List of Banks in United Kingdom

The United Kingdom has a strong and diverse banking sector, comprising major multinational banks, domestic retail banks, and specialized lenders. The banking landscape is dominated by several well-established players, including HSBC, Barclays, Lloyds Banking Group, and NatWest Group, alongside emerging challenger banks and specialist lenders.

In this article, we will look into the list of banks in the United Kindom in detail. Let’s start.

List of Banks in the United Kingdom

Bank Name	Headquarters	Total Assets (in £ billion)	Established
HSBC	Holdings plc London	3,022.9	1865
Barclays PLC	London	1,634.4	1690
Lloyds Banking Group PLC	London	852.5	1765
NatWest Group PLC	Edinburgh	837.5	1727
Standard Chartered PLC	London	750.8	1853
Santander UK PLC	London	346.6	1857
Virgin Money UK PLC	Glasgow	83.8	1995
TSB Banking Group PLC	Edinburgh	38.7	1810
Metro Bank PLC	London	22.5	2010
Shawbrook Bank Limited	London	8.9	2011

1. HSBC – London

HSBC is one of the largest banking and financial services organizations globally. Headquartered in London, it operates across 64 countries and territories.

• HSBC provides a wide range of services, including retail banking, commercial banking, private banking, and investment banking. With a strong presence in Europe, Asia, and the Americas, HSBC caters to individual and corporate clients worldwide.
• Its retail banking division offers various products like checking and savings accounts, mortgages, loans, and credit cards.
• HSBC’s commercial banking arm serves businesses of all sizes with services like trade finance, cash management, and corporate lending.
• The bank’s investment banking unit, known as HSBC Global Banking and Markets, provides advisory, financing, and risk management solutions to corporates and institutions.

2. Barclays PLC – London

Barclays is a British multinational universal bank, providing retail, corporate, and investment banking services.

• It has operations in over 40 countries, with a focus on the UK and the Americas.
• Barclays’ retail banking division offers personal banking products like current accounts, savings, mortgages, and credit cards to individual customers.
• ts corporate banking arm serves businesses with services like lending, transaction banking, and risk management solutions.
• Barclays’ investment bank, Barclays Corporate & Investment Bank, offers advisory, financing, and risk management services to institutional clients globally.
• The bank has a strong presence in investment banking activities like mergers and acquisitions, equity and debt capital markets, and trading.

3. Lloyds Banking Group PLC – London

Lloyds Banking Group is one of the largest domestic banks in the UK, formed through the acquisition of HBOS by Lloyds TSB in 2009.

• It offers a wide range of banking and financial services, including retail, commercial, and insurance services.
• The group’s retail division provides personal banking products like current accounts, savings, mortgages, and credit cards to individual customers.
• Its commercial banking arm serves businesses of all sizes with services like lending, trade finance, and cash management.
• Lloyds Banking Group also offers insurance products, including life, home, and car insurance, through its subsidiaries like Scottish Widows.
• The group has a strong presence in the UK and operates through various brands, including Lloyds Bank, Halifax, and Bank of Scotland.

4. NatWest Group PLC (formerly Royal Bank of Scotland Group) – Edinburgh

One of the largest banks in the UK and a major global banking company. It provides personal, commercial, and investment banking services.

• NatWest’s personal banking offers current accounts, savings, mortgages, loans, and credit cards.
• The commercial banking division serves businesses with lending, transaction services, and risk management solutions.
• The investment banking arm, NatWest Markets, offers services like debt financing, risk management, and trading.

5. Standard Chartered PLC – London

A British multinational bank focusing on emerging markets in Asia, Africa, and the Middle East.

• It offers corporate, institutional, and consumer banking services.
• The corporate & institutional banking division provides services like lending, trade finance, cash management, and foreign exchange.
• The consumer banking arm offers retail products like bank accounts, mortgages, wealth management services.

6. Santander UK PLC – London

A wholly-owned subsidiary of the Spanish Santander Group, providing retail and commercial banking services in the UK.

• It operates through brands like Santander, Abbey, and Alliance & Leicester.
• The retail banking division offers personal banking products, mortgages, investments, and insurance.
• The commercial banking arm serves businesses with lending, trade, and treasury services.

7. Virgin Money UK PLC – Glasgow

Formed in 2018 through CYBG’s acquisition of Virgin Money.

• It offers personal, business, and investment banking services under the Virgin Money brand.
• Personal banking includes current accounts, savings, mortgages, and credit cards. Business banking provides lending, deposit accounts, and treasury services for companies.

8. TSB Banking Group PLC – Edinburgh

A retail and commercial bank separated from Lloyds Banking Group in 2013.

• It operates through branches and digital channels.
• TSB offers personal banking products like current accounts, savings, mortgages, and loans.
• Its business banking serves companies with lending, transaction banking, and other services.

9. Metro Bank PLC – London

The first new high-street bank in the UK in over 100 years, known for customer-focused services and convenient branches.

• It provides retail, commercial, and private banking.
• Personal banking includes current accounts, savings, mortgages, and loans.
• Commercial banking serves businesses with lending, deposit accounts, and cash management.

10. Shawbrook Bank Limited – London

A specialist UK bank focusing on lending and savings products.

• It offers services to small and medium businesses, as well as personal banking primarily through intermediaries rather than branches.
• Products include specialist lending, property finance, savings accounts, and personal loans.

Conclusion – List of Banks in the United Kingdom

The United Kingdom has a well-established and diverse banking sector, with a mix of large multinational banks, retail banks, and specialist lenders. These banks play a crucial role in supporting the UK’s economy and providing a wide range of financial services to individuals, businesses, and institutions.

FAQs on List of Banks in United Kingdom

What is the largest bank in the UK?

The largest bank in the UK by total assets is HSBC Holdings plc, with total assets of £3,022.9 billion as of 2022.

Which banks are considered the “Big Four” in the UK?

The “Big Four” banks in the UK are HSBC, Barclays, Lloyds Banking Group, and NatWest Group.

What is a challenger bank in the UK?

A challenger bank is a relatively new and smaller bank that aims to challenge the dominance of established and larger banks in the UK. Examples include Metro Bank, Virgin Money UK, and Shawbrook Bank.

Are there any state-owned banks in the UK?

There are no state-owned banks in the UK. However, the UK government holds a stake in NatWest Group PLC (formerly known as Royal Bank of Scotland Group) after the bank’s bailout during the 2008 financial crisis.

What is the role of the Bank of England in the UK banking system?

The Bank of England is the central bank of the United Kingdom. It is responsible for setting monetary policy, supervising and regulating banks and financial institutions, issuing currency, and maintaining financial stability in the UK.