英国巴克莱银行(Barclays)市场前景及投资研究报告-培训课件外文版2024.6

COMPANIES

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PRODUCTSBarclaysGroupCHAPTER

01OverviewLeadingbanksinEurope2022,bytotalassets(inbillionU.S.dollars)LargestEuropeanbanks2022,byassetsTotalassetsinbillionU.S.dollars05001,0001,5002,0002,5003,0003,500HSBCHoldingsBNPParibas2,864.592,849.61CréditAgricoleBancoSantanderBarclays2,542.611,853.861,823.84UBSGroup1,679.361,636.351,588.991,428.65GroupeBPCESociétéGénéraleDeutscheBankCréditMutuelLloydsBankingGroupIntesaSanpaoloINGGroup1,180.221,057.691,042.731,034.32UniCreditNatWestGroup916.72867.593Description:Totalassetsisoneofthemainmeasuresofabank'sprosperity.Itisdefinedasallassetsownedbyabank.Thisincludes,butisnotlimitedto:cashandbalances,loansandadvancestobanksandcustomers,aswellasdebtsecurities.Asof2022,HSBCHoldingswastheleadingEuropeanbankintermsoftotalassets,withmorethan2.86trillioneuros.In2022,HSBCwasalsoamongthelargestbanksgloballyintermsofmarketcapitalization.ReadmoreNote(s):Europe;2022Source(s):S&PGlobalLeadingbanksinEuropeasofDecember31,2023,bymarketcapitalization(inbillionU.S.dollars)LeadingEuropeanbanks2023,bymarketcapitalizationMarketcapitalizationinbillionU.S.dollars020406080100120140160180HSBCHoldings(UK)UBS(Switzerland)156.1799.9BNPParibas(France)80.04BancoSantander(Spain)Sberbank(Russia)66.9465.01BancoBilbaoVizcayaArgentaria(Spain)IntesaSanpaolo(Italy)53.6553.35INGGroup(Netherlands)UniCredit(Italy)NordeaBank(Finland)CréditAgricole(France)LloydsBankingGroup(UK)CaixaBank(Spain)50.7546.0943.6743.1938.630.3729.8128.82Barclays(UK)SkandinaviskaEnskildaBanken(Sweden)4Description:AsofDecember31,2023,therewasonlyoneEuropeanbankwithamarketcapitalizationofover100billionU.S.dollars.TheUK-basedHSBChadamarketcapitalizationofroughly156.17billionU.S.dollars,byfarthehighestvalueinEurope.UBSrankedsecond,withamarketcapof99.9billionU.S.dollars.Despitesomefluctuationsduringthelastdecade,HSBChascontinuouslymaintainedtheꢀhighestmarketcapamongthelargestEuropeanbanks.ReadmoreNote(s):Europe;December31,2023Source(s):CompaniesMarketCMostvaluablebankingbrandsinEuropeasofFebruary2024(inbillionU.S.dollars)LeadingEuropeanbanks2024,bybrandvalueBrandvalueinbillionU.S.dollars1005152025HSBC(UK)Santander(Spain)Barclays(UK)20.0518.9113.29BNPParibas(France)UBS(Switzerland)ING(Netherlands)StandardChartered(UK)IntesaSanpaolo(Italy)Natwest(UK)12.2712.2210.028.047.997.3BBVA(Spain)7.21LloydsBank(UK)6.746.556.536.166.13Rabobank(Netherlands)CréditAgricole(France)CréditMutuel(France)KBC(Belgium)5Description:TheUK-basedHSBCtoppedthelistofthemostvaluablebankingbrandsin2024.HSBChadabrandvalueofover20billionU.SdollarsasofFebruary2024.SpanishSantanderrankedsecond,withabrandvalueof18.91billionU.S.dollars.AnotherUKbank,Barclaystookthirdplace,withabrandvalueof13.29billionU.S.dollars.Abrand'svaluecanhaveadirectcorrelationbetweenabrand'sstrengthanditsstandinginstockmarketperformance.HSBCnotonlytoppedtheEuropeanbankslist[...]

ReadmoreNote(s):Europe;February2024Source(s):BrandFinanceMostvaluablebankbrandsintheUnitedKingdom(UK)from2015to2024(inmillionU.S.dollars)MostvaluablebankbrandsintheUK2015-2024HSBCBarclaysStandardCharteredNatWestLloydsBank30,00025,00020,00015,00010,0005,000020152016201720182019202020212022202320246Description:HSBChaveconsistentlybeenthemostvaluablebrankintheUnitedKingdom(UK)intermsofbrandvaluefrom2015to2024.AsofFebruary2024,HSBChadabrandvalueofover20billionU.S.dollars.Barclaysfollowed,withabrandvalueofroughly13.3billionU.S.dollars.ReadmoreNote(s):UnitedKingdom;2015to2024Source(s):BrandFinanceCHAPTER

02KeyfinancialfiguresTotalassetsofBarclaysPLCfrom2010to2023(inbillionBritishpounds)TotalassetsofBarclays2010-20231,8001,588.71,6001,4001,2001,0008001,523.31,512.41,513.71,477.491,384.291,357.91,349.51,343.61,213.11,133.21,133.31,140.21,1206004002000201020112012201320142015201620172018201920202021202220238Description:ThetotalassetsofBarclaysPLCremainedpracticallythesameduringthelastdecade,primarilythankstothesharpincreaseinassetsin2022.Thevalueoftotalassetsofthebankpeakedin2011whenitwasaround1.6trillionBritishpounds.In2023,totalassetsdecreasedto1.48trillionBritishpounds,ascomparedtothepreviousyear.ReadmoreNote(s):Worldwide;2010to2023Source(s):BarclaysMarketcapitalizationofBarclaysPLCfrom2012to2023(inbillionU.S.dollars)MarketcapitalizationofBarclays2012-20238072.257062.52605040302010054.4951.9146.5546.5542.2840.7934.6932.7230.9429.812023201220132014201520162017201820192020202120229Description:ThemarketcapitalizationofBarclaysPLCdecreasedoverallinthelastdecade,withnotablefluctuations.Attheendof2023,themarketcapitalizationofBarclayswas29.81billionU.S.dollars,downfrom30.94billionU.S.dollarsayearearlier.

ReadmoreNote(s):Worldwide;2012to2022;ReferstoendofyearvalueSource(s):CompaniesMarketCGlobalgroupnetinterestincomeofBarclaysPLCfrom2010to2023(inmillionGBP)GlobalgroupnetinterestincomeofBarclays2010-202314,00012,52312,70912,20112,00010,0008,0006,0004,0002,000010,60810,53710,57210,0869,8459,4429,4579,4079,0628,1228,0732010201120122013201420152016201720182019202020212022202310Description:TheglobalgroupnetinterestincomeoftheBritishBarclaysgroupincreasedoverallbetween2014and2023,althoughwithseveraldropsalongtheway.In2014,thenetinterestincomeofthegroupreachedover10billionBritishpoundsanditremainedrelativelystableuntil2016.From2016,netinterestincomedecreasedmostyearsuntil2021,withaparticularlysharpdropin2020.In2021,netinterestincomedecreasedfurtherdown.However,sawasharpincreasewasobservedin[...]

ReadmoreNote(s):UnitedKingdom;2010to2023Source(s):BarclaysAdjustedprofitbeforetaxofBarclaysPLCfrom2010to2023(inmillionGBP)AdjustedprofitbeforetaxofBarclays2010-20239,0008,4148,0007,0006,0005,0004,0003,0002,0001,00007,5997,0126,5575,6415,4814,3573,5413,4943,23020163,06520201,87920131,31320141,146201520102011201220172018201920212022202311Description:TheglobaladjustedprofitbeforetaxofBarclaysgroupdecreasedbyaround450millionBritishpoundsbetween2022and2023.In2023,Barclaysgroup'sprofitbeforetaxesamountedtoroughly6.5billionBritishpounds,downfromsevenbillionBritishpoundsinthepreviousyear.The6.56billionpoundsreportedin2023wasstillhigh,comparedtotheyearsbefore2021.ReadmoreNote(s):UnitedKingdom;2010to2023Source(s):BarclaysCommonEquityTier1ratio(CET1)ofBarclaysPLCfrom2011to2023CET1ratioofBarclays2011-202316%15.1%15.1%13.9%13.8%13.8%14%12%10%8%13.3%13.2%13.2%12.4%11.4%11%10.8%10.3%6%4%2%0%201120122013201420152016201720182019202020212022202312Description:Afteryearsofincreasingtrend,theCommonEquityTier1ratio(CET1)fortheBarclaysPLCgroupdecreasedquitesignificantlyin2023.Between2014and2021,theCET1ratioofthebankinggroupincreasedfrom10.3percentto15.1percentbutthisupwardtrendgotinterruptedin2022,whentheratiofellto13.9percent.In2023,theratiostoodat13.8percent.ReadmoreNote(s):UnitedKingdom;2011to2023Source(s):BarclaysTotalvalueofBarclay'sdividendspaidtoshareholdersfrom2010to2023(inmillionGBP)TotalshareholderdividendvalueofBarclays2010-20231,4001,2001,2101,0811,0571,0281,0191,000859757800600400200073368066053151239202010201120122013201420152016201720182019202020212022202313Description:ThetotalvalueofBarclay'sdividendspaidtoshareholdersmorethandoubledbetween2021and2023.Thevalueofdividendspaidtothecompanyshareholdersamountedto1,210millionBritishpoundsin2023,upfrom512millionBritishpoundsin2021.In2020,nodividendswerepaid.ReadmoreNote(s):Worldwide;2010to2023Source(s):BarclaysCHAPTER

03SegmentsGlobalcorporateandinvestmentbankingincomeofBarclaysPLCfrom2011to2023(inmillionGBP)GlobalcorporateandinvestmentbankingincomeofBarclays2011-202316,00014,00013,36812,61012,47612,33412,00010,45010,53310,15110,2319,8789,76510,0008,0006,0004,0002,00009,1048,59610.22201120122013201420152016201720182019202020212022202315Description:TheglobalcorporateandinvestmentbankingincomeofBarclaysPLCgrewannuallybetween2017and2023.In2023,theincomeofBarclaysInternationalCorporateandInvestmentBankfellslightlyto12.6billionBritishpoundsfrom13.37billionBritishpoundsayearearlier.In2022,totalbankingincomewasthehighestincomeintheobservedperiod.ReadmoreNote(s):UnitedKingdom;2011to2023Source(s):BarclaysGlobalprofitbeforetaxforcorporateandinvestmentbankingatBarclaysPLCfrom2011to2023(inbillionGBP)GlobalprofitbeforetaxcorporateandinvestmentbankingBarclaysfrom2011to202365435.634.314.1342.962.652.592.552.422.322.062.021.79210201120122013201420152016201720182019202020212022202316Description:TheprofitbeforetaxofBarclays'corporateandinvestmentbankbusinesssegmentincreasedoverallbetween2014and2023,reaching4.1billionBritishpoundsby2023.Thiswasadecreaseofroughly180millionBritishpoundsincomparisonto2022,butprofitremainedwellabovethevaluesreportedpriorto2021.ReadmoreNote(s):Worldwide;2011to2023Source(s):BarclaysGlobalconsumer,cardsandpaymentsbankingincomeofBarclaysPLCfrom2012to2023(inmillionGBP)Consumer,cardsandpaymentsbankingdivisionincomeofBarclays2012-202310,0008,7239,0008,0007,0006,0005,0004,0003,0002,0001,00008,5795,3084,4624,5044,4444,4994,2613,44520203,29720153,33120212,75720142012201320162017201820192022202317Description:AsapartofBarclaysInternational,theincomeoftheBarclay'sconsumer,cardsandpaymentsdivisionincreasednotablyin2023,reachingavalueofroughly5.3billionBritishpounds.Thiswasanincreaseofmorethan800millionBritishpoundsincomparisontothepreviousyear.ReadmoreNote(s):UnitedKingdom;2012to2023Source(s):BarclaysNumberoffull-timeemployeesatBarclaysPLCworldwidefrom2017to2023,bydivisionDivisiondistributionofBarclays'globalemployees2017-2023BarclaysInternationalBarclaysUKHeadOffice100,00090,00080,00070,00060,00050,00040,00030,00020,00010,0000201720182019202020212022202318Description:ThemajorityofemployeesatBarclaysplcworkedintheheadofficesegmentin2023.Inthatyear,morethan73,000full-timeemployeesworkedinthissegmentand6,800workedatBarclaysUK.BarclaysisoneofthetenlargestbanksinEuropeintermsoftotalassets.ItisalsoamongtheEuropeanbankswithstrongestinternationalpresence,operatingin50countriesworldwide.ReadmoreNote(s):UnitedKingdom;2017to2023Source(s):BarclaysRevenueofBarclaysPLCfrom2016to2023,bycountry(inmillionGBP)Barclaysrevenuein30countriesworldwide2016-202320161506771962655515520171308978502303824420181231174866003374920191371776747987112520201367079487562021146937576858202217931686110969352023159768897122712091045514UnitedKingdomUnitedStatesIndiaLuxembourgIreland119910311084891812425GermanySingaporeJapan3847423202502221581101804073693192447140739532538898420386361241138156142182399400389383458504409333426431HongKongFrance300323381422175269283273Jersey157118193158169173147209Monaco130153136171IsleofMan17418218723116819Description:In2023,BarclaysGroupgeneratedcloseto16billionBritishpoundsinrevenuesintheUnitedKingdom,adecreasecomparedtothepreviousyear.TheUnitedStateswassecondintheranking,responsibleforapproximately8.9billionBritishpoundsinrevenue.In2022,BarclaysPlcwasthefifth-largestbankinEuropeintermsoftotalassets.ReadmoreNote(s):Worldwide,UnitedKingdom;2016to2023Source(s):BarclaysNumberofemployeesofBarclaysPLCworldwidein2023,bycountryEmploymentfiguresatBarclays2023,bycountryEmployeenumbers05,00010,00015,00020,00025,00030,00035,00040,00045,00050,000UnitedKingdomIndia45,25928,568UnitedStatesCzechia12,3231,487842GermanySingaporeHongKongJapanIsleofManIrelandFranceSwitzerlandMonaco79853947642333730630122920Description:BarclaysGroup,oneofthelargestbanksintheUnitedKingdom,employed45,259peopleacrossthecountryin2023.TheUKdivisionaccountedformorethan50percentofallemployeesofthebankinggroup.IndiaandtheUnitedStatesaccountedforthenexthighestemploymentfiguresglobally.Themajorityofthebank’semployeesnowworkintheꢀHeadOfficedivision.ReadmoreNote(s):UnitedKingdom;2023Source(s):BarclaysCHAPTER

04CompetitorsLargestbanksintheUnitedKingdom(UK)from2001to2023,bymarketcapitalization(inbillionU.S.dollars)LargestbanksintheUK2001-2023,bymarketcapitalizationHSBCHoldingsLloydsBankingGroupNatWestGroupBarclaysStandardChartered3002502001501005002001

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202322Description:HSBCwasthelargestbankintheUnitedKingdombymarketcapitalizationduringthewholeperiodbetween2001and2023.AsofDecember31,2023,HSBChadamarketcapitalizationofapproximately156.17billionU.S.dollars,whichwasanotableincreasecomparedtothepreviousyears.WhilethemarketcapitalizationofHSBCdidnotreachitspre-COVIDvalues,itwasstillꢀhigherthanthatofanyotherEuropeanbankꢀduringthatperiod.ReadmoreNote(s):UnitedKingdom;2001to2023;asofDecember31,eachyearSource(s):CompaniesMarketCLargestbanksintheUnitedKingdom(UK)in2023,bytotalassets(inbillionBritishpoundsandU.S.dollars)LargestbanksintheUK2023,bytotalassetsTotalassetsAssetsinbillionU.S.dollars

AssetsinbillionBritishpounds1,000

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2,00005002,5003,0003,500HSBCHoldingBarclaysLloydsBankingGroupNatWestGroupStandardCharteredSantanderUKNationwideBuildingSociety*VirginMoneyUK*TheCo-operativeBankMetroBank23Description:HSBCwasthelargestbankintheUnitedKingdomasofJune30,2023,boastingtotalassetsvaluedatapproximately3.04trillionU.S.dollars.Asof2022,HSBCwasalsothelargestbankinEurope,anditstoodasoneoftheglobalbankingindustry'sleadinginstitutions.FollowingHSBC,Barclaysheldthesecond-highestamountofassetsintheUK,trailedbyLloyds.ReadmoreNote(s):UnitedKingdom;June2023Source(s):Varioussources(annualandinterimreports)Leadingbanksworldwidein2023,byrevenuefrominvestmentbanking(inmillionU.S.dollars)Largestbanksglobally2023,byrevenuefrominvestmentbankingRevenueinmillionU.S.dollars3,00001,0002,0004,0005,0006,0005,8717,000JPMorganGoldmanSachsBofASecuritiesMorganStanleyCiti4,915.24,0553,637.42,791.9Barclays2,063.51,710.41,405.9UBSWellsFargoRBCCapitalMarketsJefferiesLLC1,390.91,372.324Description:JPMorganwastheworld'sleadingbankintermsofinvestmentbankingrevenuein2023.In2023,thebankgeneratedaninvestmentbankingrevenueofaround5.8billionU.S.dollars.JPMorganwasalsothelargestbankintheUnitedStatesbytotalassets,followedbyBankofAmericaandWellsFargoBank.ReadmoreNote(s):Worldwide;JanuarytoDecember2023Source(s):Dealogic;WallStreetJournalNumberofcustomersworldwideatthelargestbanksintheUnitedKingdom(UK)in2023(inmillions)LeadingbanksintheUKbynumberofcustomers2023Numberofcustomersinmillions60

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10002040120140160180SantanderBarclays164.5448HSBC42LloydsBankGroupNatWest261916.3Nationwide*StandardCharteredVirginMoneyMetroBank106.62.725Description:TheUK-basedbankwiththehighestnumberofcustomersin2023wasSantander,withover164millioncustomersworldwide.Barclaysfollowed,withaglobalcustomerbaseof48million.Despitetheirhighcustomernumbers,boththesebanksrankrelativelylowwhenitcomestocurrentaccountholdercustomersatisfaction.ThetopthreebanksintermsofsatisfiedcustomersasofAugust2023weretheonlinebanksStarlingBank,FirstDirect,andMonzoBank.ReadmoreNote(s):Worldwide,UnitedKingdom;2023Source(s):Varioussources(annualreports,websites)NetcurrentaccountcustomersgainedorlostbyleadingbanksintheUnitedKingdom(UK)via"currentaccountswitchservice"(CASS)in3rdquarter2023CurrentaccountswitchesofbanksintheUKQ32023,bynetgain/lossNetgain/loss-10,000NatWest010,00020,00030,00040,00050,00060,00070,00059,158HSBCTSB25,03715,754RBS6,382UlsterBank1,885TriodosBankJ.P.MorganCHASEDanskeBankofIrelandAIBGroup(UK)p.l.c.BankofScotlandStarlingBankLtdCo-operative94-140-340-419-590-1,473-1,999-2,02826Description:Thevolumeofbankaccountswitching(usingthe"currentaccountswitchservice",CASS;offeredbythePayment'sCouncil)listedforleadingUnitedKingdom(UK)banksinthethirdquarterof2023wasthehighestforNatWest.Thebankhadanetgainofover59,000currentaccountcustomersduringthisperiod.Duringthesameperiod,Santanderhadthehighestrecordednetlosses,withmorethan27,000currentaccountcustomersswitchingtootherbanks.

ReadmoreNote(s):UnitedKingdom;July1,2023toSeptember30,2023Source(s):Pay.UKRatioofbankcustomersgainedandlostintheUnitedKingdomin3rdquarter2023,bybankRatioofbankcustomerswonandlossintheUKQ32023Ratioofcustomersgained/(lost)-2

-1-3-3-2-1011TriodosBankHSBCRoyalBankofScotland(RBS)TSB0.70.60.60.5NatWest0.4UlsterBank-0.6JPMorganCHASELloydsBank-1-1.1Monzobank-1.2-1.2StarlingBankCo-operativeBankBankofScotlandHalifax-1.4-1.5-1.627Description:Theriseofdigitaldisruptors,challengersandsustainability-focusedbanksintothemarkethasbeennothingshortofincredible,withbackersinvestinghundredsofmillionsofU.S.dollarsintothesenewercompanies.Totrulybegintochallengethelargerbanks,disruptorsmustnotonlyseecustomergrowthbutalsowinconsumersoverfromtheirrivals.Inthethirdquarterof2023,customerretentionvariedgreatlyacrossbanksintheUK,butdigitalbanks,suchasMonzoandStarlingBank,[...]

ReadmoreNote(s):UnitedKingdom;Q32023Source(s):Pay.UK;LeadingbanksforlargecorporationsintheUnitedKingdom(UK)in2024,bymarketpenetrationrateMarketpenetrationofbanksforUKlargecorporationsin202480%71%69%70%61%60%50%40%30%20%10%0%HSBCBarclaysNatWestGroup28Description:Accordingtotop-tierlargecorporationsexecutivesintheUnitedKingdom(UK),HSBChadthelargestmarketpenetrationamongleadingbankingservicesprovidersinthecountryasof2024.Inthattime,HSBChadamarketpenetrationof71percentoftheUnitedKingdomcorporatebankingmarket.HSBCwasalsooneofthetopfivebanksbylargecorporationsmarketpenetrationinEurope.ReadmoreNote(s):UnitedKingdom;July2023toDecember2023;125respondents;CFOs,financedirectorsandtreasurersoftop-tiercompaniesintheUnitedKingdomSource(s):GreenwichAssociatesCHAPTER

05ESGValueofsustainablefinancingbyBarclaysPLCfrom2016to2023(inbillionBritishpounds)GreenandsustainablefinanceofBarclays2016-20238070605069.267.865.360.94034.831.730.528.53020100201620172018*2019202020212022202330Description:BarclaysPLCincreasedthevalueofsocial,environmental,andsustainability-linkedfinancingfacilitatedbetween2016and2023.BarclaysbeganpublishingtheirsustainablefinancingresultsthroughtheirEnvironmentalSocialGovernancereport(ESG)in2016.Priortoannouncingtheircommitment,thebankhadfacilitatedalmost90billionBritishpoundsinsocialandgreenfinancing.In2021,thebankfinanced69.2billionBritishpoundsinsocial,environmental,andsustainability-linked[...]ReadmoreNote(s):Worldwide;2016to2023;*2018SocialandEnvironmentalfinancinghasbeenrestatedtoincorporatesustainability-linkedfinancingfacilitiesandensureaconsistentbasisofreportingwith2019.ReadmoreSource(s):BarclaysValueofsustainablefinancingbyBarclaysPLCfrom2017to2023,bytype(inbillionBritishpounds)GreenandsustainablefinanceofBarclays2017-2023,bytypeSocialEnvironmental41.2Sustainability-linked35.74540353032.43026.923.924.125201510522.621.921.714.813.710.810.97.85.34.853.11.4020172018*2019202020212022202331Description:In2023,Barclaysplcfacilitatedmoresocialprojectfinancingsthanenvironmentalorsustainability-linkedprojects,justasinthepreviousyears.Thevalueofsustainablefinancingdecreasedinthesustainability-linkedcategory,whilethevalueofsocialandenvironmentalfinancingincreased.ReadmoreNote(s):Worldwide;2017to2023;*2018SocialandEnvironmentalfinancinghasbeenrestatedtoincorporatesustainability-linkedfinancingfacilitiesandensureaconsistentbasisofreportingwith2019.ReadmoreSource(s):Ba