Jesse Ventura

This is a list of banks operating in the United Kingdom.

The Bank of England is the central bank of the United Kingdom.

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 retail and commercial banking market in the UK is dominated by HSBC, Barclays, Lloyds Banking Group and NatWest Group - all four operate more than one banking brand in the UK. In addition, some people^[who?] argue Spanish-owned Santander UK should be a part of the "Big 4" making it the big 5; however, its Spanish origins hinder its recognition as a British bank despite its ability to act autonomously and independently from the Spanish bank itself as it is "managed by its own local team and is responsible solely for its performance away from its Spanish owners".^{[citation needed]} As well as this, the Nationwide Building Society (commonly referred to as "Nationwide"), and Standard Chartered are both candidates to be the fifth and sixth members of the group, although Standard Chartered does not operate a retail bank in the UK.^{[citation needed]}

The largest of the "Big 4" banks in every relevant metric is HSBC (the Hongkong and Shanghai Banking Corporation) which, despite its name, is a British universal bank and financial services group headquartered in London, with historical links to business in East Asia. It is the largest bank in Europe and the 7th largest in the world by total assets and 9th largest in the world by market cap.^{[citation needed]}

These banks provide retail services to the general public. Retail banks are usually known as High street banks as they traditionally had multiple branch locations in the cities and towns across the UK. However 40% of branches closed between 2012 and 2022 .^[3] Four British retail banks have never had a physical branch presence.

The retail and commercial banking markets are dominated by five big banks: HSBC, Barclays, Lloyds Banking Group, NatWest Group and Spanish-owned Santander UK, who operate more than one banking brand in the UK.

The number of independent banks shrank 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 (HBOS plc included Halifax Bank and The Bank of Scotland), which took effect on 19 January 2009, when HBOS was acquired and folded into Lloyds Banking Group.^[4][5][6]

There are a number of other retail banking businesses owned by retailers including:

• Post Office Money, the trading name used by Post Office Ltd for its branded financial products, most of which are provided by Bank of Ireland UK.
• Sainsbury's Bank, owned by British supermarket company Sainsbury's.^[16]

• Tesco Bank, which was acquired by Barclays on 1 November 2024 from Tesco.^[17]
• Harrods Bank, which was acquired by Tandem Money Limited on 11 January 2018.^[18]

The other main class of consumer financial service organisation in the United Kingdom is the building society. The building society sector has become much smaller with fewer building societies. This was caused, firstly, a number of building societies demutualising in the 1980s and 1990s and subsequently, taken over by banks. Secondly, there has been ongoing consolidation via mergers between societies.

There are 42 building societies in the UK as of 2021 which provide retail banking services to the general public. The five largest as of October 2020 are:

• Allied Irish Bank (GB) and First Trust Bank, owned by AIB Group of the Republic of Ireland
• Al Rayan Bank, owned by Masraf Al Rayan of Qatar
• Axis Bank UK, owned by Axis Bank of India
• Bank of Ceylon (UK), owned by Bank of Ceylon of Sri Lanka
• Bank of Baroda (UK), owned by Bank of Baroda of India
• Bank of China (UK), owned by Bank of China
• Bank of India (UK), owned by Bank of India
• Bank of Ireland UK, owned by Bank of Ireland of the Republic of Ireland; one of the leading banks in Northern Ireland, and present in Great Britain to a lesser extent
• Bank Sepah International plc, owned by Bank Sepah of Iran
• Chase UK, owned by JPMorganChase of the United States
• Citibank (UK), owned by Citigroup of the United States
• Danske Bank (formerly Northern Bank), owned by Danske Bank of Denmark
• FCMB Bank (UK) Limited, owned by First City Monument Bank of Nigeria
• Habib Bank UK, owned by Habib Bank of Pakistan
• ICBC (London) plc, by Industrial and Commercial Bank of China
• ICICI Bank (UK), owned by ICICI Bank of India
• Nurol Bank (UK), owned by Nurol Bank of Turkey
• Punjab National Bank (International), owned by Punjab National Bank of India
• RCI Bank UK, owned by RCI Banque SA
• Santander UK (formerly Abbey, Alliance & Leicester and Bradford & Bingley), owned by Santander Group of Spain
• SEB (UK), owned by Skandinaviska Enskilda Banken, Sweden
• State Bank of India (UK), owned by State Bank of India
• Svenska Handelsbanken, UK Branch
• The Bank of East Asia, UK Branch
• TSB Bank, part of Sabadell Group, headquartered in Spain
• Union Bank of India (UK) Ltd, owned by Union Bank of India of India
• United Bank UK, owned by United Bank Limited of Pakistan
• Zenith Bank (UK), owned by Zenith Bank of Nigeria

A full list of businesses considered banks by the Prudential Regulation Authority is shown in the table below. The list is based on the definition of "bank" in the glossary of the PRA Handbook.^[21]

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

• 2008 United Kingdom bank rescue package
• 2009 United Kingdom bank rescue package
• Banking in the United Kingdom
• Building society
• List of banks in Europe
• List of building societies in the United Kingdom
• Category:Banks of dependent territories of the United Kingdom
• Category:Defunct banks of the United Kingdom

• List of active banks in the United Kingdom with swift codes
• List of the Electronic Money Institutions (EMI) licensed in the United Kingdom
• Electronic Money Institutions (EMI) for business in the United Kingdom
• BBA - British Bankers' Association - BBA member banks
• Bank of England Prudential Regulation Authority - banks & building societies list (updated monthly)