Robert Noble's questions to Barclays PLC (BCS) leadership • Q2 2025
Question
Robert Noble asked for clarification on the mechanics of promotional credit card balances contributing to a Q2 pickup, the reasons for weak UK deposit growth over the last eight quarters, and details on the size and growth of the Kensington mortgage book.
Answer
Group Finance Director Anna Cross explained that effective interest rates on cards are booked conservatively and the 2024 cohort is now maturing. On UK deposits, she stated trends are in line with peers, with stable current account share and disciplined pricing during a competitive ISA season. For Kensington, she noted high-LTV mortgages now comprise 25% of new flow with margins approximately four times higher than standard Barclays mortgages, though she did not provide specific balance details.