Diversified profile by business line and geography. Relatively resilient performance through the economic and market downturn. Solid funding base underpinned by strong U.K. deposit franchise. Material residual exposure to legacy credit market assets. Relative earnings volatility and confidence sensitivity of substantial investment banking activities. Elevated loan losses arising from economic deterioration in core markets such as the U.K., South Africa, and Spain. We consider that U.K.-incorporated Barclays Bank PLC (Barclays) has a broadly diversified business profile, with a strong franchise across retail, commercial, and investment banking. It has progressively expanded outside its domestic market through acquisitions and organic growth. For example, non-U.K. customer lending represented 54% of the group total at June 30, 2009. Excluding nonrecurring gains and a loss
