Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 434

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 434
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4 %). Charge Credit impairment charges were £ 1,982 m ( 2023 : £1,881m ), driven by the charge on the acquisition of Tesco Bank and anticipated higher delinquencies in US cards partially offset by the impact of credit risk management actions and methodology enhancements. Management adjustments Economic uncertainty adjustments decreased to £78m ( 2023 : £ 198 m), informed by lower inflationary risk and a resilient credit performance in UK retail lending.

| Refer to the Management adjustment to models forimpairment section onpage248for further details. |

Climate Barclays has performed a credit risk assessment of physical and transition risk due to climate change through a combination of a scenario approach and targeted reviews on specific portfolios identified as more susceptible to climate risk. As further enhancements during the year, the DS2 scenario has been aligned to the IST24 which is climate aware and for specific portfolios new climate modelling techniques were utilised to assess physical and transition risk due to climate change at customer level.

| Further detail can be found in the Financial  statementssection in Note 8 Credit impairment charges.Description of terminology can be found in the glossary,available athome.barclays/annualreport. |

| Refer tocredit risk managementsection  for the detailsof governance, policies and procedures. |

| Strategy                                   | Shareholderinformation | Climate andsustainability report | Governance |     | Riskreview | Financialreview | Financialstatements |     | Barclays PLC 2024Annual Reporton Form 20-F | 231 |
| Risk performance - Credit risk (continued) |                        |                                  |            |     |            |                 |                     |     |                                            |     |

Maximum exposure and effects of netting, collateral and risk transfer The following tables present a reconciliation between the Group's maximum exposure and its net exposure to credit risk, reflecting the financial effects of risk mitigation reducing the Group's exposure. The Group mitigates the credit risk to which it is exposed through netting and set-off, collateral and risk transfer. Further detail on the Group’s policies to each of these forms of credit enhancement is presented on pages 132 to 135 of the Barclays PLC Pillar 3 Report 2024 (unaudited). Collateral obtained Where collateral has been obtained in the event of default, the Group does not, ordinarily, use such assets for its own operations and they are usually sold on a timely basis. The carrying value of assets held by the Group as at 31 December 2024 , as a result of the enforcement of collateral,