Top 7 Largest Banks in the UK
The banking sector in the United Kingdom is a major contributor to the country's economy, and some of the world's largest banks are based there. This article ... read more...provides an overview of the UK's largest banks and examines how they have grown over the years.
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HSBC Holdings plc is a global bank and financial services holding company based in the United Kingdom. As of December 2021, it has more overall assets than BNP Paribas, making it the biggest bank in Europe. In 2021, HSBC had $10.8 trillion in assets in its care and $4.9 trillion in assets it was responsible for. HSBC began as a hong in British Hong Kong. In 1991, the Hongkong and Shanghai Banking Corporation set up its current form in London as a new group holding company. Its name comes from the letters of that company. In 1865, the Hongkong and Shanghai Banking Corporation set up branches in Shanghai. In 1866, it became a legal business.
HSBC has offices in 64 countries and regions in Africa, Asia, Oceania, Europe, North America, and South America. They serve about 40 million customers. As of 2022, Forbes placed it as the 38th largest company in the world based on its sales, profits, assets, and market value.
The three business groups that make up HSBC are Commercial Banking, Global Banking and Markets, and Wealth and Personal Banking. The bank said that in 2020, Retail Banking & Wealth Management would be combined with Global Private Banking to make Wealth & Personal Banking.
HSBC is listed on both the Hong Kong Stock Exchange and the London Stock Exchange as its main listing. It is also a part of both the Hang Seng Index and the FTSE 100 Index. It is also listed on the New York Stock Exchange and the Bermuda Stock Exchange as a secondary exchange.
HSBC has been in a few controversies, and the bank has been fined many times for money laundering (sometimes with the Sinaloa gang) or setting up large-scale schemes to avoid paying taxes.HSBC UK is a retail and commercial bank operating in the UK. It is a wholly-owned subsidiary of HSBC Holdings plc and provides a range of financial services, including personal banking, business banking, corporate banking, wealth management, and investment banking. It is the largest bank in the UK by market capitalization, the fourth largest by assets, and the seventh largest by deposits.
HSBC UK offers a range of products and services, including current accounts, savings accounts, mortgages, loans, credit cards, and business banking services. It also offers Internet banking, telephone banking, and mobile banking. In addition, it provides a range of insurance products, investment services, foreign exchange, and wealth management services. In terms of corporate social responsibility, HSBC UK is committed to helping local communities and has a range of initiatives to support those in need. It also works to reduce its own environmental impact and has a number of green initiatives to help reduce its carbon footprint.
Founded: 1865
Headquarters: London, England, UK
Website: https://www.hsbc.co.uk/
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Lloyds Banking Group is a British banking company made when Lloyds TSB bought HBOS in 2009. With 30 million customers and 65,000 workers, it is one of the biggest financial services companies in the UK. Lloyds Bank was started in 1765, but the history of the giant Group goes back 320 years to when the Parliament of Scotland began to the Bank of Scotland in 1695.
Founded: 2009
The Group's registration office is on The Mound in Edinburgh, while its main office is at 25 Gresham Street in the City of London. It also has offices in Birmingham, Bristol, Glasgow, and West Yorkshire. The Group also does a lot of business in the United States, Europe, the Middle East, and Asia. Berlin, Germany, is the place where it runs its business in the European Union.
The company does business under several different names, such as Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows. António Horta-Osório, the company's former CEO, told The Banker, "We will keep the different brands because the customers' attitudes are very different."
Lloyds Banking Group is a part of the FTSE 100 Index and is traded on the London Stock Exchange (LSE). As of August 1, 2022, it was the 19th biggest company listed on the LSE, with a market capitalization of about £30.65 billion. It also has a secondary listing on the New York Stock Exchange in the form of American depositary receipts.
Headquarters: London, England, UK
Website: https://www.lloydsbankinggroup.com/ -
NatWest Group plc is a British holding company for banks and insurance. It is based in Edinburgh, Scotland. The group runs a wide range of banking names that offer personal and business banking, private banking, investment banking, insurance, and corporate finance. National Westminster Bank, Royal Bank of Scotland, NatWest Markets, and Coutts are its key subsidiary companies in the UK. The group prints bills in Scotland and Northern Ireland. As of 2014, the Royal Bank of Scotland was the only bank in the UK that still printed £1 notes.
Before the crash of 2008 and the global financial crisis, the Group was the biggest bank in the world for a short time. It was also the second-biggest bank in the UK and Europe for a while and the fifth-biggest bank in the world by market capitalization. After that, the bank fell sharply in the rankings because its share price dropped, and people lost a lot of faith in it. However, in 2009, it was briefly the world's biggest company in terms of both assets (£1.9 trillion) and liabilities (£1.8 trillion). It had to be saved by the 2008 United Kingdom bank rescue plan from the UK government.
The government kept a majority share until March 28, 2022. UK Government Investments held and controlled this share. After the NatWest Group bought back shares, the government now owns 42% of the company. The company's main shares are traded on the London Stock Exchange, but they are also on the New York Stock Exchange.Founded: 1968
Headquarter: Edinburgh, Scotland, UK
Website: https://www.natwestgroup.com/
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London-based Barclays is a global bank. Barclays Execution Services supports Barclays UK and Barclays International.
In 1690, London goldsmiths founded Barclays. 1736 saw James Barclay join the business. Twelve London and provincial institutions, including Goslings Bank, Backhouse's Bank, and Gurney, Peckover and Company, formed Barclays and Co. in 1896. Barclays expanded nationwide throughout the following decades. Barclays introduced the first cash dispenser in 1967. Barclays acquired London, Provincial and South Western Bank in 1918, British Linen Bank in 1919, Mercantile Credit in 1975, Woolwich in 2000, and Lehman Brothers North America in 2008.
Barclays is a FTSE 100 component and London Stock Exchange primary listing. New York Stock Exchange secondary listing. It is a Financial Stability Board systemically important bank. A 2011 report ranked Barclays as the most powerful transnational firm in terms of ownership and corporate influence over global financial stability and market competition, followed by Axa and State Street firm. Barclays is Europe's fifth-largest bank by assets and employs over 80,000 people in 40 countries.
Barclays UK includes British retail banking, consumer credit cards, wealth management, and corporate banking for small, medium, and large organizations. Barclays International includes Barclays Corporate and Investment Bank (previously Barclays Capital) and Consumer, Cards & Payments. Investment banks advise, finance, and manage risk for large corporations, organizations, and governments. Gilts, Treasury securities, and European government bonds are its main products.Founded: 1690
Headquarter: London, England, UK
Website: https://home.barclays/
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Standard Chartered plc is a British multinational bank that works in consumer, business, and institutional banking, as well as treasury services. Even though its main office is in the UK, it doesn't do private banking there, and about 90% of its profits come from Asia, Africa, and the Middle East.
Standard Chartered is a member of the FTSE 100 Index and has its main float on the London Stock Exchange. It is also listed on the OTC Markets Group Pink, the National Stock Exchange of India, and the Hong Kong Stock Exchange. Temasek Holdings, which is owned by the government of Singapore, has the most shares. The Financial Stability Board thinks it is an important bank for the whole economy.
Standard Chartered is led by José Vials, who is the Group Chairman. The Group Chief Executive right now is Bill Winters.Founded: 1969
Headquarter: London, England, UK
Website: https://www.sc.com/en/
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Virgin Money is a brand name for banking and business services in the UK.
Richard Branson started the Virgin Money brand in March 1995. It was first called Virgin Direct and was the first company to use index tracking by putting out a value personal equity plan. In the 2000s, Virgin Money grew and started doing business in more places. Virgin Money said it wanted to become a private bank. In 2007, before the British government took over Northern Rock, it tried to buy it. In 2009, Virgin asked the Financial Services Authority for its banking license. The following year, it got one when it bought Church House Trust. In January 2012, Virgin bought Northern Rock and changed the business's name to Virgin Money.
In June 2018, Virgin Money decided to be taken over by CYBG plc. This took place in October 2018. On October 21, 2019, Virgin Money became a part of Clydesdale Bank plc. It will keep its name and use Clydesdale Bank plc's banking license. The Clydesdale Bank, Yorkshire Bank, and B names will be phased out by Virgin Money UK plc in favor of the Virgin Money brand.Founded: 1995
Headquarter: Newcastle Upon Tyne, England, UK
Website: https://uk.virginmoney.com/
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Close Brothers Group is a leading UK merchant banking group, providing lending, deposit taking, wealth management services, and insurance. Founded in 1878, Close Brothers has grown to become one of the leading financial services providers in the UK.
Close Brothers offers a wide range of financial services, including commercial and retail banking, asset management and insurance. The Group provides products and services to a wide range of customers, from high net-worth individuals and corporate clients to small businesses and charities.
Close Brothers has grown organically and through strategic acquisitions, to become the sixth largest merchant banking group in the UK. The Group is headquartered in London, with operations in the UK, Ireland and Germany. Close Brothers employs over 3,000 people. The Group’s divisions are supported by a wide variety of specialist teams, providing expertise in areas such as risk management, compliance, technology and marketing.
Founded: 1878
Headquarter: London, EC2, United Kingdom
Website: https://www.closebrothers.com/