Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 34

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 34
---
2024 divisional review (continued) Measuring where we are &pound;1.3bn Income 2023: &pound;1.2bn &pound;0.4bn Profit before tax 2023: &pound;0.4bn &pound;0.9bn Operating expenses 2023: &pound;0.8bn 25.7% Return on equity 2023: 29.9% 28.1% Return on tangible equity 2023: 32.7%

&#8220;Our vision is to be the investment partner for our clients, their families, and the next generation. We have focused on improving the service we deliver for clients as we help them achieve their goals." Sasha Wiggins CEO of Private Bank and Wealth Management Our research indicates that a number of people in the UK may benefit from financial advice but are not receiving it. To address this need, we have built the foundations of a new UK Affluent proposition to provide advice to our customers and clients at each stage of their personal financial journey. It aims to deliver scalable and accessible financial planning, which is fairly priced and transparently constructed. It will be fully integrated within the Barclays app &#8211; making it seamless for our customers to access the advice they need alongside their day-to-day banking requirements. The UK Affluent service is currently being piloted and will be launched in 2025. We have focused on providing a best-in-class offering for our Private Bank clients. We continued to enhance our personalised service and improve the products we offer, including our ability to offer credit against investments and expanding our alternative offerings with the launch of new Private Markets solutions. We also launched a unitised fund based on our top- quartile performing1 multi-asset class discretionary strategy. Internationally, we are developing the foundations for future growth in the Middle East and Asia. Across our business, we have automated processes and digitised services to improve our operations. For instance, in Europe, we increased automation in our banking offering to improve operations and controls, and reduce processing times. Looking ahead We are focused on improving efficiencies across our business, strengthening our propositions and growing our assets under management to drive a more balanced income profile across net interest income and fees. A continued focus is to deepen the relationships we have with our existing clients and continue to grow our assets and liabilities. We will do this by being more consistent with the way we collaborate with clients across the wider firm. For example, we have identified