Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 37

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 37
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;3.8bn Profit before tax 2023: &pound;3.2bn &pound;7.9bn Operating expenses 2023: &pound;7.7bn 8.5% Return on equity (2023: 7.0%) 8.5% Return on tangible equity 2023: 7.0%

Our acute focus on growing our share with the top 100 clients by deepening our relationships continues to progress. We grew our Top 5 rank from 49 to 56 in 2024.1 Our Research team continues to rank highly amongst our institutional client base, as evidenced by the results in the Extel 2024 surveys, where Barclays ranks #3 in Global Fixed Income, #5 in European Equity Research and #8 in US Equity Research. In Investment Banking, we delivered revenue growth of 12% year on year, and improved overall global fee share by 30bps to 3.3%2. In 2024, we maintained our traditional strengths in DCM, consisting of Investment Grade (#6, 3.5% share1) and Leveraged Finance (#5, 4.7% share1) while making progress in rebalancing our footprint towards Advisory (#11%, 2.6% share, flat to 20231), and ECM (#7, 3.1+ %, up from #11, 2.1% in 20231). While corporate banking revenues were down 5% driven by lower liquidity pool income and margin compression on deposits, we made progress in developing our international offering and improved our digital offering to meet the increasingly sophisticated needs of our clients. Additionally, we continued to integrate our activities through our combined Treasury Coverage model, unifying engagement for clients&#8217; wider Investment Bank treasury needs. &#8220;We continued to help clients power possibilities and plan for their future with confidence &#8211; drawing on the breadth and depth of our franchises, our strategic advice, and our comprehensive financing and risk management solutions.&#8221; Cathal Deasy Global Co-Head of Investment Banking Looking ahead Our goal in the Investment Bank is to continue to improve returns to deliver in line with Group RoTE in 2026 and leverage our strength in the UK to consolidate our position as a leading global investment bank. We aim to achieve this through high single-digit compound annual growth rate (CAGR) income growth, disciplined cost management and increase in capital efficiency. Notes: 1