Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 514

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 514
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 activity including fees booked on a large UK rights issue completed in Q224. Advisory fee income increased 11% to £661m – International Corporate Bank income decreased 5% to £1,759m driven by lower liquidity pool income, as higher income from growth in deposit balances was offset by margin compression in deposit products including the impact of customers migrating to higher interest returning products. Corporate lending income was broadly stable • Total operating expenses increased 2% to £7,908m driven by UK regulatory levies and litigation and conduct costs. Operating expenses excluding UK regulatory levies and litigation and conduct, remained broadly stable as the impact of inflation, and higher performance costs was offset by efficiency savings • Credit impairment charges were £123m (2023: £ 102 m), driven by single name charges, partially offset by the benefit of credit protection • Loans and advances at amortised costs increased to £124.4bn (December 2023: £108.9bn ) driven by increased investment in debt securities and higher lending in Global Markets • Trading portfolio assets decreased to £166.1bn (December 2023: £174.5bn ) and Financial assets at fair value through the income statement decreased to £190.4bn (December 2023: £202.5bn ). Increases in client activity and underlying growth in financing balances were more than offset by balance sheet efficiencies and increased netting opportunities • Derivative assets and liabilities increased to £291.6bn (December 2023: £255.1bn ) and £279.0bn (December 2023: £249.7bn ) respectively. In addition to increased client activity, increased mark-to-market on FX derivatives was driven by USD appreciation in Q424, partially offset by a reduction in interest rate derivatives due to an increase in the USD and GBP forward rate curves . • Deposits at amortised cost increased to £140.5bn (December 2023: £132.7bn driven by deposit growth in International Corporate Bank • RWAs remained broadly stable at £198.8bn (December 2023: £ 197.3 bn) reflecting the commitment to improve productivity whilst not increasing RWAs materially Notes : 1 Markets Financing includes income related to client financing in both FICC and Equities. In FICC this includes fixed income securities repurchase agreements, structured credit, warehouse and asset backed lending. In Equities this includes prime brokerage margin lending, securities lending, quantitative prime services, futures clearing and settlement, synthetic financing, and equity