About This Statistic
This statistic illustrates the market share of the current accounts of leading banks in the United Kingdom (UK) as of 2014. Market share of current accounts is an important measure for comparison between banks, as a larger share of the current account market means that more customers are actively keeping their money with a particular bank. Furthermore, current account market share is important for the banks themselves as an increase in the market share of current accounts will lead to an increase in revenue, as all accounts, no matter the type, have a form of revenue associated with them. It can be seen that as of 2014, the London headquartered Lloyds Bank PLC had the largest share of the current accounts market. A total of more than one quarter (27 percent) of all current accounts were with Lloyds Bank PLC at that time. With a share of almost one fifth (18 percent) of the current accounts market each, Barclays Bank PLC and the Royal Bank of Scotland were joint second at that time. Since the introduction of "current account switch service" (CASS) by Payments Council, the gains and loses on the current accounts market by the leading banks have been closely monitored.