Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 33

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 33
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 UK and internationally, as well as reinvesting cost efficiencies to support growth. &#8226; Strengthening the proposition across the UK wealth continuum and the International Private Bank. &#8226; Growing assets under management to increase the relative contribution of non- interest income, to deliver high-quality recurring revenue. Note: 1 For India, the Private Bank proposition is available for clients with investable assets of &pound;3m+. Year in review Private Bank and Wealth Management&#8217;s vision is to be the investment partner for our clients, their families, and the next generation. The strength of our business is reflected in our 2024 performance, with assets under management growing 14%, and PBWM delivering a RoE of 25.7% and a RoTE of 28.1%. To continue to serve our customers and clients, and to deliver on the bank&#8217;s strategy, we have simplified our operating model. From February 2025, PBWM will operate through two core areas: PBWM UK, focused on the full UK continuum from first time investors to ultra-high net worth individuals and family offices , and PBWM International, focused on clients in Europe, Middle East, and Asia. Investing is a fundamental part of wealth creation and growth, and in the UK there is an opportunity to support savers to become investors. Barclays&#8217; digital investing service, Smart Investor, is embedded in the Barclays app and has over 331,000 active customers, providing them access to 8,500 different securities and funds including ready-made investments. Over the past year, we have focused on improving our digital investing proposition. The scaling and enhancement of Smart Investor is a strategic priority for Private Bank and Wealth Management as part of Barclays&#8217; three-year plan. In 2024 we introduced more competitive pricing and simplified customer journeys &#8211; for example making it easier for customers to research, open, fund and trade ready-made investment funds in the Barclays app. These improvements have contributed to over 58,000 customers choosing to open a Smart Investor account in 2024 &#8211; a 141% increase compared to 2023 &#8211; and further enhancements are planned in 2025. Smart Investor presents a growth opportunity for Private Bank and Wealth Management, in particular through synergies and cross- collaboration with Barclays UK. Strategy Shareholder information Climate and sustainability report Governance Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 09