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United Kingdom
Banking sector profile — Europe
Data as of October 2026 • TGB Intelligence Unit
Sector overview
Structure and performance
The UK banking system is large relative to the economy: the balance sheet of UK-resident banks and building societies was £10.7tn in July 2026, about 3.6 times GDP, reflecting London's role as an international wholesale banking centre, and 54% of liabilities were in foreign currency. The PRA regulates 148 UK-incorporated banks and 120 branches of overseas banks, alongside 42 building societies. Domestic retail and commercial banking is led by Lloyds Banking Group, NatWest, Barclays, HSBC UK, Santander UK and Nationwide, while HSBC Holdings and Standard Chartered are internationally oriented groups headquartered in London.