Top Banks In UK

The UK is the number one center for banks in Europe. There are around 300 banks and 45 building societies in the UK. Since the banking sector of the UK is quite large, it stands at the fourth position in size in the map of the world.

The banking sector of the UK can be divided into three specific categories. Let’s have a look at them –

  • High Street Banks: These banks are meant for the general public. They offer financial products and services to the public.
  • Business Banks: To the selected few of the general public, business banking services are being provided. Among high street banks, few offer business banking along with the general financial products and services.
  • Investment banks: High street banks don’t provide investment banking services. They use the help of other financial institutions that provide investment banking services to the customers of high street banks.

1. HSBC Holdings

This is the biggest bank of the UK as of now in terms of total assets. At the end of June 2017, the total assets acquired by this bank were GBP 1916.70 billion. This is also the world’s largest financial services company. The Bank has employed over 230,000 employees and it has been serving around 46 million customers. It has a presence in Asia, Africa, Europe, the US, and the Middle East. It has a presence in over 71 countries. The head-quarter of this bank is located in London.

2. Barclays

This is the second-largest bank in the UK as of now in terms of total assets. At the end of June 2017, the total assets acquired by this bank were GBP 1135.32 billion. They have given employment to around 130,000 people and it has been serving around 48 million customers. It has a presence in over 50 countries including Brazil, Canada, USA, Mexico, Puerto Rico, etc. It has acquired many banks and financial businesses; the noteworthy acquisitions are acquiring Lehman Brothers in 2008 and acquiring the credit card business of City bank in 2010. The head-quarter of this bank is located in London.

3. Lloyds Banking Group

This is the third-largest bank in the UK as of now in terms of total assets. At the end of June 2017, the total assets acquired by this bank were GBP 814.919 billion. It has employed around 77,000 people and it has been serving around 30 million customers. Lloyd Banking Group has been the largest retail bank in the UK. It is also considered as the third largest insurance provider in the UK. The head-quarter of this banking group is situated in London.

4. Royal Bank of Scotland

This is the fourth largest bank in the UK as of now in terms of total assets. At the end of June 2017, the total assets acquired by this bank were GBP 782.654 billion. It has employed around 75,000 people and it has been serving around 24 million customers. In 2008, the UK Government had become the majority shareholder of the bank by taking around 58% stake. The head-quarter of this bank is located in Edinburg.

5. Standard Chartered

This is the fifth largest bank in the UK as of now in terms of total assets. At the end of June 2017, the total assets acquired by this bank were GBP 505.731 billion. This is one of the largest banks of the world and it has a noteworthy presence in the UK too. It has a presence in over 70 countries and it has been serving its customers through 1100 branches worldwide. It has been nominated as among the top 20 companies as per the market value according to FTSE-100. The head-quarter of this bank is situated in London.

source: wallstreetmojo.com

Posted By, Shubham Sharma

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