10 Biggest banks in the UK (2024)

The United Kingdom is home to some of the world’s largest and most successful banking and financial services organizations, including HSBC Holdings, Lloyds Banking Group, Royal Bank of Scotland Group, Barclays, Standard Chartered, Nationwide Building Society, Close Brothers, Schroders, and Coventry Building Society. These institutions provide a wide range of financial products and services and are committed to responsible banking practices, community support, and promoting financial literacy. This article will provide an overview of these top 10 financial institutions in the UK.

Top 10 UK banks

Rank	Bank	Assets (£) Pounds
1.	HSBC	1,942 trillion
2.	Barclays	1,222 trillion
3.	Lloyds	782 billion
4.	NatWest Group	689 billion
5.	Standard Chartered	543 billion
6.	Santander	253 billion
7.	Nationwide Building Society	251 billion
8.	Virgin Money UK	78.6 billion
9.	Investec	46.8 billion
10.	The Co-operative Bank	25.6 billion

1. HSBC

Assets: £1,942 trillion

HSBC is one of the largest and most well-known banking and financial services organizations in the world, with a history that dates back to 1865. It was originally established in Hong Kong as the Hong Kong and Shanghai Banking Corporation, and it has since grown to become a global institution with operations in over 64 countries and territories. In the UK, HSBC offers a comprehensive range of financial products and services, including personal and business banking, insurance, investments, and wealth management services.

The bank’s reputation for stability and security has been earned through a commitment to responsible banking practices and a focus on delivering quality financial solutions to its customers. In recent years, HSBC has also made significant investments in technology, allowing it to offer a range of digital banking services and make banking more accessible to customers.

2. Barclays 

Assets: £1,222 trillion

Barclays is one of the largest banking and financial services organizations in the UK and one of the largest in the world. Established in 1690, the bank has a long history of providing quality financial solutions to its customers and has a reputation for stability and security.

Barclays offers a wide range of financial products and services, including personal and business banking, insurance, investments, and wealth management services. The bank has a significant presence in the UK, with branches and ATMs located across the country, and it also offers a range of digital banking services, allowing customers to manage their finances from anywhere and at any time.

3. Lloyds Banking Group

Assets: £782 billion

Lloyds Banking Group is one of the largest and oldest banking institutions in the UK, with a history that dates back to 1765. The bank provides a wide range of financial products and services, including personal and business banking, insurance, and investment services, and it is known for its commitment to providing excellent customer service.

Lloyds has a significant presence in the UK, with branches and ATMs located across the country, and it also offers a range of digital banking services, allowing customers to manage their finances from anywhere and at any time. In recent years, the bank has been focused on improving its digital capabilities and investing in new technologies, such as mobile banking and artificial intelligence, to make banking easier and more convenient for its customers.

4. NatWest Group

Assets: £689billion

NatWest is one of the largest banks in the UK and is known for its commitment to providing quality financial solutions to its customers. Royal Bank of Scotland Group is part of NatWest.

Established in 1968, the bank has a long history of providing savings, mortgages, and insurance products to the public.

5. Standard Chartered 

Assets: £543 billion

Standard Chartered is an international bank with a strong presence in the UK and a history that dates back to 1853. The bank provides a wide range of financial products and services, including personal and business banking, insurance, and investment services, and it is known for its commitment to providing quality financial solutions to its customers.

Standard Chartered has a significant presence in the UK and operates in over 70 countries worldwide, offering a range of digital banking services to customers and making banking more accessible and convenient. In recent years, the bank has been focused on improving its digital capabilities and investing in new technologies, such as artificial intelligence and blockchain, to make banking easier and more convenient for its customers.

6. Santander UK

Assets: £253 billion

Santander is a leading investment bank that has been providing investment management services for several years. The company offers a wide range of investment solutions, including funds, trusts, and investment trusts, and it is known for its commitment to providing high-quality investment products to its customers.

Santander has a significant presence in the UK, with offices located across the country, and it operates in over 30 countries worldwide. The company is committed to providing excellent customer service and is known for its commitment to responsible investment practices, including environmental, social, and governance (ESG) investing.

7. Nationwide Building Society 

Assets: £251 billion

Nationwide Building Society is one of the largest building societies in the UK and is known for its commitment to providing quality financial solutions to its customers. Established in 1846, the society has a long history of providing savings, mortgages, and insurance products to its members, and it is a mutual organization, meaning that it is owned by its members.

Nationwide Building Society has a significant presence in the UK, with branches and ATMs located across the country, and it also offers a range of digital banking services, allowing customers to manage their finances from anywhere and at any time. The society is committed to providing excellent customer service and is known for its commitment to responsible banking practices.

8. Virgin Money UK

Assets: £78.6 billion

Virgin Money is one of the largest banking institutions in the UK. Established in 1995 by Virgin Atlantic owner, Richard Branson, the bank has a rich history and a reputation for stability and security.

Virgin Money offers a wide range of financial products and services, including retail and commercial banking, investment banking, and wealth management services, and it has a significant presence in the UK and internationally. In recent years, the bank has been focused on improving its digital capabilities and investing in new technologies, such as mobile banking and artificial intelligence, to make banking easier and more convenient for its customers.

9. Investec

Assets: £46.8 billion

Investec is a merchant bank and financial services organization that has been providing quality financial solutions to its customers since 1974. The bank offers a wide range of financial products and services, including personal and business banking, insurance, investments, and wealth management services, and it is known for its commitment to providing excellent customer service.

Investec was first created and headquartered in Johannesburg, South Africa but moved operations to the United Kingdom where it currently operates.

10. Co-operative Bank

Assets: £25.6 billion

Co-operative Bank is one of the largest building societies in the UK and is known for its commitment to providing quality financial solutions to its customers.

Established in 1872, the society has a long history of providing savings, mortgages, and insurance products to its members, and it is a mutual organization, meaning that it is owned by its members.

Conclusion

The top 10 financial institutions in the UK are leaders in the banking and financial services sector, offering a diverse range of products and services to meet the needs of customers and businesses.

They are committed to responsible banking practices, community support, and promoting financial literacy, and continue to invest in new technologies to improve the customer experience. These institutions play a significant role in the economic growth and stability of the UK.