Leading business positions in core markets. Reasonably diversified revenue base by business line and geography. Strengthened liquidity position. Relatively resilient earnings performance. Revenue volatility and confidence sensitivity of extensive investment banking activities. Material residual exposures to legacy credit market assets. Risks inherent in substantial loan portfolios. The ratings on U.K. bank Barclays Bank PLC reflect Standard&Poor's Ratings Services' opinion of its robust business profile and less strong, but improving, financial profile. We consider that Barclays has a strong and diverse franchise by business line and geography, but with a relatively overweight position in investment banking through its Barclays Capital (BarCap) division. BarCap's performance has been volatile in recent years, reflecting cyclicality in revenues and write-downs. BarCap's share of
