Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 218

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 218
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 made headway in delivering against their business-specific objectives, which are the building blocks of our Group strategy. &#8226; In Barclays UK, we completed the acquisition of Tesco Bank and made meaningful progress in improving customer experience, reflected in customer satisfaction improvements across a range of metrics and a 36% reduction in the number of complaints. &#8226; The UK Corporate Bank achieved total loan growth of &pound;1bn2, developing and improving products and services to better meet client needs, and improving client self-serve capabilities. &#8226; The Private Bank and Wealth Management business focused on improving the digital investing proposition, introducing more competitive pricing and simplifying customer journeys, improvements that contributed to over 58,000 customers choosing to open a Smart Investor account in 2024 &#8211; up 141% from 2023. &#8226; RoTE for the Investment Bank grew by 150bps to 8.5%3, reflecting growth in income from more stable sources and greater efficiency, together with stronger management of RWAs. &#8226; In the US Consumer Bank, while we made a strategic decision not to bid to become American Airlines' sole card issuer from 2026, we announced a new partnership with General Motors, and grew RoTE from 4.1% to 9.1%3 as impairment changes normalised and we proactively improved operational performance. During 2024, the management team has also continued to focus on strengthening our foundation and supporting the delivery of sustainable performance. In the second year of our Consistently Excellent change programme, we have taken further steps to ensure that delivering to a consistently excellent standard becomes part of our culture, through aligning objective setting, performance assessment, recognition systems and reward processes for all colleagues to the consistently excellent standard. In recognition of our colleagues&#8217; collective efforts and achievements in 2024, and the continued delivery of our three-year plan, we are granting all our colleagues below the Managing Director level, excluding Material Risk Takers4, a one off award of 170 Barclays shares, which will need to be retained until after we announce our full- year 2026 results. This share award, worth around &pound;5005 per participant, will reinforce the alignment of colleagues&#8217; interests with those of our shareholders, and ensure more of our colleagues participate directly in the continued success of the Group. Colleague remuneration Alongside rewarding sustainable performance, our Fair Pay Agenda continues to underpin all our