Company: BCS
Filing Date: 2025-02-13
Form Type: 6-K
Source: 0001654954-25-001446
Chunk: 6

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 6-K
Chunk 6
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 reflecting the £0.6bn day 1 gain from the acquisition of Tesco Bank and higher structural hedge income, partially offset by mortgage margin compression and adverse product dynamics in deposits, which have stabilised throughout 2024. Excluding the day 1 gain, Barclays UK income increased 2%

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Barclays UK Corporate Bank (UKCB) incomewas broadly stable, reflecting higher deposit income from higher average balances partially offset by lower liquidity pool income

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Barclays Private Bank and Wealth Management (PBWM) income increased 8% driven by growth in client assets and liabilities balances and the transfer of Wealth Management and Investments (WM&I) from Barclays UK 3

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Barclays Investment Bank (IB) in come increased 7%, with Global Markets income increasing by 4% and I nvestment Ban king income increasing by 12%, which reflected higher fee income across products, partially offset by lower income in the International Corporate Bank

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Barclays US Consumer Bank (USCB) income increased 2% reflecting underlying growth in card balances, partially offset by the strengthening of average GBP against USD

| 1 | FY24 Group NII excluding IB and Head Office of £11.2bn and         
 Barclays UK NII of £6.5bn, excludes £0.1bn Tesco Bank NII          
 in line with the updated NII guidance provided at Q324. On a       
 statutory basis, Group NII excluding IB and Head Office was        
 £11.3bn and Barclays UK NII was £6.6bn.                            |
| 2 | Inorganic activity refers to certain inorganic transactions        
 announced as part of the FY23 Investor Update designed to improve  
 Group RoTE beyond 2024. In FY24 this included the £220m loss       
 on sale of the performing Italian retail mortgage portfolio, the   
 £9m loss on disposal from the German consumer finance business     
 and the £26m loss on sale of the non-performing Italian retail     
 mortgage portfolio. This was offset by the day 1 net profit before 
 tax of £347m from the acquisition of Tesco Bank which              
 completed 1 November 2024.                                         |
| 3 | WM&I was transferred in May 2023.                                  |

**2024 Performance highlights (continued):**

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**Group total operating expenses were £16.7bn, down 1% year-on-year**

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Group operating costs were 3% lower at £16.2bn,