Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 510

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 510
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 Tesco Bank, lending business growth and regulatory driven methodology changes Notes: 1 Following the completion of the acquisition on 1 November 2024, Tesco Bank is reported in Personal Banking. In Q424 and FY24, total income includes the £556m day 1 gain, and total credit impairment charges include the £209m day 1 impact. 2 WM&I was transferred in May 2023 . 3 Excluding the impact of Tesco Bank acquisition.

| Strategy                                    | Shareholderinformation | Climate andsustainability report | Governance | Riskreview |     | Financialreview | Financialstatements |     | Barclays PLC 2024Annual Reporton Form 20-F | 330 |
| Analysis of results by business (continued) |                        |                                  |            |            |     |                 |                     |     |                                            |     |

2023 compared to 2022 • Profit before tax increased 8% to £2,868m with a RoE of 14.0% (2022: 13.8%) and RoTE of 19.2% (2022: 18.7% ) • Total income increased 5% to £7,587m . Net interest income (NII) increased 9% to £6,431m with a net interest margin (NIM) of 3.13% (2022: 2.86% ), as higher interest rates and associated structural hedge benefit outweighed mortgage margin pressure and adverse deposit dynamics reflecting wider market trends. Net fee, commission and other income decreased 15% to £1,156m including the impact of the transfer of WM&I to CC&P • Total operating expenses increased 2% to £4,415m , including £168m impact from Q423 structural cost actions. Excluding the impact of Q423 structural cost actions, operating expenses decreased 2% , driven by the transfer of WM&I to PBWM partially offset by the impact of inflation and the acquisition of Kensington Mortgage Company (KMC). Ongoing efficiency savings continue to be reinvested, including in our transformation programme to support sustainable improvement to the cost: income ratio over the longer term • Credit impairment charges increased to £304m (2022: £286m ), consistent with low delinquencies in UK cards and a high quality mortgage lending portfolio. UK cards 30 and 90 day arrears remained low at 0.9% (Q422: 0.9%) and 0.2