Top 10 Largest Bank in the U.K

Banking in the United Kingdom emerged in the 16th century. Most of the top Largest Banks in the UK were formed two decades ago. The Industrial Revolution and increasing international trade have been the primary reason for the burgeoned establishment of banks in the United Kingdom.

Putting your money with one of the largest banks generally means you’ll have more access to in-person services at branches, a large ATM network, and a wide array of products and services, which can be convenient if you’re looking to do all your banking in one place.

To find the largest banks in the U.K., we looked at domestic asset sizes of institutions that serve both consumers and small businesses. The list includes retail banks for personal banking, rather than investment banks. A bank’s assets include, among other things, the number of its loans, mortgages, and credit card accounts. Some of these banks have thousands of branches, while others are mostly or exclusively online. All of these banks are FDIC-insured.

Based on asset size, here in this article, RNN will highlight the top 10 largest banks in the U.K according to the Federal Reserve.

1. HSBC Holdings

HSBC Holdings was founded in 1880, the bank is headquartered in London. The bank employs around 85,000 individuals (including subsidiaries). It operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments.

This bank is at the Top of the list of Largest Banks in the U.K.

As of September 30, 2021, it manages 511 branches of banks in the UK and another eight branches in the Isle of Man and the Channel Islands.

Total assets: USD 2.96 trillion.

2. Barclay’s PLC

Barclay’s PLC was established in 1690. The bank provides retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services. Headquartered in London, it employs around 83,000 staff.

This bank is the second on the list of Largest Banks in the U.K and the Twelveth in the World.

Total assets: USD 1.38 trillion.

3. Royal Bank of Scotland

Royal Bank of Scotland was founded in 1695, and is headquartered in Edinburgh. The bank employs around 27,000 individuals. It operates as one of the banks in the UK through Personal and Business Banking, Ulster Bank RoI, Commercial Banking, Private Banking, RBS International, NatWest Markets, Capital Resolution, Williams & Glyn, and Central Items and Other segments.

Total assets: USD 310.3 billion.

4. Lloyds Banking Group

Lloyd’s Banking Group was established in 1695, Lloyds is one of the oldest operating banks in the UK. Headquartered in London, the bank employs around 61,000 individuals. Although it provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands to individual and business customers in the UK and abroad.

Total assets: USD 869.50 billion.

5. Standard Chartered PLC

Standard Chartered Plc was established in 1893, the bank operates through Corporate and Institutional Banking, Retail Banking, Commercial Banking, and Private Banking segments. Headquartered in London, it employs around 82,000 staff. As of 2021, it operated 1,026 branches in the United Kingdom and 13 branches in the Isle of Man and the Channel Islands.

Total assets: USD 804.90 billion.

6. Santander UK

Santander Bank was founded in 1988, the bank employs around 21,600 individuals. It operates through Retail Banking, Commercial Banking, and Global Corporate Banking segments.

Headquartered in London, Santander manages a network of 841 branches and 67 corporate business centres and also operates through ATMs, telephony, digital, mobile, Internet, and intermediary channels.

Total assets: USD 287.6 billion.

7. Nationwide Building Society

Nationwide Building Society was founded in 1846, the bank operates through its Retail and Commercial segments. Headquartered in Swindon, the bank employs around 13,000 staff.

Also, the bank provides current and savings accounts, ISA accounts, residential mortgages, commercial real estate loans, project finance, social housing, personal and car loans, home improvement loans, and loans to housing associations. It also offers protection and investment products, financial planning services, credit cards, current account overdrafts, and treasury, liquidity, and discretionary services.

Total assets: USD 254.91 billion.

8. Schroders

Schroders was created in 1804 and is headquartered in London. The bank employs around 5,000 individuals. It operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. It manages 41 offices in 27 countries in Europe, America, Asia, Africa, and the Middle East.

Total assets: USD 574.4 billion (2020)

9. Close Brothers

Close Brothers bank was established in 1920 and headquartered in London. The bank employs over 3,000 staff. It operates through its Retail, Commercial, and Property divisions.

The Retail division provides intermediate financing, principally to individuals, through motor dealers, insurance brokers, and retailers. The Commercial division offers secured lending to the SME market. The Property division provides residential development financing to professional developers.

Total assets: USD 11.1 billion.

10. Coventry Building Society

Coventry Building Society was established in 1884 and headquartered in London. The bank provides a wide range of building and financial services. It offers financial planning services, mortgages, investment services, savings products, brokerage services, as well as insurance products such as travel insurance. The bank employs around 2,700 individuals.

Total assets: USD 5.5 billion.

The Infographics of the Top Largest Banks in the UK are shown below