Banks in the United Kingdom
The UK banking industry is one of the largest in the world and the largest in Europe. There are approximately 350 banks operating in the UK including 160 foreign deposit taking institutions and 43 building societies. HSBC, Barclays, Lloyds Banking Group and NatWest are the Big Four UK banks. The Bank of England is the central bank of the country and the second oldest central bank in the world. Here is our list of the largest and best banks in the UK in terms of total assets.
HSBC Holdings
HSBC Holdings plc is a multinational banking and financial services company headquartered in London. It is the largest bank in the UK and Europe and one of the top 10 banks in the world by assets and market capitalization. HSBC serves about 41 million customers through about 2,700 branches and employs around 215,000 people worldwide. It provides a diverse range products and services including retail and corporate banking, private banking, wealth management, investment banking and online and mobile solutions. The company’s insurance products include life, health and property & casualty coverage. HSBC shares are traded on the London, Hong Kong, Bermuda and New York stock exchanges.
Barclays
Barclays plc, headquartered in London, is an international consumer and wholesale bank operating in more than 40 countries. It employs over 90,000 people and offers a comprehensive range of consumer, corporate, investment and private banking services through one of the largest branch and ATM networks in the United Kingdom. It is the leading UK retail bank with about 24 million customers. The company's five key business divisions are Barclays UK, Barclays Investment Bank, Barclays UK Corporate Bank, Barclays US Consumer Bank and Barclays Private Bank & Wealth Management (PBWM).
Lloyds Banking Group
Lloyds Banking Group is the third largest banking group in the UK in terms of assets. The company’s main business lines are retail and commercial banking, corporate banking, life and non-life insurance, and pension and investment services. The Group’s subsidiaries include Lloyds Bank, Bank of Scotland, Halifax, Scottish Widows, Lloyds Development Capital, Agricultural Mortgage, Black Horse Ltd and Lex Autolease, among others. As of September 2024, Lloyds Banking Group had over GBP 900 billion in total assets.
NatWest Group
NatWest Group Plc (previously Royal Bank of Scotland Group), headquartered in Edinburgh, is one of the top five banks in the UK. It is the banking and financial services provider with about 60,000 employees and 19 million customers. The company operates through a number of well-known brands including National Westminster Bank, Royal Bank of Scotland, Ulster Bank, Coutts, Adam & Company, Child & Co, Drummonds, Isle of Man Bank, Lombard, and Holt’s Military Banking. Coutts is the best private bank in the UK according to recent review from The Banker and Global Finance.
Standard Chartered
Standard Chartered plc is a global financial services organization with about 1,000 branches and operations in over 60 markets. It offers consumer and wholesale banking services including deposits, personal and business loans, wealth management, mortgages, auto finance, mergers and acquisition advisory, online banking, international money transfer and more. The company's shares are traded on the London and Hong Kong stock exchanges, and the US OTC securities market.
Santander UK
Santander UK plc is the largest foreign bank in the country. It is also the 3rd largest retail mortgage lender and 5th largest commercial lender in the UK. The company provides savings and investment accounts, personal and mortgage loans, car loans, business lending, insurance as well as a range of credit cards including everyday credit card, all in one credit card, zero credit card and Santander World Elite MasterCard.
Nationwide
Nationwide Building Society, based in Swindon, South West England, is the largest building society in the UK and worldwide. The company employs approximately 18,000 people and serves over 16 million members. It offers cash ISAs, stocks and shares ISAs, bonds, current accounts, mortgages, personal loans, credit cards, and retirement and investment services. It doesn't offer an innovative finance ISA or lifetime ISA (LISA). For the year ended in April 2024, the company reported profit after tax of £1.3 billion and net interest income of £4.5 billion. Nationwide is the safest bank in the UK according to Global Finance.
Virgin Money
Virgin Money UK, based in Glasgow, is one of the top 10 banks in the UK by assets. It offers a wide array of products and services including cash ISAs, stocks and shares ISAs, fixed term accounts, unit trusts, life and travel insurance, auto insurance, pension and retirement products, international money transfers, commission-free currency with great exchange rates, travel credit cards, all round and purchase credit cards, prepaid cards, online and phone banking and much more. The company’s stock is traded on the London Stock Exchange and Australian Securities Exchange (ASX).
The Co-operative Bank
The Co-operative Bank is a British retail and commercial bank based in Manchester. It offers current and savings accounts, consumer and mortgage loans, credit cards, insurance, investments, prepaid funeral plans, financial planning, project finance, treasury services, and mobile and online banking. The Co-operative Bank is covered by FSCS (Financial Services Compensation Scheme). FSCS pays compensation if financial services firms fail.
Metro Bank
Metro Bank plc is a high street bank launched in the summer of 2010. It offers current and community deposit accounts, cash ISAs, personal and commercial loans, credit cards, residential mortgages, insurance for small business and pet, and other services. The Bank's 75 stores are open 362 days a year and 7 days a week. The company is based in Holborn, London and today employs over 4,300 people.
See also: Tesco Bank, Revolut Ltd, Monzo Bank, Starling Bank, Monese, Tandem Bank, Atom Bank, Investec, Banking in the UK, Building Societies, Foreign Banks, Clydesdale Bank, Chase UK
Largest Banks in the UK by assets
Here is a list of the largest banks in the United Kingdom ranked by total assets in billions of British Pounds.
| Rank | Bank | Total assets, £b (June 30, 2024) |
| 1 | HSBC Holdings | 2,352.37 |
| 2 | Barclays plc | 1,576.63 |
| 3 | Lloyds Banking Group | 892.927 |
| 4 | NatWest Group | 690.338 |
| 5 | Standard Chartered | 660.584 |
| 6 | Santander UK | 264.188 |
| 7 | Nationwide Building Society * | 271.917 |
| 8 | Virgin Money UK * | 93.033 |
* Data as of March 31, 2024.
Virgin Money UK plc was formerly known as CYBG plc.
Top 5 UK Banks by market capitalization
Following are the five largest UK banks based on market capitalization.
| Rank | Bank | Market cap, US$b (January 2025) |
| 1 | HSBC Holdings | 185.3 B |
| 2 | Barclays plc | 52.6 B |
| 3 | Lloyds Banking Group | 46.5 B |
| 4 | NatWest Group * | 43.3 B |
| 5 | Standard Chartered | 32.4 B |
* NatWest Group plc was previously known as The Royal Bank of Scotland Group.