Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 280

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 280
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. &#8226; Delivered against the strategic actions we set out in February 2024, selling our German consumer finance business and Italian mortgage book. &#8226; Continued to upgrade legacy technology, decommissioning 210 legacy applications (450-500 legacy applications to be decommissioned over 2024 to 2026). Deliver better customer outcomes, income quality and investment priorities across our businesses &#8226; Continued to progress investment and income opportunities across our businesses, including completing the acquisition of Tesco Bank. &#8226; Invested in customer technology across the Bank &#8211; introduced enhanced features in the Barclays banking app, implemented our end-to-end global trade finance solution, Trade360, and improved our Smart Investor digital investing proposition. &#8226; The Investment Bank continued to grow income, with a focus on more stable income streams. Global Markets deepened relationships with the top 100 clients: we are now ranked top 5 at 56 of those clients (2023: top 5 at 49)4. Investment Banking maintained its traditional strengths in DCM, while making progress in rebalancing its footprint towards Advisory and ECM. &#8226; The US Consumer Bank launched a new co-branded card programme with Breeze Airways, and extended our existing partnership agreements with Hawaiian Airlines, Frontier and RCI, while also expanding its online retail deposits business. Demonstrate progress towards reallocating capital to the highest returning businesses &#8226; Deployed &pound;13bn5 of RWAs, of c.&pound;30bn planned RWA growth through to 2026, into business growth activity across our three highest-returning divisions, including c.&pound;7bn RWAs from the Tesco Bank acquisition. &#8226; Investment Bank RWAs as a percentage of Group RWAs reduced from 58% in 2023 to 56% in 2024. The growth in income, together with stronger management of RWAs, allowed it to deliver revenue over average RWAs of 5.8%, up 30bps on 2023. Continue to drive the sustainability strategy of the bank to achieve our ambition to be a net zero bank by 2050 &#8226; Facilitated $162.2bn of Sustainable and Transition Financing since 2023 (of which $94.4bn in 2024), against our target to facilitate $1trn by the end of 2030. Additionally, Barclays Climate Ventures, formerly Sustainable Impact Capital, has