Banks in the United Kingdom

Key Highlights

• The banking industry involves the activities of banks and similar institutions that offer financial services such as savings, loans, mortgages, and related services to businesses and consumers.
• The UK banks industry group recorded assets of $12.47 trillion in 2023, representing a compound annual growth rate (CAGR) of 3.2% between 2018 and 2023.
• The bank credit segment accounted for the industry group's largest proportion in 2023, with total assets of $6.94 trillion, equivalent to 55.6% of the industry group's overall value.
• In 2023, the revenue of the UK banks industry group witnessed an annual contraction of 1.8% due to the fall in mortgage lending and interest income. According to the Bank of England, in November 2023, individual mortgage lending was at net zero and the actual interest paid on newly drawn mortgages, or the "effective" interest rate, increased by 9 basis points to 5.34%.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the banks market in the United Kingdom
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the banks market in the United Kingdom
• Leading company profiles reveal details of key banks market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the United Kingdom banks market with five year forecasts by both value and volume

Reasons to Buy

• What was the size of the United Kingdom banks market by value in 2023?
• What will be the size of the United Kingdom banks market in 2028?
• What factors are affecting the strength of competition in the United Kingdom banks market?
• How has the market performed over the last five years?
• Who are the top competitors in the United Kingdom's banks market?