List of banks in the United Kingdom
Central bank[]
The Bank of England is the central bank of the United Kingdom.
The Big Four[]
British banking has been highly consolidated since the early 20th century. Unlike some other major economies, the UK does not have a major stratum of independent local banks. The number of independent banks shrank further during 2008: Northern Rock was nationalised by the UK Government (and is now owned by Virgin Money), followed by Bradford & Bingley; Alliance & Leicester was acquired by Santander, who merged it into Santander UK. On 18 September 2008, Lloyds TSB plc entered into a confirmed agreement to take over HBOS plc, which took effect on 19 January 2009, when HBOS was acquired and folded into Lloyds Banking Group.[1][2][3]
The retail and commercial banking markets are dominated by HSBC, Barclays, Lloyds Banking Group, NatWest Group and Spanish-owned Santander UK (most of these companies operate more than one banking brand in the UK).
Bank | Headquarters | Market value (£bn) As of 31 May 2019[4] |
Total assets (£bn) As of 31 December 2018[5] |
---|---|---|---|
HSBC Holdings | London, England | 131 | 1,998 |
Lloyds Banking Group[a] | London, England | 40 | 794 |
NatWest Group[b] | Edinburgh, Scotland | 26.2 | 691 |
Barclays | London, England | 25 | 873 |
- ^ Includes Lloyds Bank and Bank of Scotland (including Halifax, Birmingham Midshires and Intelligent Finance).
- ^ Includes NatWest, the Royal Bank of Scotland and Ulster Bank. The UK government owns a stake of 62% of NatWest Group's ordinary shares, but the bank remains nominally independent of government[6]
Banks incorporated in the UK[]
A full list of businesses considered banks by the Prudential Regulation Authority are listed in the table below. The list is based on the definition of 'bank' in the glossary of the PRA Handbook.[7]
Name of bank | Parent company | Location of headquarters (Parent where applicable) |
---|---|---|
Abbey National Treasury Services plc | Santander Group | Spain |
ABC International Bank plc | Arab Banking Corporation | Bahrain |
The Access Bank UK Limited | Access Bank Group | Nigeria |
ADIB (UK) Ltd | Abu Dhabi Islamic Bank | United Arab Emirates |
Ahli United Bank (UK) plc | Ahli United Bank | Bahrain |
AIB Group (UK) plc | Allied Irish Banks | Republic of Ireland |
Al Rayan Bank plc | Qatar | |
Aldermore Bank plc | FirstRand | South Africa |
Alliance Trust Savings Limited | Alliance Trust | Scotland |
Allica Bank | Independently run | England |
Alpha Bank London Limited | Alpha Bank | Greece |
ANZ Bank (Europe) Limited | Australia and New Zealand Banking Group | Australia |
Arbuthnot Latham & Co Limited | Arbuthnot Banking Group | England |
Atom Bank plc | Independently run | England |
Axis Bank UK Limited | Axis Bank | India |
Bank and Clients plc | Luxembourg | |
Bank Leumi (UK) plc | Bank Leumi | Israel |
Bank Mandiri (Europe) Limited | Bank Mandiri | Indonesia |
Bank of America Merrill Lynch International Limited | Bank of America | United States of America |
Bank of Baroda (UK) Ltd | Bank of Baroda | India |
Bank of Beirut (UK) Ltd | Bank of Beirut | Lebanon |
Bank of Ceylon (UK) Ltd | Bank of Ceylon | Sri Lanka |
Bank of China (UK) Ltd | Bank of China | China |
Bank of Communications (UK) Limited | Bank of Communications | China |
Bank of Cyprus UK Limited | Bank of Cyprus | Cyprus |
Bank of India UK | Bank of India | India |
Bank of Ireland (UK) Plc | Bank of Ireland | Republic of Ireland |
Bank of London, The | Independently run | United Kingdom |
Bank of London and The Middle East plc | Independently run | England |
The Bank of New York Mellon (International) Limited | The Bank of New York Mellon | United States of America |
Bank of Scotland plc | Lloyds Banking Group | Scotland |
Bank of the Philippine Islands (Europe) plc | Bank of the Philippine Islands | Philippines |
Bank Saderat plc | Bank Saderat Iran | Iran |
Bank Sepah International plc | Bank Sepah | Iran |
Barclays Bank plc | Barclays | England |
Bahrain | ||
Independently run | England | |
BMCE Bank International plc | BMCE Bank International | England |
British Arab Commercial Bank plc | British Arab Commercial Bank | England |
Brown Shipley & Co Limited | KBL European Private Bankers | Luxembourg |
C. Hoare & Co | Independently run | England |
CAF Bank Ltd | Independently run | England |
Cambridge & Counties Bank Limited | 50% by Trinity Hall, a Cambridge University college, and 50% by Cambridgeshire Local Government Pension Scheme | England |
Cashplus Bank | Advanced Payment Solutions Limited | England |
Cater Allen Limited | Santander Group | Spain |
Charity Bank Limited | Independently run | England |
Charter Court Financial Services Limited | Independently run | England |
China Construction Bank (London) Limited | China Construction Bank | China |
CIBC World Markets plc | CIBC World Markets | Canada |
Independently run | England | |
Close Brothers Limited | Close Brothers Group | England |
Clydesdale Bank plc | Virgin Money UK plc | England |
Commercial and Northern Ltd | Independently run | England |
The Co-operative Bank plc | Independently run | England |
Coutts & Company | NatWest Group | Scotland |
Credit Suisse (UK) Limited | Credit Suisse | Switzerland |
Credit Suisse International | Credit Suisse | Switzerland |
Crown Agents Bank Limited | Helios Investment Partners | England |
DB UK Bank Limited | Deutsche Bank | Germany |
Diamond Bank (UK) plc | Diamond Bank | Nigeria |
Duncan Lawrie Limited | Camellia plc | England |
EFG Private Bank Limited | EFG International | Switzerland |
Europe Arab Bank plc | Arab Bank | Jordan |
FBN Bank (UK) Ltd | First Bank of Nigeria | Nigeria |
FCE Bank plc | Ford Motor Credit Company | United States of America |
FCMB Bank (UK) Limited | First City Monument Bank | Nigeria |
Gatehouse Bank plc | Independently run | England |
GE Capital Bank Limited | GE Capital | United States of America |
Ghana International Bank plc | Independently run | England |
Goldman Sachs International Bank | Goldman Sachs | United States of America |
Guaranty Trust Bank (UK) Limited | Guaranty Trust Bank | Nigeria |
Gulf International Bank (UK) Limited | Gulf International Bank | Bahrain |
Habib Bank Zurich Plc | Habib Bank AG Zurich | Switzerland |
Habibsons Bank Limited | Habib Bank Limited | Pakistan |
Hampden & Co Plc | Independently run | Scotland |
Hampshire Trust Bank Plc | Independently run | England |
Havin Bank Ltd | Independently run | England |
HSBC Bank Plc | HSBC | England |
HSBC Private Bank (UK) Limited | HSBC | England |
HSBC Trust Company (UK) Ltd | HSBC | England |
ICBC (London) plc | Industrial and Commercial Bank of China | China |
ICBC Standard Bank Plc | Industrial and Commercial Bank of China | China |
ICICI Bank UK Plc | ICICI Bank | India |
Investec Bank PLC | Investec | South Africa |
Itau BBA International PLC | Itaú Unibanco | Brazil |
J.P. Morgan Europe Limited | J.P. Morgan | England |
J.P. Morgan International Bank Limited | J.P. Morgan | England |
J.P. Morgan Securities plc | J.P. Morgan | England |
Jordan International Bank Plc | The Housing Bank for Trade and Finance | Jordan |
Julian Hodge Bank Limited | Independently run | Wales |
Kexim Bank (UK) Ltd | Export–Import Bank of Korea | South Korea |
Kingdom Bank Ltd | Assemblies of God Property Trust | England |
SG Kleinwort Hambros Bank Limited | Société Générale | France |
Kookmin Bank International Limited | KB Kookmin Bank | South Korea |
Lloyds Bank Plc | Lloyds Banking Group | England |
Lloyds Bank Private Banking Limited | Lloyds Banking Group | England |
Macquarie Bank International Ltd | Macquarie Group | Australia |
Marks & Spencer Financial Services Plc | HSBC Bank plc | England |
Masthaven Bank Limited | Independently run | England |
Melli Bank plc | Bank Melli Iran | Iran |
Methodist Chapel Aid Limited | Independently run | England |
Metro Bank PLC | Independently run | England |
MUFG | Mitsubishi UFJ Financial Group, Inc. | Japan |
Mizuho International Plc | Mizuho Financial Group | Japan |
Monzo Bank Ltd | Independently run | England |
Morgan Stanley Bank International Limited | Morgan Stanley | United States of America |
National Bank of Egypt (UK) Limited | National Bank of Egypt | Egypt |
National Bank of Kuwait (International) Plc | National Bank of Kuwait | Kuwait |
National Westminster Bank Plc | NatWest Group | England |
Nomura Bank International Plc | Nomura Group | Japan |
Northern Bank Limited | Danske Bank | Denmark |
Northern Trust Global Services Ltd | Northern Trust | United States of America |
OakNorth Bank Limited | Independently run | England |
OneSavings Bank Plc | OneSavings Bank | England |
Paragon Bank Plc | Paragon Banking Group | England |
PCF Group Plc | Independently run | England |
Persia International Bank Plc | Bank Mellat | Iran |
Philippine National Bank (Europe) Plc | Philippine National Bank | Philippines |
Punjab National Bank (International) Limited | Punjab National Bank | India |
QIB (UK) Plc | Qatar Islamic Bank | Qatar |
R. Raphael & Sons Plc | Lenlyn Holdings Plc | England |
Rathbone Investment Management Limited | Independently run | England |
RBC Europe Limited | RBC Capital Markets | Canada |
Reliance Bank Ltd | Independently run | England |
Royal Bank of Scotland Plc, The | NatWest Group | Scotland |
Sainsbury's Bank Plc | Independently run | Scotland |
Santander UK Plc | Santander Group | Spain |
Schroder & Co Ltd | Independently run | England |
Scotiabank Europe Plc | Scotiabank | Canada |
Scottish Widows Bank Plc | Lloyds Banking Group | Scotland |
Secure Trust Bank Plc | Independently run | England |
Shawbrook Bank Limited | Independently run | England |
Smith & Williamson Investment Services Limited | Independently run | England |
Sonali Bank (UK) Limited | 51% of the shares are held by Bangladesh Government and 49% by Sonali Bank Ltd, Bangladesh | Bangladesh |
Standard Chartered Bank | Independently run- it does not conduct retail banking in the UK. The bank operates primarily in Asia and Africa. | England |
Starling Bank Limited | Independently run | England |
State Bank of India (UK) Limited | State Bank of India | India |
Sumitomo Mitsui Banking Corporation Europe Limited | Sumitomo Mitsui Financial Group | Japan |
Tandem Bank Limited | Tandem Money Limited | England |
TD Bank Europe Limited | Toronto-Dominion Bank | Canada |
Tesco Personal Finance Plc | Independently run | England |
TSB Bank plc | Banco Sabadell | Spain |
Turkish Bank (UK) Ltd | The Turkish Bank Group | Turkey |
UBS Limited | UBS | Switzerland |
Ulster Bank Ltd | NatWest Group | Ireland |
Union Bank of India (UK) Limited | Union Bank of India | India |
Union Bank UK Plc | Union Bank of Nigeria | Nigeria |
United National Bank Limited | United Bank (Pakistan) | Pakistan |
United Trust Bank Limited | Independently run | England |
Unity Trust Bank Plc | Independently run | England |
Vanquis Bank Limited | Provident Financial | England |
Virgin Money | Virgin Money UK plc | England |
VTB Capital plc | VTB Bank | Russia |
Weatherbys Bank Limited | Weatherbys | England |
Wesleyan Bank Limited | Wesleyan Assurance Society | England |
Westpac Europe Ltd | Westpac | Australia |
Wyelands Bank Plc | GFG Alliance | England |
Yorkshire Bank | Virgin Money UK plc | England |
Zenith Bank (UK) Limited | Zenith Bank | Nigeria |
Zopa Bank Ltd | Independently run | England |
There is also a government-run savings bank called National Savings and Investments.
British retail banks[]
These banks provide retail services to the general public. Retail banks are usually known as High street banks because they have multiple branch locations located in the commercial part of cities and towns across the UK. Four British retail banks have no physical branch presence, however.
The retail and commercial banking markets are dominated by five big banks. HSBC, Barclays, Lloyds Banking Group, NatWest Group and Spanish-owned Santander UK who operate more than one banking brand in the UK.
Bank | Year
Est. |
Headquarters | Total assets (£bn) | Staff | Branches
in UK |
---|---|---|---|---|---|
Atom Bank | 2013 | Durham, United Kingdom | 2.8[8] | 357[9] | Online only |
Bank of Ireland UK | 1783 | London, England | 1,700 | ||
Barclays | 1690 | London, England | 873 | 1,542 | |
HSBC UK | 1865 | London, England | 1,998 | 511 | |
Danske Bank UK | 1824 | Belfast, Northern Ireland | |||
Lloyds Banking Group†[a] | 2009 | Edinburgh, Scotland, Registered office
London, England, Operational headquarters |
794 | ||
Metro Bank | 2010 | London, England | 21.6 | 2,831 | 77 |
Monzo | 2015 | London, England | 0.6 | 1,600 | Online only |
NatWest Group††[b] | 1968 | Edinburgh, Scotland | 691.0 | ||
Santander Bank | 2010 | London, England | 231 | 25,872 | 857 |
Starling Bank | 2014 | London, England | 1.2[11] | Online only | |
Tandem Bank | 2015 | London, England | 0.5[12] | Online only | |
The Cooperative Bank | 1872 | Manchester, England | 25.5[13] | 3,350 | 152[14] |
TSB Bank | 1810 | Edinburgh, Scotland | 7,000 | 536 | |
Virgin Money (Clydesdale Bank & Yorkshire Bank) | 1995 | Newcastle Upon Tyne, England | 90.5 | 79 |
- ^ Includes Lloyds Bank and Bank of Scotland (including Halifax, Birmingham Midshires and Intelligent Finance).
- ^ Includes NatWest, the Royal Bank of Scotland and Ulster Bank. The UK government owns a stake of 62% of NatWest Group's ordinary shares, but the bank remains nominally independent of government[10]
The list of retail banks shrank significantly as a result of the 2007/2008 Global Financial Crisis (GFC).
Northern Rock which was a building Society before becoming a bank in 1997, failed following the first bank run in the UK in 150 years. It was nationalised by the UK Government on 22 February 2008 and then sold to Virgin Money on 1 January 2012.
Bradford & Bingley was nationalised in 2008 and sold to Abbey National who rebranded Santander on 11 January 2010. They also acquired Alliance & Leicester and merged into Santander UK in 2010.
On 18 September 2008, Lloyds TSB plc entered into a confirmed agreement to take over HBOS plc, which took effect on 19 January 2009, when HBOS was acquired and folded into Lloyds Banking Group.[15][2][16]
Retail banks owned by retailers[]
There are a number of other retail banking businesses owned by retailers including:
- Post Office Money, the trading name used by Post Office Ltd for its branded financial products, most of which are provided by Bank of Ireland UK
- Sainsbury's Bank, owned by British supermarket company Sainsbury's.
- Tesco Bank, owned by British supermarket company Tesco.
- Harrods Bank was acquired by Tandem Money Limited on 11 January 2018
UK banking brands owned by foreign banks[]
- Allied Irish Bank (GB) and First Trust Bank, owned by AIB Group of the Republic of Ireland
- Al Rayan Bank, owned by of Qatar
- Axis Bank UK, owned by Axis Bank of India
- Bank of Ceylon (UK), owned by Bank of Ceylon of Sri Lanka
- Bank of Baroda (UK), owned by Bank of Baroda of India
- Bank of China (UK), owned by Bank of China
- Bank of India (UK), owned by Bank of India
- Bank Sepah International plc, owned by Bank Sepah of Iran
- FCMB Bank (UK) Limited, owned by First City Monument Bank of Nigeria
- Zenith Bank (UK), owned by Zenith Bank of Nigeria
- Bank of Ireland UK, owned by Bank of Ireland of the Republic of Ireland; one of the leading banks in Northern Ireland, and present in Great Britain to a lesser extent
- Citibank (UK), owned by Citigroup of the United States
- ICBC (London) plc, by Industrial and Commercial Bank of China
- ICICI Bank (UK), owned by ICICI Bank of India
- Danske Bank (formerly Northern Bank), owned by Danske Bank of Denmark
- Punjab National Bank (International), owned by Punjab National Bank of India
- Santander UK (formerly Abbey, Alliance & Leicester and Bradford & Bingley), owned by Santander Group of Spain
- SEB (UK), owned by Skandinaviska Enskilda Banken, Sweden
- Silicon Valley Bank UK, owned by Silicon Valley Bank of the United States
- State Bank of India (UK), owned by State Bank of India
- Svenska Handelsbanken, UK Branch
- The Bank of East Asia, UK Branch
- TSB Bank, part of Sabadell Group, headquartered in Spain
- Union Bank of India (UK) Ltd, owned by Union Bank of India of India
- United Bank UK, owned by United Bank Limited of Pakistan
Building societies in the UK[]
The other main class of consumer financial service organisation in the United Kingdom is the building society. The building society sector has become much smaller with fewer building societies. This was caused, firstly, a number of building societies demutualising in the 1980s and 1990s and subsequently, taken over by banks. Secondly, there has been ongoing consolidation via mergers between societies.
There are 42 building societies in the UK as of 2021 which provide retail banking services to the general public. The five largest as of October 2020 are:
Name | Year
Est. |
Headquarters | Total
Assets (£bn) |
Employees | Branches |
---|---|---|---|---|---|
Nationwide | 1846 | Swindon, England, UK | 208[17] | 18,333 | 1,700 |
Coventry Building Society | 1884 | Coventry, England, UK | 49 | 2,700 | 89 |
Yorkshire Building Society
(also own Chelsea Building Society, Norwich and Peterborough Building Society, and Egg) |
1864 | Bradford, West Yorkshire, England | 39.6 | 3,300 | 231 |
Skipton Building Society | 1853 | Skipton, England | 17.5 | 1,772 | 98 |
Leeds Building Society | 1875 | Leeds, England | 20.8 | 1,426 | 65 |
See also[]
- 2008 United Kingdom bank rescue package
- 2009 United Kingdom bank rescue package
- Banking in the United Kingdom
- Building society
- List of building societies in the United Kingdom
- Category:Banks of British Overseas Territories
- Category:Defunct banks of the United Kingdom
References[]
- ^ "Lloyds TSB confirms deal to take over HBOS". 18 September 2008. Retrieved 18 September 2008.
- ^ a b "Recommended acquisition of HBOS plc by Lloyds TSB Group plc" (PDF). Lloyds TSB. 17 September 2008. Archived from the original (PDF) on 23 September 2008. Retrieved 18 September 2008.
- ^ BBC News: HBOS confirms Lloyds merger talks; Guardian: Banking crisis: Lloyds TSB in talks to buy HBOS
- ^ "Statista - Leading banks in Europe as of May 2019, by market capitalization". Statista. 8 December 2019. Retrieved 8 December 2019.
- ^ "Statista - Leading banks in Europe 2018, by total assets". Statista. Statista. Retrieved 8 December 2019.
- ^ "RBS shares plunge on record loss". BBC News. 19 January 2009. Retrieved 8 May 2010.
- ^ "Banks & building societies lists - Bank of England". www.bankofengland.co.uk.
- ^ "Atom Bank: total assets 2019". Statista. Retrieved 8 June 2021.
- ^ "Atom Bank Annual Report 19-20" (PDF).
{{cite web}}
: CS1 maint: url-status (link) - ^ "RBS shares plunge on record loss". BBC News. 19 January 2009. Retrieved 8 May 2010.
- ^ "Starling Bank Assets 2019".
{{cite web}}
: CS1 maint: url-status (link) - ^ "Tandem Bank: total assets 2018". Statista. Retrieved 8 June 2021.
- ^ "The Cooperative Bank Annual Report for Year ended 2020" (PDF). 8 June 2021.
{{cite web}}
: CS1 maint: url-status (link) - ^ "Opening times - The Co-operative Bank. Find your branch". www.bank-opening-times.co.uk. Retrieved 8 June 2021.
- ^ "Lloyds TSB confirms deal to take over HBOS". 18 September 2008. Retrieved 18 September 2008.
- ^ BBC News: HBOS confirms Lloyds merger talks; Guardian: Banking crisis: Lloyds TSB in talks to buy HBOS
- ^ "Sneddon, Hutchison Burt, (17 April 1929–7 November 2009), JP; Lord-Lieutenant of Lanarkshire, 1992–99; former Scottish Divisional Director, Nationwide Anglia Building Society (formerly Nationwide Building Society)". Who Was Who. Oxford University Press. 1 December 2007. Retrieved 8 June 2021.
External links[]
- Banks of the United Kingdom
- Lists of banks by country
- Lists of companies of the United Kingdom by industry
- Lists of banks in Europe