Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 513

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 513
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,817 |    3,079 |
| Total income                                                |   11,805 |   11,035 |   11,923 |

| Strategy                                    | Shareholderinformation | Climate andsustainability report | Governance | Riskreview |     | Financialreview | Financialstatements |     | Barclays PLC 2024Annual Reporton Form 20-F | 336 |
| Analysis of results by business (continued) |                        |                                  |            |            |     |                 |                     |     |                                            |     |

2024 compared to 2023 • IB has a diverse income profile across businesses and geographies including a significant presence in the US. The appreciation of average GBP against USD adversely impacted income and profits, and positively impacted total operating expenses • Profit before tax increased to £3,774m (2023: £3,196m ) . IB delivered a RoE of 8.5% (2023: 7.0%) and a RoTE of 8.5% (2023: 7.0% ) which reflects the deep client relationships, synergies across the Investment Bank, prudent capital deployment and risk management. The performance is supported by growth in our diversified income streams including improved performance in Financing 1 and Equities within Global Markets, Equity and Debt Capital markets in Investment Banking. Costs have grown by 2% reflecting the commitment to grow costs modestly • Total income increased 7 % to £11,805m – Global Markets income increased 4% to £7,542m driven by increased income in Equities, partially offset by lower income in FICC – Equities income increased 21 % to £2,875m , reflecting increased client activity in Derivatives and Cash products and growth in Prime financing balances, additionally supported by a £125m fair value gain on Visa B shares in Q124 – FICC income decreased 4% to £4,667m , reflecting lower client activity in Macro and the non-repeat of the inflation benefit from prior year, partially offset by strong performance in Securitised products – Investment Banking income increased 12% to £4,263m – Banking fees and underwriting income increased 28 % to £2,504m reflecting an increase in the fee pool and an increased market share 2 . Debt capital markets fee increased 30% to £1,492m dr iven by increased activity in leverage finance and investment grade issuance. Equity capital markets fees increased 60% to £351m driven by increased deal