Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 19

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 19
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 inorganic activity; &#8211; Group net interest income (NII) excluding Barclays Investment Bank (IB) and Head Office represents Group NII excluding IB NII and Head Office NII. The comparable IFRS measure is Group NII. A reconciliation is provided on page 348; &#8211; Income excluding the impact of the Over-issuance of Securities represents income excluding the impact of the Over-issuance of Securities; &#8211; Income excluding the impact of Q423 structural cost actions represents income excluding the impact of Q423 structural cost actions; &#8211; 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 &pound;220m loss on sale of the performing Italian retail mortgage portfolio, the &pound;9m loss on disposal from the German consumer finance business and the &pound;26m loss on sale of the non-performing Italian retail mortgage portfolio. This was offset by the day 1 net profit before tax of &pound;346m from the acquisition of Tesco Bank. &#8211; Operating expenses excluding litigation and conduct represents operating expenses excluding litigation and conduct charges. The comparable IFRS measure is operating expenses. A reconciliation is provided on page 348; &#8211; Operating expenses excluding Q423 structural cost actions represents operating expenses excluding Q423 structural cost actions. The comparable IFRS measure is operating expenses. A reconciliation is provided on page 348; &#8211; Performance measures excluding the day 1 impact of the Tesco bank acquisition are calculated by excluding the day 1 impact of the Tesco Bank acquisition, comprising an income gain of &pound;556m as a result of consideration payable for the net assets being lower than fair value, partially offset by the post-acquisition &pound;209m impairment charge from IFRS 9 recognition. See page 346 for the reconciliation of performance measures excluding the day 1 impact of the Tesco Bank acquisition; &#8211; Return on average allocated equity represents the return on shareholders&#8217; equity that is allocated to the businesses. The comparable IFRS measure is return on equity. A reconciliation is provided on page 350; &#8211; Return on average allocated tangible equity is calculated as the annualised profit after tax attributable to ordinary equity holders of the parent, as a proportion of average allocated tangible equity. The comparable IFRS