Barclays (BARC) investor relations material

U.K. macro and lending environment

• U.K. consumers and corporates remain resilient, supported by strong nominal GDP growth, rising real wages, and low unemployment.

• Corporate debt-to-GDP is at an all-time low, indicating capacity for further lending and investment, especially in technology.

• Government focus remains on growth and investment, with upcoming budget expected to reinforce this agenda.

• Changes to the U.K. profit surcharge are not expected to significantly impact returns; signaling effect of growth commitment is more important.

U.K. business performance and strategy

• U.K. loan growth remains strong, with no evidence of demand pull-forward; both retail and wholesale lending are growing.

• Multi-brand strategy and technology investments have expanded mortgage and card offerings, increasing market share and margins.

• Corporate banking strategy shift has increased loan-to-deposit ratio, with significant opportunity remaining compared to peers.

• Risk profile remains stable despite growth, with consistent default grades and no material change in lending risk.

Deposit market and mass affluent segment

• U.K. deposit market is highly competitive, driven by funding needs and high rates, but relationship-based pricing supports stability.

• 90% of retail deposits are held by current account customers, with premier banking driving most recent growth.

• Mass affluent strategy leverages high Net Promoter Score and digital innovation, including new app, branch openings, and GoHenry acquisition.

• Wealth proposition launched in Q2 offers a digital pathway with no custody fees, aiming to migrate mass affluent customers into wealth management.