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Simpler, Better, More balanced

Update from Group CEO, C.S.Venkatakrishnan

Venkat outlines how Barclays aims to become Simpler, Better and More balanced. This will enable us to improve our customer service, provide more support to consumers and businesses, deliver higher quality income growth, and build returns.


We have more potential

Southampton docks, UK

We are rooted in the UK economy

  • We bank around a quarter of UK corporates1
  • Over 20 million UK retail customers
  • One of the largest UK wealth managers
  • We process over 40% of the UK’s credit and debit card transactions
  • Dealogic #1 UK investment banking fees2
Canary Wharf skyline, UK

We are the leading non-US global investment bank*

  • Joint #1 Fixed Income financing3
  • Top 3 Fixed Income credit3
  • Network across major global financial centres in US, UK, Europe and Asia
Threee Xbox credit cards on tray

We are growing in the largest global cards market

  • 9th largest issuer in the US credit card market4
  • 20 million customers in US
  • Partnering with leading US brands

Our actions will unlock returns



Creating a simpler organisation, structure and operations to reduce cost and complexity.



Higher quality income and customer experience, and a focus on delivering better returns.

More balanced

More balanced

More balanced capital allocation by business and geography meaning we will be able to provide more financing to customers and businesses.

From 2024-2026 we will:

Deliver Group returns in excess of 12% ROTE in 2026
Distribute >£10bn of capital to shareholders
Build RWA in higher returning Businesses. IB allocation of Group RWA 58%>c50%
Deliver higher quality income. Group income of c£30bn in 2026. Cost: income ratio in high 50s
Improve our customer and client service, raising our NPS scores
Embed consistent excellence throughout our controls environment

Our Purpose

We are working together for a better financial future for our customers, clients, and communities.

Client meeting

Barclays Investment Bank

Leading Global Markets and Investment Banking franchises operating at scale, including international corporate banking, serving multinational corporate and institutional clients globally.

Man paying by card

Barclays US Consumer Bank

Barclays US Consumer Bank offers co-branded, small business and private label credit cards, installment loans, online savings accounts, and CDs. We are proud to have 20 million retail customers in the US, and to work with some of the largest US brands on a range of partner cards in the world’s largest credit card market.

Smiling customer

Barclays UK

Barclays UK is our ring-fenced UK retail banking division, and one of the UK’s leading financial brands, trusted by over 20 million customers. It includes our personal and business banking operations, alongside Barclaycard UK.

Smiling customer

Barclays UK Corporate Bank

Barclays UK Corporate Bank has a relationship with over a quarter of UK Corporates, providing the financial and advisory capabilities to power the UK’s SME and mid-cap businesses.

Smiling customer

Barclays Private Bank and Wealth Management (PBWM)

Barclays Private Bank and Wealth Management (PBWM) comprises our UK wealth offering, offering a range of financial services, including Smart Investor, our digital investing service. Our Private Bank is centred in the primary global wealth hubs, providing clients with a range of investing, banking and lending products alongside expert advice.

Full Investor Update Presentation

Annual Report 2023

Annual report 2023 cover

You can download a copy all of our Annual Report 2023 and all supporting documents via the links below. 

* Global Markets and Investment Banking. Global Markets rank based on Barclays’ calculations using Peer reported financials. Top 10 Peers includes Barclays and; US Peers: Bank of America, Citi, Goldman Sachs, JP. Morgan, Morgan Stanley. European Peers: BNP Paribas, Credit Suisse, Deutsche Bank, UBS. Investment Banking rank based on Dealogic as at 31 December 2023

Clients defined as any relationship from which we generate >£10,000 income per annum from our existing product set. UK Corporates defined as the stock of companies (group entities considered together) with annual turnover of >£6.5m. Includes clients across UK Corporate and the International Corporate Bank within the Investment Bank

2 Data from Dealogic, UK Investment Bank revenue by bank, full year 2023

3 Represents shared rank with another bank whose revenues are within 5% of Barclays. 1H23 Coalition Greenwich Global Competitor Analytics. Based on our share of Top 10 peer banks reported revenues: BoA, BNP, CITI, CS, DB, GS, JPM, MS and UBS. Analysis is based on Barclays' internal revenue numbers and business structure 

4 Ranking based on Q323 End Net Receivables reported by peers

5 This multiyear plan is subject to supervisory and Board approval, anticipated financial performance and our published CET1 ratio target range of 13-14%