Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 29

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 29
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2023: &pound;4.4bn 16.9% Return on equity 2023: 14.0% 23.1% Return on tangible equity 2023:19.2%

Our customers want a broader proposition and we&#8217;ve improved our products and offerings. For example, we&#8217;ve added Apple TV+ to the benefits included in Blue Rewards and given Premier customers access to all Barclays Blue Rewards features. We&#8217;ve supported over 100,000 homebuyers and owners with their mortgage applications in 2024. A new Mortgage Charter journey has enabled customers experiencing short-term payment difficulties to temporarily reduce their payments via the Barclays app, simplifying the experience and helping them to make informed decisions. Our subsidiary, Kensington Mortgages, launched a new Step Down mortgage where payments reduce after two years, helping customers facing financial changes. Kensington is currently the only mortgage provider in the UK to offer this. Through our Business Banking business, in 2024 we lent &pound;2.17bn to SMEs to help them grow. We have also migrated 650,000 business clients from legacy infrastructure and pricing onto a new standard current account tariff that provides streamlined, competitive pricing for all. In November 2024, we completed the acquisition of Tesco Bank, which includes credit cards, unsecured personal loans,savings and operating infrastructure. Barclays UK has also entered a long-term, exclusive partnership with Tesco Stores Limited for an initial period of 10 years to market and distribute credit cards, unsecured personal loans and deposits using the Tesco brand, as well as to explore other opportunities to offer financial services to Tesco customers. This builds on Barclays UK&#8217;s existing strategic partnerships with other leading brands. &#8220;In 2024, we have endeavoured to uplift the customer experience and our targeted actions have led to a 36% reduction in customer complaints.&#8221; Vim Maru CEO of Barclays UK Looking ahead Over the next two years, we will remain focused on improving our products and services, as we deliver for customers and strive to provide a world-class experience. Our customers expect more from us, and we will continue to enhance and evolve our product offerings and how they experience them. Technology and innovation bring advancements. We will focus on delivering improved capability through functional and scalable technology &#8211; simplifying by investing in digitisation, automation and data. Our digital channels &#8211; including our onboarding and application