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Top UK Banks in 2022

10 Top Banks in the UK - Which Is the Best?

Are You Looking For a Bank That Can Weather the Storms & Protect Your Assets? With Over 350 Banks to Choose from in the UK, It's No Wonder That Your Head is Spinning. We've Shortlisted the Top 10 Banks.

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Top 10 UK Banks to Trust With Your Money

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We take a look at the top UK banks to help you decide the one that’s right for you.

The banking industry in the UK is the 4th largest in the world & the largest in Europe.

There are roughly 350 banks in the UK, which includes 160 foreign deposit-taking institutions & 47 building societies that are permitted to accept deposits.

With all these options it’s no wonder so many people experience decision paralysis.

Top 5 Largest Banks in the UK

The top 5 largest banks in the UK are HSBC Holdings, Lloyds Banking Group, Royal Bank of Scotland Group, Barclays, and Standard Chartered. These banks hold most of the monopoly on many financial services.

However, there’s a total of 10 banks that stand out from the crowd.

Top 10 Banks

Here’s a full list of the top 10:

  • HSBC Holdings
  • Lloyds Banking Group
  • Royal Bank of Scotland Group
  • Barclays
  • Standard Chartered
  • Santander UK
  • Nationwide Building Society
  • Schroders
  • Close Brothers Group plc
  • Coventry Building Society

UK banks have undergone major transitions over the past decade.

Let’s take a closer look at a brief history and the current status of the top UK banks.

hsbc

HSBC Holdings

HSBC is headquartered in London and was founded in 1880. Around 85,000 people work for the bank including subsidiaries.

Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking are the segments in which it works.

It manages 511 bank branches in the UK and another eight in the Isle of Man and the Channel Islands as of September 30, 2021.

schroders

Schroders

Schroders was founded in 1804 and is headquartered in London. Around 5,000 people work for the bank.

Retail Banking and Wealth Management, Commercial Banking,

Global Banking and Markets, and Global Private Banking are the segments in which it works.

It has 41 offices across Europe, America, Asia, Africa, and the Middle East, covering 27 countries.

close brothers group

Close Brothers

Close Brothers¹ was founded in 1920 and is based in London. Over 3,000 people work at the bank.

It works through three divisions: retail, commercial, and property.

Through motor dealers, insurance brokers, and merchants, the Retail sector provides intermediate finance, primarily to individuals.

The Commercial section provides secured credit to small and medium-sized businesses.

Professional developers can get home development finance from the Property division.

royal bank of scotland

Royal Bank of Scotland

The Royal Bank of Scotland was formed in 1695 and has headquartered in Edinburgh. Around 27,000 people work for the bank.

Personal and Business Banking, Ulster Bank RoI, Commercial Banking, Private Banking, RBS International,

NatWest Markets, Capital Resolution, Williams & Glyn, and Central Items and Other sectors operate as one of the UK’s banks.

lloyds banking group

Lloyds Banking Group

Lloyds Banking Group is one of the UK’s oldest running banks, having been founded in 1695.

The bank, which is headquartered in London, employs over 61,000 people.

It offers banking and financial services to individuals and businesses in the UK and overseas under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands.

standard chartered plc

Standard Chartered PLC

Standard Chartered PLC² was founded in 1893 and works in four segments:

Corporate and Institutional Banking, Retail Banking, Commercial Banking, and Private Banking.

It employs roughly 82,000 people and is headquartered in London.

It had 1,026 branches in the United Kingdom as of 2021, as well as 13 branches in the Isle of Man and the Channel Islands.

santander

Santander UK

The Santander Bank was established in 1988.

Around 21,600 people work at the bank. Retail Banking, Commercial Banking, and Global Corporate Banking are the three segments in which it works.

Santander, which is headquartered in London, operates through ATMs, telephonic, digital, mobile, Internet,

And intermediary channels in addition to its 841 branches and 67 corporate business centres.

nationwide building society

Nationwide Building Society

The Nationwide Building Society was founded in 1846 and works in two segments: retail and commercial.

The bank is headquartered in Swindon and employs over 13,000 people.

Current and savings accounts, ISA accounts1, residential mortgages, commercial real estate loans, project finance,

Social housing, personal and car loans, home renovation loans, and loans to housing associations are all available through the bank.

It also provides insurance and investment products,

As well as financial planning services, credit cards, current account overdrafts, and treasury, liquidity, and discrete banking services.

coventry building society

Coventry Building Society

Coventry Building Society³, based in London, offers a comprehensive range of construction and financial services.

Financial planning, mortgages, investment services, savings goods, brokerage services,

And insurance products like travel insurance are all available. Around 2,700 people work for the bank.

barclays

Barclay’s PLC

In 1690, Barclay’s PLC was founded.

Retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management are all services provided by the bank.

It employs over 83,000 people and is headquartered in London.

Conclusion

You’ve seen the list of the Most Trusted Banks in the UK. We hope that it’s made your decision process easier.

The most important thing to remember is to do your research and stay informed.

If you still have some unanswered questions, please contact us, and we’ll help you decide which of the top UK banks is right for you.

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