Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 633

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 633
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voting rights held | Non-controllinginterests -proportion ofownershipinterests | Non-controllinginterests -proportion ofvoting interests |
| Company name                       | Nature of business                          | %                        |                               % |                                                         % |                                                         |
| Barclays Bank PLC                  | United Kingdom                              | Banking, holding company |                             100 |                                                         1 | —                                                       |
| Barclays Bank UK PLC               | United Kingdom                              | Banking, holding company |                             100 |                                                         — | —                                                       |
| Barclays Bank Ireland PLC          | Ireland                                     | Banking                  |                             100 |                                                         — | —                                                       |
| Barclays Execution ServicesLimited | United Kingdom                              | Service company          |                             100 |                                                         — | —                                                       |
| Barclays Capital Inc.              | United States                               | Securities dealing       |                             100 |                                                         — | —                                                       |
| Barclays Capital SecuritiesLimited | United Kingdom                              | Securities dealing       |                             100 |                                                         — | —                                                       |
| Barclays Securities JapanLimited   | Japan                                       | Securities dealing       |                             100 |                                                         — | —                                                       |
| Barclays US LLC                    | United States                               | Holding company          |                             100 |                                                         — | —                                                       |
| Barclays Bank Delaware             | United States                               | Credit card issuer       |                             100 |                                                         — | —                                                       |

The country of registration or incorporation is also the principal area of operation of each of the above subsidiaries.

Ownership interests are in some cases different to voting interests due to the existence of non-voting equity interests, such as

preference shares. Refer to Note 29 for more information.

Determining whether the Group has control of an entity is generally straightforward based on ownership of the majority of the voting

capital. However, in certain instances, this determination will involve judgement, particularly in the case of structured entities where

voting rights are often not the determining factor in decisions over the relevant activities. This judgement will involve assessing the

purpose and design of the entity. It will also often be necessary to consider whether the Group, or another involved party with power

over the relevant activities, is acting as a principal in its own right or as an agent on behalf of others.

There is also often considerable judgement involved in the ongoing assessment of control over structured entities. In this regard, where

market conditions have deteriorated such that the other investors’ exposures to the structure’s variable returns have been

substantively eliminated, the Group may conclude that the managers of the structured entity are acting as its