Leading market positions focused on U.K. retail and corporate banking and global wholesale banking. Diversified risk profile by business and geography. Robust capital, funding, and liquidity positions. The deep recession triggered by the COVID-19 pandemic significantly increased credit impairments. Exposure to higher risk market segments including unsecured consumer credit, leveraged finance, and corporate sectors vulnerable to the effects of the pandemic. Scope for revenue volatility and operational complexity in the large capital markets business. The negative outlook reflects potential downside risks to asset quality and earnings from the ongoing impact of COVID-19. Barclays has built prudent provision cover and we expect economic recovery to take hold in 2021, but the path of the pandemic remains uncertain. Although we view positively
