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Largest banks in the UK - statistics & facts

The United Kingdom is home to several of the most important banks in Europe. Three UK based banks - HSBC, Barclays, and Lloyds banking Group – are not only the largest banks in the country, but also rank among the top 10 banks in Europe in terms of market capitalization. All three banks have a market capitalization above 30 billion U.S. dollars, while the largest - HSBC - is the largest bank in Europe with a market capitalization of over 107 billion U.S. dollars. In addition, UK based banks Barclays and Lloyds rank as the ninth and tenth largest in Europe. Other large and well-known banks in the United Kingdom are NatWest Group and Standard Chartered, even though they do not rank among the top players in Europe.

Are large banks the best banks?

The largest banks in the United Kingdom perform well according to profitability and stability measures, such as common equity tier 1 (CET1) ratio, where all of the largest banks are well above the minimum requirements of the Basel III accord. According to customers, however, satisfaction seems to be higher among the new competitors: the online banks like Starling Bank and Monzo Bank. These relatively new actors in the banking sector see a high number of net current account customers switching to their banks, while the giants such as Barclays and HSBC have seen large net losses of customers during the last few years.

Which are the popular online banks in the United Kingdom?

There are several online banks operating in the United Kingdom, but the most popular two are Monzo Bank and Starling Bank. Monzo was founded in 2015 and is a digital-only bank with no physical branches. Their customer numbers are growing rapidly, and as of 2021, the bank had five million customers, a figure that has more than doubled in two years. The other major digital-only bank in the country, Starling Bank, was founded in 2014 and has also been a huge success. The bank has had high ratios of new gained customers during the last few years, despite the downward trend in 2021. Though the bank operates globally, most of their customers are from the United Kingdom.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Sep 23, 2022

Key insights

Largest European bank, by market capitalization
HSBC Holdings
Largest European bank, by total assets
HSBC
Market capitalization of HSBC Holdings
116.6bn EUR
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Editor’s Picks Current statistics on this topic

Global number of customers at the largest banks in the United Kingdom (UK) from in 2022 (in millions)

Banks

Leading UK banks by number of customers 2022

Leading banks in Europe 2021, by total assets (in billion U.S. dollars)

Banks

Largest European banks in 2021, by assets

Largest banks in the United Kingdom (UK) in 2021, by total assets (in billion euros)

Banks

Leading UK banks 2021, by total assets

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