Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 517

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 517
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 a decrease in relation to merchant acquiring cash in transit settlement balances Note: 1 See Note 25 Legal, competition and regulatory matters for more information on the basis of preparation.

| Strategy                                    | Shareholderinformation | Climate andsustainability report | Governance | Riskreview |     | Financialreview | Financialstatements |     | Barclays PLC 2024Annual Reporton Form 20-F | 341 |
| Analysis of results by business (continued) |                        |                                  |            |            |     |                 |                     |     |                                            |     |

2023 compared to 2022 • Loss before tax was £970m (2022: £900m ) including £515m of Q423 structural cost actions • Total income was broadly stable at £510m (2022: £464m ) • Total operating expenses increased to £1,414m (2022: £1,244m ) primarily driven by £515m of Q423 structural cost actions, partially offset by lower litigation and conduct charges • Head Office structural cost actions principally include the goodwill and intangible asset impairments related to the merchant acquiring Payment business, and the Canary Wharf office lease exit • Credit impairment charges were £60m (2022: £124m ) driven by stable credit quality and easing inflationary pressure in the modelled German consumer finance business • RWAs increased to £19.0bn (December 2022: £14.7bn ) primarily driven by methodology and policy updates including increases in non-customer assets in merchant acquiring relating to settlement balances

| Strategy                      | Shareholderinformation | Climate andsustainability report | Governance | Riskreview |     | Financialreview | Financialstatements |     | Barclays PLC 2024Annual Reporton Form 20-F | 342 |
| Non-IFRS performance measures |                        |                                  |            |            |     |                 |                     |     |                                            |     |

The Group’s management believes that the non-IFRS performance measures included in this document provide valuable information to the readers of the financial statements as they enable the reader to identify a more consistent basis for comparing the businesses’ performance between financial periods, and provide more detail concerning the elements of performance which the managers of these businesses are most directly able to influence or are relevant for an assessment of the Group. They also reflect an important aspect of the way in which operating targets are defined and performance is monitored by management. However, any non-IFRS performance measures in this document are not a substitute for IFRS measures and readers should consider