Barclays PLC (NYSE:BCS) Bank of America 30th Annual Financials CEO Conference 2025 September 17, 2025 3:45 AM EDT
Company Participants
Angela Cross – Group Finance Director & Executive Director
Conference Call Participants
Pui Mong – BofA Securities, Research Division
Presentation
Pui Mong
BofA Securities, Research Division
I am Perlie Mong. I am the UK Banks analyst here at Bank of America. It’s my pleasure to welcome Anna Cross, Finance Director of Barclays on stage with me. Anna, thank you for coming.
Angela Cross
Group Finance Director & Executive Director
Thank you very much.
Pui Mong
BofA Securities, Research Division
I know you said last week that you’re very confident that you can reach all your 2026 targets that you’ve set out. You’ve also said that you’ll give new financial targets before the current ones expire, which is very exciting, but I won’t get ahead of myself just yet. So should we go through your current strategy by divisions, starting with the U.K.?
Angela Cross
Group Finance Director & Executive Director
Yes.
Question-and-Answer Session
Pui Mong
BofA Securities, Research Division
So you’ve committed to putting GBP 30 billion RWAs incremental in your U.K. businesses. You’ve deployed GBP 17 billion already, including Tesco. What has driven this growth? And where are you seeing the best opportunities from here?
Angela Cross
Group Finance Director & Executive Director
Yes. Thanks, Perlie. So we’ve got a GBP 30 billion RWA target for the U.K. across ’24 to ’26. And at the halfway point of the plan, we are at GBP 17 billion. Now a proportion of that around GBP 8 billion has come from Tesco, the rest of it organic. And we’re running, Perlie, at around a little over GBP 2 billion per quarter. So that with 6 quarters to go, that gives you an idea as to why we’re confident that we’ll meet that target. And really, we do see clear opportunities to
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