Independent British retail banks

The table shows the main independent British retail banks, in order of market capitalisation. The list is quite short as British banking has been highly consolidated since the early 20th century. Unlike some other major economies, the UK does not have a major stratum of independent local banks. The list shrank further during 2008: Northern Rock was nationalised by the UK Government (and is now owned by Virgin Money), followed by Bradford & Bingley; Alliance & Leicester was acquired by Santander, who merged it into Santander UK. On 18 September 2008, Lloyds TSB plc entered into a confirmed agreement to take over HBOS plc, which took effect on 19 January 2009, when HBOS was acquired and folded into Lloyds Banking Group.[1][2][3]

Bank Headquarters Market value (£bn)
As of 31 May 2019[4]
Total assets (£bn)
As of 31 December 2018[5]
HSBC Holdings London, England 131 1,998
Lloyds Banking Group[a] London, England 40 794
NatWest Group††[b] Edinburgh, Scotland 26.2 691
Barclays London, England 25 873
Standard Chartered London, England 22.4 540[7]
  1. ^ Includes Lloyds Bank and Bank of Scotland (including Halifax, Birmingham Midshires and Intelligent Finance).
  2. ^ Includes NatWest, the Royal Bank of Scotland and Ulster Bank. The UK government owns a stake of 62% of NatWest Group's ordinary shares, but the bank remains nominally independent of government[6]

The retail and commercial banking markets are dominated by HSBC, Barclays, Lloyds Banking Group, NatWest Group and Spanish-owned Santander UK (most of these companies operate more than one banking brand in the UK). The fifth major UK-based bank, Standard Chartered, operates primarily in Asia and Africa.

There are a number of banking businesses owned by retail groups, such as:

Banks incorporated in the UK

A full list of businesses considered banks by the Prudential Regulation Authority are listed in the table below, this list is based on the definition of 'bank' in the glossary of the PRA Handbook.[8]

Name of bank Parent company Location of headquarters
(Parent where applicable)
Abbey National Treasury Services plc The Santander Group Spain
ABC International Bank plc Arab Banking Corporation Bahrain
The Access Bank UK Limited Access Bank Group Nigeria
ADIB (UK) Ltd Abu Dhabi Islamic Bank United Arab Emirates
Ahli United Bank (UK) plc Ahli United Bank Bahrain
AIB Group (UK) plc Allied Irish Banks Republic of Ireland
Al Rayan Bank plc Masraf Al Rayan Qatar
Aldermore Bank plc FirstRand South Africa
Alliance Trust Savings Limited Alliance Trust Scotland
Allica Bank Independently run England
Alpha Bank London Limited Alpha Bank Greece
ANZ Bank (Europe) Limited Australia and New Zealand Banking Group Australia
Arbuthnot Latham & Co Limited Arbuthnot Banking Group England
Atom Bank plc Independently run England
Axis Bank UK Limited Axis Bank India
Bank and Clients plc Ocean Industries S.A. Luxembourg
Bank Leumi (UK) plc Bank Leumi Israel
Bank Mandiri (Europe) Limited Bank Mandiri Indonesia
Bank of America Merrill Lynch International Limited Bank of America United States of America
Bank of Baroda Government of India India
Bank of Beirut (UK) Ltd Bank of Beirut Lebanon
Bank of Ceylon (UK) Ltd Bank of Ceylon Sri Lanka
Bank of China (UK) Ltd Bank of China China
Bank of Communications (UK) Limited Bank of Communications China
Bank of Cyprus UK Limited Bank of Cyprus Cyprus
Bank of India Government of India India
Bank of Ireland (UK) Plc Bank of Ireland Republic of Ireland
Bank of London and The Middle East plc Independently run England
The Bank of New York Mellon (International) Limited The Bank of New York Mellon United States of America
Bank of Scotland plc Lloyds Banking Group Scotland
Bank of the Philippine Islands (Europe) plc Bank of the Philippine Islands Philippines
Bank Saderat plc Bank Saderat Iran Iran
Bank Sepah International plc Bank Sepah Iran
Barclays Bank plc Barclays England
BFC Bank Ltd BFC Group Holdings W.L.L. Bahrain
BIRA Bank Ltd Independently run England
BMCE Bank International plc BMCE Bank International England
British Arab Commercial Bank plc British Arab Commercial Bank England
Brown Shipley & Co Limited KBL European Private Bankers Luxembourg
C. Hoare & Co Independently run England
CAF Bank Ltd Independently run England
Cambridge & Counties Bank Limited 50% by Trinity Hall, a Cambridge University college, and 50% by Cambridgeshire Local Government Pension Scheme England
Cater Allen Limited Santander Group Spain
Charity Bank Limited Independently run England
Charter Court Financial Services Limited Independently run England
China Construction Bank (London) Limited China Construction Bank China
CIBC World Markets plc CIBC World Markets Canada
ClearBank Ltd Independently run England
Close Brothers Limited Close Brothers Group England
Clydesdale Bank plc Virgin Money UK plc England
The Co-operative Bank plc Independently run England
Coutts & Company NatWest Group Scotland
Credit Suisse (UK) Limited Credit Suisse Switzerland
Credit Suisse International Credit Suisse Switzerland
Crown Agents Bank Limited Helios Investment Partners England
DB UK Bank Limited Deutsche Bank Germany
Diamond Bank (UK) plc Diamond Bank Nigeria
Duncan Lawrie Limited Camellia plc England
EFG Private Bank Limited EFG International Switzerland
Europe Arab Bank plc Arab Bank Jordan
FBN Bank (UK) Ltd First Bank of Nigeria Nigeria
FCE Bank plc Ford Motor Credit Company United States of America
FCMB Bank (UK) Limited First City Monument Bank Nigeria
Gatehouse Bank plc Independently run England
GE Capital Bank Limited GE Capital United States of America
Ghana International Bank plc Independently run England
Goldman Sachs International Bank Goldman Sachs United States of America
Guaranty Trust Bank (UK) Limited Guaranty Trust Bank Nigeria
Gulf International Bank (UK) Limited Gulf International Bank Bahrain
Habib Bank Zurich Plc Habib Bank AG Zurich Switzerland
Habibsons Bank Limited Habib Bank Limited Pakistan
Hampden & Co Plc Independently run Scotland
Hampshire Trust Bank Plc Independently run England
Havin Bank Ltd Independently run England
HSBC Bank Plc HSBC England
HSBC Private Bank (UK) Limited HSBC England
HSBC Trust Company (UK) Ltd HSBC England
ICBC (London) plc Industrial and Commercial Bank of China China
ICBC Standard Bank Plc Industrial and Commercial Bank of China China
ICICI Bank UK Plc ICICI Bank India
Investec Bank PLC Investec South Africa
Itau BBA International PLC Itaú Unibanco Brazil
J.P. Morgan Europe Limited J.P. Morgan England
J.P. Morgan International Bank Limited J.P. Morgan England
J.P. Morgan Securities plc J.P. Morgan England
Jordan International Bank Plc The Housing Bank for Trade and Finance Jordan
Julian Hodge Bank Limited Independently run Wales
Kexim Bank (UK) Ltd Export–Import Bank of Korea South Korea
Kingdom Bank Ltd Assemblies of God Property Trust England
SG Kleinwort Hambros Bank Limited Société Générale France
Kookmin Bank International Limited KB Kookmin Bank South Korea
Lloyds Bank Plc Lloyds Banking Group England
Lloyds Bank Private Banking Limited Lloyds Banking Group England
Macquarie Bank International Ltd Macquarie Group Australia
Marks & Spencer Financial Services Plc HSBC Bank plc England
Masthaven Bank Limited Independently run England
Melli Bank plc Bank Melli Iran Iran
Methodist Chapel Aid Limited Independently run England
Metro Bank PLC Independently run England
MUFG Mitsubishi UFJ Financial Group, Inc. Japan
Mizuho International Plc Mizuho Financial Group Japan
Monzo Bank Ltd Independently run England
Morgan Stanley Bank International Limited Morgan Stanley United States of America
National Bank of Egypt (UK) Limited National Bank of Egypt Egypt
National Bank of Kuwait (International) Plc National Bank of Kuwait Kuwait
National Westminster Bank Plc NatWest Group England
Nomura Bank International Plc Nomura Group Japan
Northern Bank Limited Danske Bank Denmark
Northern Trust Global Services Ltd Northern Trust United States of America
OakNorth Bank Limited Independently run England
OneSavings Bank Plc OneSavings Bank England
Paragon Bank Plc Paragon Banking Group England
PCF Group Plc Independently run England
Persia International Bank Plc Bank Mellat Iran
Philippine National Bank (Europe) Plc Philippine National Bank Philippines
Punjab National Bank (International) Limited Punjab National Bank India
QIB (UK) Plc Qatar Islamic Bank Qatar
R. Raphael & Sons Plc Lenlyn Holdings Plc England
Rathbone Investment Management Limited Independently run England
RBC Europe Limited RBC Capital Markets Canada
Reliance Bank Ltd Independently run England
Royal Bank of Scotland Plc, The NatWest Group Scotland
Sainsbury's Bank Plc Independently run Scotland
Santander UK Plc The Santander Group Spain
Schroder & Co Ltd Independently run England
Scotiabank Europe Plc Scotiabank Canada
Scottish Widows Bank Plc Lloyds Banking Group Scotland
Secure Trust Bank Plc Independently run England
Shawbrook Bank Limited Independently run England
Smith & Williamson Investment Services Limited Independently run England
Sonali Bank (UK) Limited 51% of the shares are held by Bangladesh Government and 49% by Sonali Bank Ltd, Bangladesh Bangladesh
Standard Chartered Bank Independently run England
Starling Bank Limited Independently run England
State Bank of India State Bank of India Group India
Sumitomo Mitsui Banking Corporation Europe Limited Sumitomo Mitsui Financial Group Japan
Tandem Bank Limited Tandem Money Limited England
TD Bank Europe Limited Toronto-Dominion Bank Canada
Tesco Personal Finance Plc Independently run England
TSB Bank plc Banco Sabadell Spain
Turkish Bank (UK) Ltd The Turkish Bank Group Turkey
UBS Limited UBS Switzerland
Ulster Bank Ltd NatWest Group Ireland
Union Bank of India (UK) Limited Union Bank of India India
Union Bank UK Plc Union Bank of Nigeria Nigeria
United National Bank Limited United Bank (Pakistan) Pakistan
United Trust Bank Limited Independently run England
Unity Trust Bank Plc Independently run England
Vanquis Bank Limited Provident Financial England
Virgin Money Virgin Money UK plc England
VTB Capital plc VTB Bank Russia
Weatherbys Bank Limited Weatherbys England
Wesleyan Bank Limited Wesleyan Assurance Society England
Westpac Europe Ltd Westpac Australia
Wyelands Bank Plc GFG Alliance England
Yorkshire Bank Virgin Money UK plc England
Zenith Bank (UK) Limited Zenith Bank Nigeria

There is also a government-run savings bank called National Savings and Investments.

The other main class of consumer financial service organisation in the United Kingdom is the building society, but the building society sector is much smaller than it used to be as many major building societies demutualised in the 1980s and 1990s and there has also been ongoing consolidation via mergers between societies. Halifax (now part of Lloyds Banking Group) and Abbey (now part of Santander) were the two largest building societies. The remaining building societies which demutualised have all subsequently lost their independence, either through nationalisation or acquisition by other banks. See Building society for a list of the remaining building societies. Out of the remaining building societies, only Nationwide would be large enough to appear in the above table if it were a bank.

UK retail banking brands owned by foreign banks

See also


  1. ^ "Lloyds TSB confirms deal to take over HBOS". 18 September 2008. Retrieved 18 September 2008.
  2. ^ "Recommended acquisition of HBOS plc by Lloyds TSB Group plc" (PDF). Lloyds TSB. 17 September 2008. Archived from the original (PDF) on 23 September 2008. Retrieved 18 September 2008.
  3. ^ BBC News: HBOS confirms Lloyds merger talks; Guardian: Banking crisis: Lloyds TSB in talks to buy HBOS
  4. ^ "Statista - Leading banks in Europe as of May 2019, by market capitalization". Statista. 8 December 2019. Retrieved 8 December 2019.
  5. ^ "Statista - Leading banks in Europe 2018, by total assets". Statista. Statista. Retrieved 8 December 2019.
  6. ^ "RBS shares plunge on record loss". BBC News. 19 January 2009. Retrieved 8 May 2010.
  7. ^ "Standard Chartered Annual Report 2018" (PDF). 8 December 2019. Retrieved 8 December 2019.
  8. ^ "Banks & building societies lists - Bank of England".