UK: TOP 10 Banks with Highest Assets

Top 10 UK banks’ total assets were 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 profit of 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.

UK: Assets of TOP 10 Banks & Banking Institutions in 2021
(in thousands of GBP)

J.P. Morgan Securities plc was fourth. This bank focuses primarily on investment banking. Total unconsolidated assets of J.P. Morgan were GBP 548B in 2021.

Standard Chartered Bank was 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 plc was 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 PLC was 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 plc was 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 plc was 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 plc was 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.

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 plc had the highest profit before tax in 2021 - GBP 19B (consolidated result; double compared to 2020 results). Barclays plc was second with GBP 8.4B (consolidated result; almost triple the profit of 2020). Lloyds Bank plc was 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 plc had a consolidated profit before tax of more than GBP 1B. Clydesdale Bank plc and Bank of Georgia Group plc had less than a billion pounds each (both consolidated).

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 plc also had the highest profit after tax in 2021 - more than GBP 14B (consolidated result; 2.4 times more than in 2020). Barclays plc was second with more than GBP 7.2B (consolidated). Lloyds Bank plc was third with just over GBP 5.2B (unconsolidated). Bank of Scotland plc was 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 plc all had less than GBP 1B each (all consolidated).

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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