In recent years, the British Banking system has become highly concentrated due to the wave of mergers following the credit crunch.
Top 5 British Owned banks
|Bank||Market value (£bn)|
As of October 2013
As of 31 March 2017
|2. Lloyds Banking Group|
(Bank of Scotland/Halifax)
|4. Royal Bank of Scotland Group|
Natwest, Ulster Bank
|5. Standard Chartered||36.7||526|
- Co-operative Bank owned by The Co-operative Group.
- Sainsbury’s Bank: 50% owned by British supermarket company Sainsbury’s and 50% owned by Lloyds Banking Group.
- Tesco Bank: owned by British supermarket company Tesco.
- Post Office Money
Government Ownership of UK Banks
- Royal Bank of Scotland Group 73% owned by government
- Lloyds Banking group 43% owned by government
10 Largest UK Retail Banks
- Royal Bank of Scotland
- Lloyds TSB
- Halifax (owned by Lloyds)
- Bank of Scotland (owned by Lloyds)
- Santander (Spanish Owned) (was Abbey, also incorporated Bradford & Bingley)
- Nationwide (classed as building society)
- Tesco bank
Top 40 UK banks
- Abbey National plc (part of the Santander Group) is the sixth biggest bank and one of the largest providers of mortgages and savings in the UK.
- ABC International Bank PLC
- Adam & Company (Private Bank)
- Airdrie Savings Bank Founded on 1 January 1835 as part of the general “thrift” movement prevalent at the time.
- Alliance & Leicester (part of the Santander Group)
- Arbuthnot Latham Founded in the City of London, 1833.
- Bank of England The central bank of the United Kingdom. Founded in 1694, nationalised on 1 March 1946,
- Bank of Scotland Commercial and clearing bank based in Edinburgh, Scotland.
- Barclays Bank (major global bank)
- Bradford & Bingley headquarters in the West Yorkshire town of Bingley.
- Butterfield Private Bank (private banking established 1965)
- C.Hoare & Co Private bank founded in 1672,
- Carnegie Investment Bank AB independent Nordic investment bank.
- Cater Allen Private Bank – Private Bank was founded in 1815 now operates as a subsidiary of Abbey National plc (ENG).
- Clydesdale Bank PLC – established in 1838 in Glasgow
- Co-operative Bank plc commercial bank
- Coutts & Co UK private banking arm of the Royal Bank of Scotland. (banker to the Queen)
- Deutsche Bank UK – global investment bank
- Duncan Lawrie Ltd – Grew out ofon British India Company
- Egg Banking plc – internet bank established in 1996
- Halifax – a brand name of Bank of Scotland, a subsidiary of the Lloyds Banking Group.
- Handelsbanken is a universal bank that supplies services within the entire banking area.
- HSBC Bank plc is one of the major clearing banks in the United Kingdom. Biggest bank by assets. et roles of personal finance and commercial …
- ICICI Bank UK Limited is a wholly owned subsidiary of India’s largest private sector bank, ICICI Group
- ING Direct – world’s leading direct savings bank
- Julian Hodge Bank
- Kingdom Bank is a UK-based independent Christian bank
- Kleinwort Benson – investment bank
- Lloyds TSB
- Cheltenham & Gloucester (C&G) part of Lloyds Bank Group.
- National Westminster Bank Plc, – commercial bank part of The Royal Bank of Scotland Group Plc
- Northern Bank (Founded 1809 based in Belfast )
- Northern Rock plc British bank, under public ownership from 2008.
- Raphaels Bank – independent banking houses Founded in 1787 by Dutchman.
- Reliance Bank Limited – Established in 1890, when it was known as The Salvation Army Bank,
- Santander UK plc is a British bank – owned by the Spanish Santander Group.
- Standard Chartered Bank Formed in 1969 through a merger of two banks: The Standard Bank of British South Africa and the Chartered Bank of India, Australia and China.
- The Co-operative Bank
- The Royal Bank of Scotland
- Whiteaway Laidlaw Bank – specialise in banking to small business
- Yorkshire Bank
Source: List of banks in the UK
Some interesting facts about British banks.
- They employ 0.5 million people
- Banks and financial services contribute £70bn to the UK’s national output (6.8% of GDP)
- Banks and financial services provide 25% of total corporation tax (£8bn) to the UK Gov
- The main retail banks provide over 125m accounts, clear 7bn transactions a year and facilitate 2.3bn cash withdrawals per year from its network of over 30,000 free ATMs
- Banks provide banking services to 95% of the UK’s population
- The value of foreign exchange business passed through London every day is £560bn ($1 trillion)
Source: Top 10 British Bank facts at BBA
Banks Definition at economics dictionary