9
236
338,191
0.1
Notes
1Excludes loan commitments and financial guarantees carried at fair value of £22.2bn (2024: £16.3bn) for Barclays Bank Group.
2Reported loan commitments also include exposures relating to financial assets classified as assets held for sale.
3Exposures reported within Retail credit card and Corporate loans does not include a co-branded card portfolio which is classified as assets held
for sale.
Loans and advances by product
Loans and advances to customers classified as assets held for sale (audited)
Stage 1
Stage 2
Stage 3
Total
Gross
ECL
Coverage
Gross
ECL
Coverage
Gross
ECL
Coverage
Gross
ECL
Coverage
As at 31 December 2025
£m
£m
%
£m
£m
%
£m
£m
%
£m
£m
%
Retail credit cards - US
5,468
65
1.2
466
124
26.6
54
44
81.5
5,988
233
3.9
Retail credit cards -
Germany
—
—
—
—
—
—
—
—
—
—
—
—
Retail other - Germany
—
—
—
—
—
—
—
—
—
—
—
—
Corporate loans - US
43
1
2.3
6
2
33.3
—
—
—
49
3
6.1
Total
5,511
66
1.2
472
126
26.7
54
44
81.5
6,037
236
3.9
As at 31 December 2024
Retail credit cards - US
5,495
64
1.2
689
161
23.4
57
46
80.7
6,241
271
4.3
Retail credit cards -
Germany
1,908
18
0.9
307
29
9.4
93
69
74.2
2,308
116
5.0
Retail other - Germany
1,134
16
1.4
220
33
15.0
71
48
67.6
1,425
97
6.8
Corporate loans - US
49
1
2.0
9
3
33.3
1
1
100.0
59
5
8.5
Total
8,586
99
1.2
1,225
226
18.4
222
164
73.9
10,033
489
4.9
Management adjustments to models for impairment allowance presented by product (audited)
Barclays Bank Group
Impairment
allowance pre
management
adjustments
Economic
uncertainty
adjustments1
(a)
Other
adjustments
(b)
Management 
adjustments
(a+b)
Total
impairment
allowance
Proportion of
Management
adjustments to
total
impairment
allowance
As at 31 December 2025
£m
£m
£m
£m
£m
%
Retail credit cards - US
232
5
—
5
237
2.1
Retail credit cards - Germany
—
—
—
—
—
—
Retail other - Germany
—
—
—
—
—
—
Corporate loans - US
3
—
—
—
3
—
Total
235
5
—
5
240
2.1
As at 31 December 2024
£m
£m
£m
£m
£m
%
Retail credit cards - US
277
—
—
—
277
—
Retail credit cards - Germany
101
—
16
16
117
13.7
Retail other - Germany
80
—
17
17
97
17.5
Corporate loans - US
5
—
—
—
5
—
Total
463
—
33
33
496
6.7
Note
1 Reflects a Stage 2 adjustment for elevated US macroeconomic uncertainty; with impacts yet to materialise in consumer behaviour.
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - US (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
—
—
—
—
—
—
—
—
—
—
4-5
0.05 to <0.15%
Strong
165
—
—
165
—
—
—
—
165
—
6-8
0.15 to <0.30%
Strong
953
—
—
953
3
—
—
3
950
0.3
9-11
0.30 to <0.60%
Strong
1,351
1
—
1,352
6
—
—
6
1,346
0.4
12-14
0.60 to <2.15%
Satisfactory
1,795
5
—
1,800
18
—
—
18
1,782
1.0
15-19
2.15 to <11.35%
Satisfactory
1,149
226
—
1,375
34
35
—
69
1,306
5.0
20-21
11.35 to <100%
Higher Risk
55
234
—
289
4
89
—
93
196
32.2
22
100%
Credit Impaired
—
—
54
54
—
—
44
44
10
81.5
Total
5,468
466
54
5,988
65
124
44
233
5,755
3.9
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - Germany (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
—
—
—
—
—
—
—
—
—
—
4-5
0.05 to <0.15%
Strong
—
—
—
—
—
—
—
—
—
—
6-8
0.15 to <0.30%
Strong
—
—
—
—
—
—
—
—
—
—
9-11
0.30 to <0.60%
Strong
—
—
—
—
—
—
—
—
—
—
12-14
0.60 to <2.15%
Satisfactory
—
—
—
—
—
—
—
—
—
—
15-19
2.15 to <11.35%
Satisfactory
—
—
—
—
—
—
—
—
—
—
20-21
11.35 to <100%
Higher Risk
—
—
—
—
—
—
—
—
—
—
22
100%
Credit Impaired
—
—
—
—
—
—
—
—
—
—
Total
—
—
—
—
—
—
—
—
—
—
Credit risk profile by internal PD grade classified as assets held for sale for Retail other - Germany (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
—
—
—
—
—
—
—
—
—
—
4-5
0.05 to <0.15%
Strong
—
—
—
—
—
—
—
—
—
—
6-8
0.15 to <0.30%
Strong
—
—
—
—
—
—
—
—
—
—
9-11
0.30 to <0.60%
Strong
—
—
—
—
—
—
—
—
—
—
12-14
0.60 to <2.15%
Satisfactory
—
—
—
—
—
—
—
—
—
—
15-19
2.15 to <11.35%
Satisfactory
—
—
—
—
—
—
—
—
—
—
20-21
11.35 to <100%
Higher Risk
—
—
—
—
—
—
—
—
—
—
22
100%
Credit Impaired
—
—
—
—
—
—
—
—
—
—
Total
—
—
—
—
—
—
—
—
—
—
Credit risk profile by internal PD grade classified as assets held for sale for Corporate loans - US (audited)
As at 31 December 2025
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
—
—
—
—
—
—
—
—
—
—
4-5
0.05 to <0.15%
Strong
—
—
—
—
—
—
—
—
—
—
6-8
0.15 to <0.30%
Strong
—
—
—
—
—
—
—
—
—
—
9-11
0.30 to <0.60%
Strong
—
—
—
—
—
—
—
—
—
—
12-14
0.60 to <2.15%
Satisfactory
2
—
—
2
—
—
—
—
2
—
15-19
2.15 to <11.35%
Satisfactory
41
—
—
41
1
—
—
1
40
2.4
20-21
11.35 to <100%
Higher Risk
—
6
—
6
—
2
—
2
4
33.3
22
100%
Credit Impaired
—
—
—
—
—
—
—
—
—
—
Total
43
6
—
49
1
2
—
3
46
6.1
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - US (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
—
—
—
—
—
—
—
—
—
—
4-5
0.05 to <0.15%
Strong
—
—
—
—
—
—
—
—
—
—
6-8
0.15 to <0.30%
Strong
—
—
—
—
—
—
—
—
—
—
9-11
0.30 to <0.60%
Strong
—
—
—
—
—
—
—
—
—
—
12-14
0.60 to <2.15%
Satisfactory
5,495
—
—
5,495
64
—
—
64
5,431
1.2
15-19
2.15 to <11.35%
Satisfactory
—
689
—
689
—
161
—
161
528
23.4
20-21
11.35 to <100%
Higher Risk
—
—
—
—
—
—
—
—
—
—
22
100%
Credit Impaired
—
—
57
57
—
—
46
46
11
80.7
Total
5,495
689
57
6,241
64
161
46
271
5,970
4.3
Credit risk profile by internal PD grade classified as assets held for sale for Retail credit cards - Germany (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
62
—
—
62
—
—
—
—
62
—
4-5
0.05 to <0.15%
Strong
289
—
—
289
1
—
—
1
288
0.3
6-8
0.15 to <0.30%
Strong
152
—
—
152
1
—
—
1
151
0.7
9-11
0.30 to <0.60%
Strong
250
—
—
250
1
—
—
1
249
0.4
12-14
0.60 to <2.15%
Satisfactory
928
5
—
933
9
—
—
9
924
1.0
15-19
2.15 to <11.35%
Satisfactory
227
229
—
456
6
15
—
21
435
4.6
20-21
11.35 to <100%
Higher Risk
—
73
—
73
—
14
—
14
59
19.2
22
100%
Credit Impaired
—
—
93
93
—
—
69
69
24
74.2
Total
1,908
307
93
2,308
18
29
69
116
2,192
5.0
Credit risk profile by internal PD grade classified as assets held for sale for Retail other - Germany (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
1
—
—
1
—
—
—
—
1
—
4-5
0.05 to <0.15%
Strong
25
—
—
25
—
—
—
—
25
—
6-8
0.15 to <0.30%
Strong
110
—
—
110
—
—
—
—
110
—
9-11
0.30 to <0.60%
Strong
294
—
—
294
1
—
—
1
293
0.3
12-14
0.60 to <2.15%
Satisfactory
534
17
—
551
6
4
—
10
541
1.8
15-19
2.15 to <11.35%
Satisfactory
170
182
—
352
9
22
—
31
321
8.8
20-21
11.35 to <100%
Higher Risk
—
21
—
21
—
7
—
7
14
33.3
22
100%
Credit Impaired
—
—
71
71
—
—
48
48
23
67.6
Total
1,134
220
71
1,425
16
33
48
97
1,328
6.8
Credit risk profile by internal PD grade classified as assets held for sale for Corporate loans - US (audited)
As at 31 December 2024
Gross carrying amount
Allowance for ECL
Net
exposure
Coverage
ratio
PD range
Credit quality
description
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 3
Total
Grade
%
£m
£m
£m
£m
£m
£m
£m
£m
£m
%
Barclays Bank Group
1-3
0.0 to <0.05%
Strong
—
—
—
—
—
—
—
—
—
—
4-5
0.05 to <0.15%
Strong
—
—
—
—
—
—
—
—
—
—
6-8
0.15 to <0.30%
Strong
—
—
—
—
—
—
—
—
—
—
9-11
0.30 to <0.60%
Strong
—
—
—
—
—
—
—
—
—
—
12-14
0.60 to <2.15%
Satisfactory
49
—
—
49
1
—
—
1
48
2.0
15-19
2.15 to <11.35%
Satisfactory
—
9
—
9
—
3
—
3
6
33.3
20-21
11.35 to <100%
Higher Risk
—
—
—
—
—
—
—
—
—
—
22
100%
Credit Impaired
—
—
1
1
—
—
1
1
—
100.0
Total
49
9
1
59
1
3
1
5
54
8.5
The daily average, high and low values of management VaR
Management VaR (95%, one day) (audited)
2025
2024
For the year ended 31 December
2025
Average
High
Low
Average
High
Low
£m
£m
£m
£m
£m
£m
Credit risk
15
21
11
21
27
17
Interest rate risk
15
25
5
15
25
6
Equity risk
7
14
4
6
12
2
Basis risk
6
9
4
5
8
4
Spread risk
5
7
3
5
7
3
Foreign exchange risk
4
7
2
4
9
2
Commodity risk
—
1
—
—
1
—
Inflation risk
5
8
3
4
5
2
Diversification effect1
(39)
n/a
n/a
(34)
n/a
n/a
Total management VaR
18
31
9
26
36
15
Note
1Diversification effects recognise that forecast losses from different assets or businesses are unlikely to occur concurrently, hence the expected
aggregate loss is lower than the sum of the expected losses from each area. Historical correlations between losses are taken into account in
making these assessments. The high and low VaR figures reported for each category did not necessarily occur on the same day as the high and
low VaR reported as a whole. Consequently, a diversification effect balance for the high and low VaR figures would not be meaningful and is
therefore omitted from the above table.
The table below provides detail on the contractual maturity of all financial instruments and other assets and liabilities.
Derivatives (other than those designated in a hedging relationship) and trading portfolio assets and liabilities are included in
the ‘not more than one month’ column at their fair value. Liquidity risk on these items is not managed on the basis of
contractual maturity since these items are not held for settlement according to such maturity and will frequently be settled
before contractual maturity at fair value. Derivatives designated in a hedging relationship are included according to their
contractual maturity.
Open-dated financial assets and liabilities are included within 'not more than one month' due to the availability of
withdrawals or redemptions at any time, without notice.
Contractual maturity of financial assets and liabilities (audited)
Barclays Bank Group
Not more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six
months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five
years
Total
As at 31 December 2025
£m
£m
£m
£m
£m
£m
£m
£m
Assets
Cash and balances at central banks
208,544
—
—
—
—
—
—
208,544
Cash collateral and settlement balances
81,419
43,100
—
—
—
—
—
124,519
Debt Securities at amortised cost
390
5,136
1,776
2,845
15,124
13,303
16,579
55,153
Loans and advances at amortised cost to
banks and customers
21,922
5,264
6,166
17,893
47,981
26,901
24,659
150,786
Reverse repurchase agreements and other
similar secured lending
10,866
338
520
406
1,971
2,816
745
17,662
Trading portfolio assets
189,743
—
—
—
—
—
—
189,743
Financial assets at fair value through the
income statement
145,326
13,635
4,503
4,130
10,756
3,639
3,013
185,002
Derivative financial instruments
250,286
144
201
227
959
302
73
252,192
Financial assets at fair value through other
comprehensive income
1,357
1,303
133
277
3,527
11,748
24,473
42,818
Assets included in disposal groups classified
as held for sale
—
—
5,932
—
—
—
—
5,932
Other financial assets
379
41
198
1
5
—
—
624
Total financial assets
910,232
68,961
19,429
25,779
80,323
58,709
69,542
1,232,975
Other assets
12,498
Total assets
1,245,473
Liabilities
Deposits at amortised cost from bank and
customers
255,232
35,395
31,417
18,639
3,204
543
321
344,751
Cash collateral and settlement balances
84,062
32,749
—
—
—
—
—
116,811
Repurchase agreements and other similar
secured borrowing
8,790
4,507
321
626
4,407
—
—
18,651
Debt securities in issue
2,387
10,732
22,206
13,052
2,063
2,263
4,526
57,229
Subordinated liabilities
1,356
—
1,015
400
12,266
8,265
21,937
45,239
Trading portfolio liabilities
56,829
—
—
—
—
—
—
56,829
Financial liabilities designated at fair value
161,887
30,221
16,489
14,172
31,398
19,691
19,669
293,527
Derivative financial instruments
240,179
22
53
13
206
83
201
240,757
Liabilities included in disposal groups
classified as held for sale
—
—
—
—
—
—
—
—
Other financial liabilities
4,283
3
9
19
76
55
453
4,898
Total financial liabilities
815,005
113,629
71,510
46,921
53,620
30,900
47,107
1,178,692
Other liabilities
4,468
Total liabilities
1,183,160
Contractual maturity of financial assets and liabilities (audited)
Barclays Bank Group
Not more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six
months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five
years
Total
As at 31 December 2024
£m
£m
£m
£m
£m
£m
£m
£m
Assets
Cash and balances at central banks
180,365
—
—
—
—
—
—
180,365
Cash collateral and settlement balances
76,805
37,182
—
—
—
—
—
113,987
Debt securities at amortised cost
233
352
1,710
1,194
15,393
11,921
19,424
50,227
Loans and advances at amortised cost to
banks and customers
22,523
5,207
7,067
16,544
45,701
22,641
25,144
144,827
Reverse repurchase agreements and other
similar secured lending
299
37
292
110
1,675
980
—
3,393
Trading portfolio assets
166,244
—
—
—
—
—
—
166,244
Financial assets at fair value through the
income statement
152,022
11,628
4,467
4,471
10,082
6,099
3,076
191,845
Derivative financial instruments
291,580
19
333
—
268
23
133
292,356
Financial assets at fair value through other
comprehensive income
1,421
1,002
110
233
5,747
12,147
30,350
51,010
Assets included in disposal groups classified
as held for sale
—
3,710
—
—
6,144
—
—
9,854
Other financial assets
499
22
126
17
1
—
—
665
Total financial assets
891,991
59,159
14,105
22,569
85,011
53,811
78,127
1,204,773
Other assets
13,751
Total assets
1,218,524
Liabilities
Deposits at amortised cost from banks and
customers
240,546
33,576
27,124
12,752
3,481
1,296
601
319,376
Cash collateral and settlement balances
75,019
29,608
—
—
—
—
—
104,627
Repurchase agreements and other similar
secured borrowing
18,522
1,823
84
3,931
3,702
1,335
—
29,397
Debt securities in issue
2,912
15,264
5,859
3,469
713
2,164
5,422
35,803
Subordinated liabilities
—
818
75
80
11,431
6,444
23,027
41,875
Trading portfolio liabilities
56,182
—
—
—
—
—
—
56,182
Financial liabilities designated at fair value
156,917
23,502
16,742
15,331
28,332
19,087
19,866
279,777
Derivative financial instruments
278,657
27
18
—
185
255
189
279,331
Liabilities included in disposal groups
classified as held for sale
—
3,726
—
—
—
—
—
3,726
Other financial liabilities
4,333
4
9
19
71
40
392
4,868
Total financial liabilities
833,088
108,348
49,911
35,582
47,915
30,621
49,497
1,154,962
Other liabilities
4,342
Total liabilities
1,159,304
Contractual maturity of financial liabilities on an undiscounted basis
The following table presents the cash flows payable by the Barclays Bank Group under financial liabilities by remaining
contractual maturities at the balance sheet date. The amounts disclosed in the table are the contractual undiscounted cash
flows of all financial liabilities (i.e. nominal values).
The balances in the below table do not agree directly to the balances in the consolidated balance sheet as the table
incorporates all cash flows, on an undiscounted basis, related to both principal as well as those associated with all future
coupon payments.
Derivative financial instruments held for trading and trading portfolio liabilities are included in the 'not more than one month'
column at their fair value. Open-dated financial liabilities are also included within 'not more than one month'.
Contractual maturity of financial liabilities - undiscounted (audited)
Not  more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six
months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five
years
Total
Barclays Bank Group
£m
£m
£m
£m
£m
£m
£m
£m
As at 31 December 2025
Deposits at amortised cost from banks and
customers
255,034
35,765
31,757
19,049
3,422
614
579
346,220
Cash collateral and settlement balances
84,076
32,910
—
—
—
—
295
117,281
Repurchase agreements and other similar
secured borrowing
8,801
4,520
322
637
4,562
—
—
18,842
Debt securities in issue
2,393
10,789
22,489
13,366
2,243
2,573
7,618
61,471
Subordinated liabilities
1,358
—
1,025
418
12,727
9,210
33,626
58,364
Trading portfolio liabilities
56,829
—
—
—
—
—
—
56,829
Financial liabilities designated at fair value
161,975
30,387
16,677
14,449
32,838
21,670
32,683
310,679
Derivative financial instruments
240,179
23
54
13
223
94
398
240,984
Liabilities included in disposal groups
classified as held for sale
—
—
—
—
—
—
—
—
Other financial liabilities
4,284
8
16
35
134
108
3,513
8,098
Total financial liabilities
814,929
114,402
72,340
47,967
56,149
34,269
78,712
1,218,768
As at 31 December 2024
Deposits at amortised cost from banks and
customers
240,695
33,769
27,410
13,059
3,687
1,531
762
320,913
Cash collateral and settlement balances
75,021
29,780
—
—
—
—
—
104,801
Repurchase agreements and other similar
secured borrowing
18,542
1,832
84
4,065
3,892
1,508
—
29,923
Debt securities in issue
2,920
15,360
5,930
3,579
745
2,558
8,714
39,806
Subordinated liabilities
—
824
75
80
11,955
7,036
34,922
54,892
Trading portfolio liabilities
56,182
—
—
—
—
—
—
56,182
Financial liabilities designated at fair value
157,090
23,676
16,971
15,713
30,014
21,471
34,087
299,022
Derivative financial instruments
278,662
27
18
—
197
298
402
279,604
Liabilities included in disposal groups
classified as held for sale
—
3,726
—
—
—
—
—
3,726
Other financial liabilities
4,335
10
18
35
127
86
3,680
8,291
Total financial liabilities
833,447
109,004
50,506
36,531
50,617
34,488
82,567
1,197,160
Maturity of off-balance sheet commitments given
The table below presents the maturity split of the Barclays Bank Group’s off-balance sheet commitments given at the
balance sheet date. The amounts disclosed in the table are the undiscounted cash flows (i.e. nominal values) on the basis of
earliest opportunity at which they are available.
Maturity analysis of off-balance sheet commitments given (audited)
Not more
than one
month
Over one
month but
not more
than three
months
Over three
months
but not
more than
six months
Over six
months
but not
more than
one year
Over one
year but
not more
than three
years
Over three
years but
not more
than five
years
Over five 
years
Total
Barclays Bank Group
£m
£m
£m
£m
£m
£m
£m
£m
As at 31 December 2025
Contingent liabilities and financial
guarantees
26,631
—
1
1
—
—
—
26,633
Documentary credits and other short-term
trade related transactions
1,103
—
—
—
—
—
—
1,103
Standby facilities, credit lines and other
commitments1
354,202
—
—
—
63
17
3
354,285
Total off-balance sheet commitments
given
381,936
—
1
1
63
17
3
382,021
As at 31 December 2024
Contingent liabilities and financial
guarantees
26,541
22
1
1
—
—
—
26,565
Documentary credits and other short-term
trade related transactions
1,432
1
—
—
—
—
—
1,433
Standby facilities, credit lines and other
commitments1
352,276
—
—
—
68
—
—
352,344
Total off-balance sheet commitments
given
380,249
23
1
1
68
—
—
380,342
Note
1. Includes exposures relating to financial assets classified as assets held for sale.
Foreign exchange risk (audited)
The Barclays Bank Group is exposed to two sources of foreign exchange risk.
Transactional foreign currency exposure
Transactional foreign currency exposures represent exposures on banking assets and liabilities, denominated in currencies
other than the functional currency of the transacting entity.
The Barclays Bank Group’s risk management policies are designed to prevent the holding of significant open positions in
foreign currencies outside the trading portfolio which is monitored through VaR.
Banking book transactional foreign exchange risk is monitored on a daily basis by the market risk function and minimised by
the businesses.
Translational foreign exchange exposure
The Barclays Bank Group's investments in overseas subsidiaries and branches create capital resources denominated in
foreign currencies, principally USD and EUR. Changes in the GBP value of the net investments due to foreign currency
movements are captured in the currency translation reserve, resulting in a movement in shareholders’ equity.
Functional currency of operations (audited)
Foreign
currency net
investments
Borrowings
which hedge
the net
investments
Derivatives
which hedge
the net
investments
Structural
currency
exposures
pre- economic
hedges
Other Equity
instruments
Remaining
structural
currency
exposures
£m
£m
£m
£m
£m
£m
As at 31 December 2025
USD
25,531
(2,914)
(2,141)
20,476
(5,450)
15,026
EUR
10,195
(3,018)
—
7,177
(1,310)
5,867
INR
1,486
—
(1,260)
226
—
226
JPY
544
(177)
—
367
—
367
Other
2,007
—
(918)
1,089
(1,127)
(38)
Total
39,763
(6,109)
(4,319)
29,335
(7,887)
21,448
As at 31 December 2024
USD
27,742
(4,644)
(2,229)
20,868
(5,846)
15,023
EUR
9,559
(2,729)
—
6,830
(265)
6,565
INR
1,400
—
(992)
408
—
408
JPY
628
(215)
—
413
—
413
Other
2,037
—
(792)
1,245
(849)
396
Total
41,366
(7,588)
(4,013)
29,764
(6,960)
22,805
Other equity instruments relate to exposures arising on foreign currency denominated preference share and AT1
instruments. These instruments are accounted for at historical cost under IFRS and do not qualify as hedges for accounting
purposes. The gain or loss arising from changes in the GBP value of these instruments is recognised on redemption in
retained earnings.
During 2025, total structural currency exposure net of hedging instruments decreased by £1.4bn to £21.4bn (2024:
£22.8bn). Foreign currency net investments decreased by £1.6bn to £39.8bn (2024: £41.4bn) driven predominantly by a
£2.2bn decrease in US dollars offset by £0.6bn increase in Euro. The hedges associated with these foreign currency
investments decreased by £1.2bn to £10.4bn (2024: £11.6bn).
Net interest income sensitivity
The table below shows a sensitivity analysis on pre-tax net interest income for non-traded financial assets and liabilities,
including the effect of any hedging. This analysis is not a forward guidance on NII and is intended as a quantification of risk
exposure utilising the Net Interest Income (NII) metric as described on page 178 of the Barclays PLC Pillar 3 Report 2025
(unaudited), which includes documentation of the main model assumptions.
Net Interest Income sensitivity (AEaR) by currency (audited)
2025
2024
+25 basis
points
-25 basis
points
+25 basis
points
-25 basis
points
Barclays Bank Group
£m
£m
£m
£m
GBP
4
(6)
27
(28)
USD
(41)
41
(29)
29
EUR
(5)
4
(6)
6
Other currencies
9
(8)
(3)
3
Total
(33)
31
(11)
10
Analysis of equity sensitivity (audited)
31 December 2025
31 December 2024
+25 basis
points
-25 basis
points
+25 basis
points
-25 basis
points
Barclays Bank Group
£m
£m
£m
£m
Net interest income
(33)
31
(11)
10
Taxation effects on the above
8
(8)
2
(2)
Effect on profit for the year
(25)
23
(9)
8
As percentage of net profit after tax
(0.5%)
0.5%
(0.2%)
0.2%
Effect on profit for the year (per above)
(25)
23
(9)
8
Fair value through other comprehensive income reserve
(186)
193
(193)
200
Cash flow hedge reserve
(823)
823
(588)
588
Taxation effects on the above
283
(284)
219
(221)
Effect on equity
(751)
755
(571)
575
As percentage of equity
(1.2%)
1.2%
(1.0%)
1.0%