Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 49 report information sustainability report Governance review review statements Annual Report 2022 Divisional reviews (continued) Market and operating environment Focus areas Barclays UK Against a challenging economic and political Providing exceptional service backdrop this year, customer confidence in and insights to customers: both the UK economy and its impact on their We aim to provide simple, relevant and prompt Barclays UK consists of our UK Personal Banking, personal finances fell. Inflationary pressures services and propositions for our customers so have put significant strain on our customers in they have greater choice and access to the UK Business Banking and Barclaycard Consumer the UK and elsewhere, with many adapting to support they need to make their money work address these challenges, from changing their UK businesses. for their individual circumstances. spending habits to paying down higher cost Driving technology and digital innovation: debts. As a bank, we have an important duty to We continue to invest in our digital capabilities, play in society, and use our expertise to help upgrading our systems, moving to cloud people with their financial wellbeing, providing Highlights technology and implementing automation of them with the support they need to navigate • UK Personal Banking offers retail solutions to help customers with their day-to-day banking manual processes. This is intended to allow us these uncertain times, including help with needs. money management and budgeting. to deliver a more personalised digital experience, reduce cost and create additional • UK Business Banking serves business clients, from high-growth start-ups to SMEs, with There continues to be a significant shift towards capacity to support more of our customers. It specialist advice for their business banking needs. digital adoption and demand for digital financial aims to give us the capability to drive service • Barclaycard Consumer UK is a leading credit card provider, offering flexible borrowing and services to meet day-to-day needs. The and improve financial inclusion. payment solutions, while delivering a leading customer experience. changes in competition over the past decade Continuing to grow our business: makes addressing these evolving customer We are pursuing partnership and acquisition expectations even more pertinent. We aim to opportunities to build and deliver better provide customers with banking services in new propositions and services, while continuing to and innovative ways, embracing technology as a innovate across our Barclays platforms to means of making things simpler, more unlock new and sustainable income streams. In transparent and more secure. Whilst we have the unsecured lending space, in particular, we are working with partners such as Avios, to seen an increase in the number of customers adapt to evolving customer demands as they moving to digital, there remains a cohort of Measuring where we are look for flexibility, convenience and safety from customers who are digitally less confident, and their lending solutions - driving a shift from require more traditional points of engagement. overdrafts, towards reward credit cards and UK regulation continues to evolve, seeking to instalment lending. £7.3bn £2.6bn +11 provide higher levels of protection for the Evolving our societal purpose: Income Profit before tax Barclays UK NPS consumer. The Consumer Duty, due to come We are working across the communities in 2021: £6.5bn 2021: £2.5bn 2021: +11 into force in July 2023, is focused on ensuring which we serve to support financial inclusion that firms deliver good customer and client and recognise our role in supporting the outcomes through: ensuring those products transition towards a low-carbon economy. We and services provide fair value; enabling are reinventing how we support customers in informed decision-making and providing the community and also seeking to preserve support that meets the needs of customers £4.3bn 18.7% +12 access to banking for consumers and and clients. These key principles align with the Operating expenses Return on Tangible Equity Barclaycard NPS businesses over the long term. Barclays UK Purpose and strategy, and we are 2021: £4.4bn 2021: 17.6% 2021: +4 committed to ensuring that the Consumer Duty is demonstrably embedded throughout the organisation.