Four banks (HSBC, Barclays, Lloyds and NatWest Group) dominate the sector yet there are approximately 350 banks in the United Kingdom, inclusive of 160 foreign deposit banking institutions. These are Top 10 Banks in UK 2021, representing the country’s banking sector, making it the fourth largest in the whole of Europe.

They also have 47 building societies who are allowed to accept deposits. The United Kingdom also boasts of the second oldest central bank in the world (the Bank of England), established on July 27 of 1694. Its impossible discussing about money, finance and banking without mentioning be top 10 banks in UK. Below is a list of the best banks in the UK in terms of total assets.


This is the largest and best bank in the country as far as assets and market capitalization is concerned. HSBC operates about 3 600 branches and offices worldwide, employs more than 226 000 people and has over 40million clients. Key business areas for these top 10 banks in UK 2021 are: commercial and private banking, retail banking, wealth management, global banking and market. As of December 2020, HSBC was worth about USD3 trillion in total assets.

2. Barclays

Barclays is a very popular bank worldwide, arguably even more than HSBC, though it sits on the position of second best in the UK. For your corporate banking, wealth management, foreign exchange, insurance, savings and current accounts, mortgages, credit and debit cards, money transfer, online banking and other services; Barclays offers all through one of the largest branch and ATM network in the country. The company’s Headquarters is in London and it employs over 84 000 people. In 2020 they made a revenue of USD30 billion and a net income of USD3.3 million.

3. Lloyds Banking Group

In third position is a banking group whose main line of business is retail and commercial banking, life and non-life insurance, pension and investment services. The company has subsidiaries namely; Lloyds Bank, Bank of Scotland, Scottish Widows, Lloyds Development Capital, Agricultural Mortgage Corporation, Black Horse Ltd and Lex Autolease among others. The company was established in 1765 and is listed on the London and New York stock exchange.

4. NatWest Group

NatWest Group was formerly RBS Group and has its headquarters in Edinburgh. This banking and financial services provider has about 60 000 employees and 19 million customers. The company’s subsidiaries are well-known brands including NatWest, Royal Bank of Scotland, Uster Bank, Coutts, Adam and company, Child and co, Drummonds, Isle of Man Bank, Lombard and Holt’s Military Banking. For the year ended December 31 of 2020, the group recorded £10.8 billion in revenue and £44 billion in total equity.

5. Standard Chartered

Standard Chartered plc is a global financial services organization which operates in over 60 markets and has more than 1 000 branches. Its banking services include wholesale and consumer including deposits, personal and business loans, wealth management, auto finance, mergers and acquisition advisory, online banking, international money transfer and more. Standard Chartered was named “Best Consumer Digital Bank” by Global Finance.

6. Santander UK

This is the largest foreign bank and third largest mortgage lender in the UK. Santander UK plc is also the fifth largest commercial lender in the country. It offers savings and investment, accounts, mortgage loans, car loans, business lending, insurance as well as a range of credit cards including everyday credit card, all in one credit card, zero credit card and Santander World Elite Mastercard.

7. Nationwide

This one is the largest building society in the country and it is based in Swindon, Sout West England. Swindon Building Society is also the largest in the world and employs approximately 18 500 people and stretches its service to over 16 million members. Swindon offers savings and current accounts, mortgages, personal loans, credit cards, retirement and investment services. For the year ended in April 2020 the company reported a profit after tax of £365 million.

8. Virgin Money

Virgin Money plc is the eighth largest bank in the UK by assets and offers an array of products and services. They provide cash ISAs, stocks and shares ISAs, fixed terms accounts, unit trusts, life and travel insurance, auto insurance, pension and retirement products, international money transfers, commission-free currency, travel credit cards, all round and purchase credit cards, prepaid cards, online and telephone banking to metion a few. The company trades on the London Stock Exchange and the Australian Securities Exchange (SAX)

9. Investec

This is a specialist bank and investment manager which offers private, corporate and investment banking, wealth and asset management, advisory services, securities trading and more. It trades on the Johannesburg and London stock exchanges with a market capitalisation of USD3.1 billion as of March 31 of 2021.

10. The Co-operative Bank

This bank is British and based in Manchester. It is a retail and commercial bank which offers current and savings accounts, consumer and mortgage loans, credit cards, insurance, prepaid funeral plans, financial planning, investments, project finance, treasury services, and mobile and online banking. Most of these top 10 banks in UK 2021 are covered by Financial Services Compensation Scheme (FSCS) which pays compensation if financial services firms fail.

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