Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 515

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 515
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 structured financing. All other items are considered intermediation. 2 Data source: Dealogic for the period covering 1 January to 31 December 2024.

| Strategy                                    | Shareholderinformation | Climate andsustainability report | Governance | Riskreview |     | Financialreview | Financialstatements |     | Barclays PLC 2024Annual Reporton Form 20-F | 337 |
| Analysis of results by business (continued) |                        |                                  |            |            |     |                 |                     |     |                                            |     |

2023 compared to 2022 • Barclays Investment Bank RoE was 7.0% (2022: 9.3%) and RoTE was 7.0% (2022: 9.3% ) with a profit before tax of £3,196m (2022: £3,480m ) including £169m of Q423 structural cost actions. Excluding the impact of Q423 structural cost actions, Barclays Investment Bank delivered a RoTE of 7.5% • Total income decreased 7% to £11,035m and decreased 5% excluding £292m impact from prior year hedging arrangements related to the Over-issuance of Securities 1 – Global Markets income decreased 18 % to £ 7,218 m against a record prior year comparative. FICC income decreased 15 % to £ 4,845 m, reflecting lower market volatility and client activity. Equities income decreased 25 % to £ 2,373 m, driven by a decline in derivatives income reflecting less volatile equity market conditions – Investment Banking fees decreased 12 % to £ 1,960 m due to the reduced fee pool across the industry 2 . Advisory decreased 23 % and Debt capital markets decreased 10 %, while Equity capital markets increased 32 % – Transaction banking income increased 22 % to £ 1,644 m driven by improved deposit margins in the higher interest rate environment. Corporate lending income increased to £ 213 m (2022: £ 479 m loss) mainly driven by lower costs of hedging and lower fair value losses on leverage finance lending net of mark to market gains on related hedges • Total operating expenses decreased 6% to £7,737m . Operating expenses excluding litigation and conduct charges increased 9 % to £7,742m reflecting investment in talent and technology, £169m of Q423 structural cost actions and the impact of inflation, partially offset by efficiency savings • Credit impairment charges decreased