Full Year 2021 Barclays PLC Fixed Income Earnings Call Transcript
Welcome to the Barclays Full Year 2021 Results Fixed Income Conference Call. I will now hand you over to Tushar Morzaria, Group Finance Director.
Good afternoon, everyone, and welcome to the Fixed Income Investor Call for our full year 2021 results. I'm joined today by Dan Fairclough, our Interim Group Treasurer.
Let me start with Slide 3 and make some introductory comments on our full year performance and outlook before handing over to Dan.
Through the year, the strength of the CIB has continued to offset the effects of the pandemic on our consumer businesses, where we are now seeing initial signs of recovery. Overall income was up 1% year-on-year despite an 8% weakening in the average U.S. dollar exchange rates. Costs increased by GBP 0.6 billion to GBP 14.4 billion as a result of an increase of GBP 0.3 billion in structural cost actions and GBP 0.2 billion in performance costs. However, base costs, excluding these items, were flat at GBP 12 billion, in line
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