Barclays Bank PLC Barclays Bank PLC Group ring-fencing update (6845F)

TIDM96ES

RNS Number : 6845F

Barclays Bank PLC

22 February 2018

Barclays Bank PLC

Barclays Bank PLC Group ring-fencing update

As a result of regulatory reforms implemented by the UK government, intended to strengthen the UK financial system following the financial crisis that began in 2008, Barclays intends to establish a ring-fenced bank, Barclays Bank UK PLC, which will be separate from Barclays Bank PLC, to comply with the terms of the UK ring-fencing regime. The two entities will operate alongside, but independently from, one another as part of the Barclays PLC group. The establishment of the ring-fenced bank is currently expected to take place in April 2018, subject to the PRA's approval, Court approval and management discretion. Further details regarding Barclays' plans for ring-fencing (including the Scheme Document and Scheme Report) can be found at the following link: https://www.home.barclays/about-barclays/ring-fencing-explained.html

Certain proposed disposals and acquisitions are required to establish the ring-fenced bank and Barclays Bank PLC has prepared illustrative unaudited pro forma financial information to depict the possible effect of the:

-- proposed disposals on the audited income statement of the Barclays Bank PLC group as if they had occurred on 1 January 2017 and on the audited balance sheet of the Barclays Bank PLC group as if they had occurred on 31 December 2017; and

-- proposed acquisitions on the unaudited income statement of the Barclays Bank UK PLC group as if they had occurred on 1 January 2017 and on the unaudited balance sheet of the Barclays Bank UK PLC group as if they had occurred on 31 December 2017.

The illustrative unaudited pro forma financial information is available from the Barclays website at the following link:

https://www.home.barclays/barclays-investor-relations/results-and-reports/annual-reports.html

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For further information, please contact:

 
 Investor Relations     Media Relations 
 Kathryn McLeland       Tom Hoskin 
 +44 (0) 20 7116 4943    +44 (0) 20 7116 6927

About Barclays

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 85,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com

INFORMATION REGARDING FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to the Barclays Group. These statements are based on the current beliefs and expectations of Barclays' management and are subject to significant risks and uncertainties. Actual outcomes may differ materially from those expressed in the forward-looking statements. Factors that could impact Barclays' future financial condition and performance are identified in our filings with the Securities and Exchange Commission ("SEC") (including, without limitation, our Annual Report on Form 20-F for the fiscal year ended 31 December 2017) which are available on the SEC's website (www.sec.gov). Subject to Barclays' obligations under the applicable laws and regulations of the United Kingdom and the United States in relation to disclosure and ongoing information, Barclays does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

No statement in this document is intended as a profit forecast and no statement in this document should be interpreted to mean that the earnings per share for the current or future years would necessarily match or exceed the historical published earnings per share.

This information is provided by RNS

The company news service from the London Stock Exchange

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