List of banks in the United Kingdom
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[edit] 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, followed by Bradford & Bingley; Alliance & Leicester was acquired by Santander, who own Abbey; Lloyds TSB plc announced, on 18 September 2008, a confirmed agreement to take over HBOS plc[1][2][3].
| Bank | Headquarters | Market value (£bn) As of 23 August 2010 |
Assets (£bn) As of 31 December 2008 |
|---|---|---|---|
| HSBC | Canary Wharf | 111.6[4] | 1,736 |
| Lloyds Banking Group†† | City of London | 47.2[5] | 1,195 |
| Barclays | Canary Wharf | 38.2[6] | 2,320 |
| Standard Chartered | City of London | 35.3[7] | 299 |
| Royal Bank of Scotland Group† | Edinburgh | 26.3[8] | 2,508 |
Note: Market capitalisation listed as of 23 August 2010. Assets listed as of 31 December 2008,[9][10]
- † The UK Government owns a controlling stake of 84% of the Royal Bank of Scotland Group (RBS)'s ordinary shares, however the bank itself remains nominally independent of Government[11]
- †† The UK Government owns a controlling stake of 43% of the Lloyds Banking Group, with the bank remaining in the private sector.
The retail and commercial banking markets are dominated by Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland Group and Spanish-owned Santander (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:
- Co-operative Bank owned by The Co-operative Group.
- Harrods Bank owned by Harrods, a department store in London.
- Sainsbury's Bank: 50% owned by British supermarket company Sainsbury's and 50% owned by Lloyds Banking Group.
- Tesco Bank: owned by British supermarket company Tesco.
There are a small number of independent specialist or local banks. A full list is maintained by the FSA http://www.fsa.gov.uk/pubs/list_banks/2010/june10.pdf
Many of these are just a small fraction of the size of the smallest of the banks in the table above. These include: Airdrie Savings Bank, Aldermore, Arbuthnot Latham, C. Hoare & Co, CAF Bank (a bank for charities provided by Charities Aid Foundation), Charity Bank (a bank which is also a charity and supports other charities), Close Brothers Group, Duncan Lawrie Bank, Julian Hodge Bank, N M Rothschild & Sons, Raphaels Bank, Unity Trust Bank (a bank supporting social enterprise). 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 owned by 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.
[edit] Other British retail banking brands owned by British companies
- Bank of Scotland: owned by Lloyds Banking Group.
- Birmingham Midshires: owned by Lloyds Banking Group.
- Cheltenham & Gloucester: owned by Lloyds Banking Group.
- Church House Trust: acquired by Virgin Money in January 2010.
- Coutts & Co: a subsidiary of NatWest, owned by the Royal Bank of Scotland Group.
- Duncan Lawrie: owned by Camellia plc.
- First Direct: telephone and internet banking brand owned by HSBC.
- Halifax: owned by Lloyds Banking Group.
- Intelligent Finance: telephone and internet banking brand owned by Lloyds Banking Group.
- Lloyds TSB: owned by Lloyds Banking Group.
- NatWest: owned by the Royal Bank of Scotland Group.
- Reliance Bank: owned by The Salvation Army.
- Royal Bank of Scotland: owned by Royal Bank of Scotland Group.
- Smile: telephone and internet banking brand owned by The Co-operative Bank.
- Ulster Bank: owned by Royal Bank of Scotland Group.
- The Woolwich: owned by Barclays.
[edit] Nationalised banks controlled by HM Government
National Savings and Investments (NS&I), originally founded in 1861, helps the UK Government gain additional finance, other than taxation, at lower rates than borrowing direct from the markets.
Northern Rock was nationalised in February 2008 after the first run on a bank in more than a century.[12]
On 29 September 2008, the Treasury announced that Bradford & Bingley was to be partially nationalised with the savings book and branch network sold to Abbey, which is part of Grupo Santander, following talks on the day before.
[edit] UK retail banking brands owned by foreign banks
- Alliance & Leicester: owned by Banco Santander; To be merged into the Santander brand by November 2010.
- Allied Irish Bank (GB): owned by AIB Group of the Republic of Ireland.
- Bank of Ireland: based in the Republic of Ireland. One of the leading banks in Northern Ireland, and present in Great Britain to a lesser extent.
- Clydesdale Bank: owned by National Australia Bank.
- Egg Banking plc: owned by Citigroup.
- First Trust Bank: owned by AIB Group of the Republic of Ireland.
- Northern Bank: owned by Danske Bank of Denmark.
- Santander (formerly Abbey, and Bradford & Bingley): owned by Banco Santander of Spain.
- Yorkshire Bank: owned by National Australia Bank.
- Bank of Cyprus UK: owned by Bank of Cyprus.
[edit] See also
[edit] References
- ^ "Lloyds TSB confirms deal to take over HBOS". 2008-09-18. http://www.iht.com/articles/ap/2008/09/18/business/EU-Britain-HBOS.php. Retrieved 2008-09-18.
- ^ "Recommended acquisition of HBOS plc by Lloyds TSB Group plc" (PDF). Lloyds TSB. 2008-09-17. http://www.investorrelations.lloydstsb.com/media/pdf_irmc/ir/2008/2008Aug_LTSB_Acquires_HBOS.pdf. Retrieved 2008-09-18.
- ^ BBC News: HBOS confirms Lloyds merger talks; Guardian: Banking crisis: Lloyds TSB in talks to buy HBOS
- ^ "HSBC Holdings PLC". Bloomberg.com. 23 August 2010. http://www.bloomberg.com/apps/quote?ticker=HSBA:LN. Retrieved 23 August 2010.
- ^ "Lloyds Banking Group PLC". Bloomberg.com. 23 August 2010. http://www.bloomberg.com/apps/quote?ticker=LLOY:LN. Retrieved 23 August 2010.
- ^ "Barclays PLC". Bloomberg.com. 23 August 2010. http://www.bloomberg.com/apps/quote?ticker=BARC:LN. Retrieved 23 August 2010.
- ^ "Standard Chartered PLC". Bloomberg.com. 23 August 2010. http://www.bloomberg.com/apps/quote?ticker=STAN:LN. Retrieved 23 August 2010.
- ^ "Royal Bank of Scotland Group PLC". Bloomberg.com. 23 August 2010. http://www.bloomberg.com/apps/quote?ticker=RBS:LN. Retrieved 23 August 2010.
- ^ Dan Keeler (October 2009). "World's Biggest Banks". Global Finance. http://www.gfmag.com/tools/best-banks/2523-worlds-biggest-banks.html. Retrieved 20 November 2009.
- ^ "USD/GBP". Yahoo! Finance. http://uk.finance.yahoo.com/echarts?s=USDGBP=X#chart5:symbol=usdgbp=x;range=20081231,20081231;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined. Retrieved 20 November 2009.
- ^ "RBS shares plunge on record loss". BBC News. 19 January 2009. http://news.bbc.co.uk/1/hi/business/7836882.stm. Retrieved 8 May 2010.
- ^ "Timeline: Northern Rock bank crisis". BBC News. 5 August 2008. http://news.bbc.co.uk/1/hi/business/7007076.stm. Retrieved 29 June 2010.
[edit] External links
- Consequences of Abbey's potential of Alliance and Leicester
- BBA - British Bankers' Association - BBA Member Banks
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