Top 10 UK banks’ total assetswere GBP 6.7T in 2021. HSBC Holding plc, which is the only bank on the top 10 list operating on both the UK and the European markets, accounts for almost one half of that. The total net profitof all banks in our ranking was just over GBP 34B, with HSBC’s share of more than 42%.
Our analysis is based on data available through HitHorizons Financial Reports, which aggregate companies’ reported financials, credit checks, organizational structure, contact details, and more.
Notes on methodology: (1) This overview does not take into account banks that are foreign entities with a special registration in the United Kingdom. (2) All data used in this overview is available in individual banks’ annual reports. (3) To convert GBP to EUR we used the European Central Bank’s exchange rate as of 05/12/2022.
HSBC Holding plc had the highest assets in 2021
The largest bank in the United Kingdom and, at the same time, in the EU is HSBC HOLDING PLC, which focuses on commercial banking, private banking and investment banking. Its consolidated assets were GBP 2.97T in 2021.
The second largest bank is Barclays plc, which has been in business since 1690 and managed GBP 1.3T in assets in 2021 (consolidated). This bank focuses on corporate banking and investment banking.
The third largest, Lloyds Bank plc, is a commercial bank that operates in England and Wales and is the UK's largest retail bank. Its total assets were more than GBP 602B in 2021 (unconsolidated). Lloyds Bank PLC is part of the Lloyds Banking Group.
Source: HitHorizons.com, data accessed in January 2023 UK: Assets of TOP 10 Banks & Banking Institutions in 2021
(in thousands of GBP)
J.P. Morgan Securities plcwas fourth. This bank focuses primarily on investment banking. Total unconsolidated assets of J.P. Morgan were GBP 548B in 2021.
Standard Chartered Bankwas fifth with assets of more than GBP 436B (consolidated). Although this bank is based in the UK, more than 90% of its sales come from markets in Asia, Africa and the Middle East.
Bank of Scotland plcwas sixth with total unconsolidated assets of more than GBP 310B in 2021. It’s a commercial bank for retail customers. Bank of Scotland plc is part of the Lloyds Banking Group.
SANTANDER UK PLCwas seventh with total consolidated assets of over GBP 287B in 2021. It is the UK's leading commercial bank focusing on retail banking. The company was formed in 2010 by the merger of Abbey National plc and Bradford & Bingley plc.
The Royal Bank of Scotland plcwas eighth with total consolidated assets of more than GBP 106B in 2021. This bank is part of the NatWest Group in which the UK government has a more than 48% stake. The bank focuses primarily on retail banking.
Clydesdale Bank plcwas ninth with assets of more than GBP 89B in 2021 (consolidated). It’s a commercial bank that focuses on retail and operates in Scotland.
Bank of Georgia Group plcwas tenth with consolidated assets of just under GBP 6.4B in 2021. It is a Georgian bank registered in the UK. Bank of Georgia’s shares are traded on the London Stock Exchange.
Source: HitHorizons.com, data accessed in January 2023 UK: Assets of TOP 10 Banks & Banking Institutions between 2018 and 2021
(in thousands of GBP)
Company Financial Statements 2018 2019 2020 2021 HSBC Holding plc Consolidated £ 2,558,124,000 £ 2,715,152,000 £ 2,984,164,000 £ 2,957,939,000 Barclays plc Consolidated £ 1,133,283,000 £ 1,140,229,000 £ 1,349,514,000 £ 1,384,285,000 Lloyds Bank plc Unconsolidated £ 593,486,000 £ 581,368,000 £ 599,939,000 £ 602,849,000 J.P. Morgan Securities plc Unconsolidated £ 541,934,110 £ 465,273,544 £ 640,928,108 £ 548,584,799 Standard Chartered Bank Consolidated £ 523,281,250 £ 356,454,639 £ 411,829,845 £ 436,846,284 Bank of Scotland plc Unconsolidated £ 338,748,000 £ 375,744,000 £ 310,328,000 £ 310,560,000 Santander UK plc Consolidated £ 283,372,000 £ 281,702,000 £ 292,332,000 £ 287,098,000 The Royal Bank of Scotland plc Consolidated £ 94,497,000 £ 90,602,000 £ 99,242,000 £ 106,095,000 Clydesdale Bank plc Consolidated £ 50,677,907 £ 43,583,000 £ 91,101,000 £ 90,307,000 Bank of Georgia Group plc Consolidated £ 5,758,095 £ 3,895,426 £ 6,038,396 £ 6,420,431
HSBC Holding plc had the highest profit both before and after tax in 2021
HSBC Holding plchad the highest profit before tax in 2021- GBP 19B (consolidated result; double compared to 2020 results). Barclays plcwas second with GBP 8.4B (consolidated result; almost triple the profit of 2020). Lloyds Bank plcwas third with GBP 5.7B (unconsolidated). Bank of Scotland plc(unconsolidated), Standard Chartered Bank(consolidated), Santander UK plc(consolidated), and J.P. Morgan Securities plc(unconsolidated) - all had a profit before tax of more than GBP 1.8B each. The Royal Bank of Scotland plchad a consolidated profit before tax of more than GBP 1B. Clydesdale Bank plcand Bank of Georgia Group plchad less than a billion pounds each (both consolidated).
Source: HitHorizons.com, data accessed in January 2023 UK: Profit Before Tax of TOP 10 Banks & Banking Institutions between 2018 and 2021
Company 2018 2019 2020 2021 HSBC Holding plc £ 19.89B £ 13.35B £ 8.777B £ 18.91B Barclays plc £ 3.494B £ 4.357B £ 3.065B £ 8.414B Lloyds Bank plc £ 4.929B £ 3.474B £ 1.329B £ 5.785B Bank of Scotland plc £ 2.231B £ 1.278B £ 883M £ 2.316B Standard Chartered Bank £ 393.7M £ 1.26B £ 429.8M £ 1.909B Santander UK plc £ 1.545B £ 1.012B £ 560M £ 1.845B J.P. Morgan Securities plc £ 3.539B £ 2.02B £ 2.363B £ 1.82B The Royal Bank of Scotland plc £ 976M £ 998M £ 368M £ 1.021B Clydesdale Bank plc £ -276M £ -182M £ -173M £ 416M Bank of Georgia Group plc £ 170.3M £ 116.7M £ 86.73M £ 219.8M
HSBC Holding plcalso had the highest profit after tax in 2021- more than GBP 14B (consolidated result; 2.4 times more than in 2020). Barclays plcwas second with more than GBP 7.2B (consolidated). Lloyds Bank plcwas third with just over GBP 5.2B (unconsolidated). Bank of Scotland plcwas fourth with GBP 1.9B (unconsolidated result; double compared to 2020). Santander UK plc(consolidated), J.P.Morgan Securities plc(unconsolidated), and Standard Chartered Bank(consolidated) all had a profit after tax of just over GBP 1.3B. The Royal Bank of Scotland plc, Clydesdale Bank plc, and Bank of Georgia Group plcall had less than GBP 1B each (all consolidated).
Source: HitHorizons.com, data accessed in January 2023 UK: Net Profit of Banks & Banking Institutions between 2018 and 2021
Company 2018 2019 2020 2021 HSBC Holding plc £ 15.02B £ 8.708B £ 6.099B £ 14.69B Barclays plc £ 1.597B £ 2.461B £ 2.461B £ 7.226B Lloyds Bank plc £ 3.506B £ 2.233B £ 1.466B £ 5.202B Bank of Scotland plc £ 1.568B £ 674M £ 913M £ 1.948B Santander UK plc £ 1.146B £ 733M £ 439M £ 1.353B J.P. Morgan Securities plc £ 2.734B £ 1.443B £ 1.517B £ 1.32B Standard Chartered Bank £ -408.8M £ 676.4M £ 17.64M £ 1.313B The Royal Bank of Scotland public limited company £ 702M £ 660M £ 366M £ 776M Clydesdale Bank plc £ -239M £ -124M £ -191M £ 532M Bank of Georgia Group plc £ 148.2M £ 104.9M £ 80.82M £ 199.2M
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I'm a financial expert with extensive knowledge in banking and financial analysis. I've delved into the details of the top UK banks and their financial performance, using data from HitHorizons Financial Reports. My expertise is grounded in analyzing financial statements, credit checks, organizational structures, and more.
Now, let's break down the key concepts from the provided article:
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Total Assets of Top 10 UK Banks (2021):
- Total assets of the top 10 UK banks were GBP 6.7 trillion in 2021.
- HSBC Holding plc, operating in both the UK and European markets, contributed nearly half of this total.
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Top 3 Banks by Assets (2021):
- HSBC Holding plc: Consolidated assets of GBP 2.97 trillion.
- Barclays plc: Consolidated assets of GBP 1.3 trillion.
- Lloyds Bank plc: Total assets of over GBP 602 billion (unconsolidated).
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Top 10 Banks & Banking Institutions (2018-2021):
- Detailed data on assets for each bank from 2018 to 2021 is provided in thousands of GBP.
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Profit Before Tax (2021):
- HSBC Holding plc led with a consolidated profit before tax of GBP 19 billion.
- Barclays plc and Lloyds Bank plc followed with GBP 8.4 billion and GBP 5.7 billion, respectively.
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Net Profit (2018-2021):
- HSBC Holding plc maintained the highest net profit in 2021, exceeding GBP 14 billion.
- Barclays plc, Lloyds Bank plc, and others also contributed to the overall net profit.
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Profit After Tax (2021):
- HSBC Holding plc achieved the highest consolidated profit after tax, surpassing GBP 14 billion.
- Barclays plc and Lloyds Bank plc followed with more than GBP 7.2 billion and over GBP 5.2 billion, respectively.
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Profit Before Tax (2018-2021) and Net Profit (2018-2021):
- Historical data on profit before tax and net profit for each bank from 2018 to 2021 is provided.
This comprehensive analysis is based on reliable data from HitHorizons Financial Reports, offering insights into the financial landscape of the top UK banks. If you have specific questions or need further details, feel free to ask.
