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Independent British banks

The table shows the main independent British banks, in order of market capitalisation. The list is quite short as British banking has been highly consolidated since the early 20th century. Unlike some other major economies, the UK does not have a major stratum of independent local banks. The list has shrunk further during 2008: Northern Rock was nationalised by the UK Government, followed by Bradford & Bingley; Alliance & Leicester has been acquired by Banco Santander, owners of Abbey National; Lloyds TSB plc announced, on 18 September 2008, a confirmed agreement to take over HBOS plc^[1][2][3].

Note: Market values retrieved on 4 October 2008 from Times Online ^[4]. Assets listed as of 2 April 2008, apart from Co-operative Bank which are listed as of^[update] 31 December 2004, and are listed in billions of pounds sterling and U.S. dollars.^[5] Also note that market values have been highly volatile in 2008, due to the sub-prime mortgage crisis.

There are however a small number of independent specialist or local banks. They are all just a small fraction of the size of the smallest of the banks in the table above: Airdrie Savings Bank, C. Hoare & Co, Close Brothers Group, Julian Hodge Bank, N M Rothschild & Sons. There is also a government-run savings bank called National Savings and Investments.

The other main class of consumer financial service organisation in the United Kingdom is the building society, but the building society sector is much smaller than it used to be as many major building societies demutualised in the 1980s and 1990s. Halifax (now part of HBOS) and Abbey National (now foreign owned) were the two largest building societies. The remaining building societies which demutualised have all subsequently been acquired, either through nationalisation or acquisition by other banks. See the building society article for a list of the largest remaining building societies. Only the Nationwide is large enough to appear in the table above if it were a bank.

Other British banking brands owned by British companies

• Bank of Scotland: merged with Halifax to form HBOS, but still trades under the Bank of Scotland name.
• Birmingham Midshires: owned by HBOS.
• Cheltenham & Gloucester: owned by Lloyds TSB.
• Coutts & Co: a subsidiary of NatWest, owned by the Royal Bank of Scotland.
• first direct: telephone and internet banking brand owned by HSBC.
• Halifax: merged with the Bank of Scotland to form HBOS but still trades under the Halifax name.
• Harrods Bank: owned by Harrods, a department store in London.
• Intelligent Finance: telephone and internet banking brand owned by HBOS.
• National Westminster Bank: now owned by Royal Bank of Scotland Group.
• Reliance Bank: owned by the The Salvation Army.
• Sainsbury's Bank: 50% owned by British supermarket company Sainsbury's and 50% owned by HBOS.
• Smile: telephone and internet banking brand owned by the Co-operative Bank.
• Tesco Personal Finance: owned by British supermarket company Tesco; until July 2008, it was a 50:50 joint venture between Tesco and the Royal Bank of Scotland.
• Ulster Bank: a subsidiary of NatWest, owned by the Royal Bank of Scotland.
• The Woolwich: owned by Barclays.

Nationalised banks controlled by HM Government

National Savings and Investments (NS&I), originally founded in 1861, helps the UK Government gain additional finance, other than taxation, at lower rates than borrowing direct from the markets.

Northern Rock was nationalised in February 2008 after the first run on a bank in more than a century.

On 29 September 2008, the Treasury announced that Bradford & Bingley was to be partially nationalised and partially sold to Banco Santander, following talks on the day before. The process is ongoing. ^[6]

HBOS and RBS have a substantial number of preference shares in UK Government hands, that will eventually reach approximately 40% and 60% of the total share issue of the respective banks (although the banks themselves remain in the private sector).

UK banking brands owned by foreign banks

• Abbey and its online subsidiary Cahoot: owned by Banco Santander of Spain. It was Britain's sixth largest bank by assets when it was taken over in 2004.
• Alliance & Leicester: owned by Banco Santander; to be managed as a separate entity from Abbey, at least in the short term.
• Allied Irish Bank (GB): owned by AIB Group of the Republic of Ireland.
• Bank of Ireland: based in the Republic of Ireland. One of the leading banks in Northern Ireland, and present in Great Britain to a lesser extent.
• Bradford & Bingley: nationalised in September 2008, with the savings book and this aspect of the brand sold to Abbey.
• Clydesdale Bank: owned by National Australia Bank.
• Egg Banking plc was established by the British insurance company Prudential plc, and sold to Citigroup for £575m in January 2007.
• First Trust Bank: owned by AIB Group of the Republic of Ireland.
• Northern Bank: owned by Danske Bank of Denmark.
• Yorkshire Bank: owned by National Australia Bank.

Foreign banks in the United Kingdom

Overseas consumer banking brands which are available in the UK. Virtually all of the world's leading banks have investment and commercial banking offices in the City of London.

Banks incorporated outside the EEA authorised to accept deposits through a branch in the United Kingdom

• ABSA Bank Ltd
• American Express Bank Ltd
• Arab National Bank
• Australia and New Zealand Banking Group Ltd
• Banco do Brasil SA
• Bangkok Bank Public Company Ltd
• Bank Hapoalim BM
• Bank Melli Iran
• Bank of America NA
• Bank of Baroda
• Bank of Ceylon
• Bank of China
• Bank of East Asia Ltd, The
• Bank of India
• Bank of Montreal
• Bank of New York, The
• Bank of Nova Scotia, The
• Bank of Taiwan Limited
• Bank of Tokyo Mitsubishi UFJ Limited, The
• Canadian Imperial Bank of Commerce
• Canara Bank
• Chang Hwa Commercial Bank Ltd
• Chiba Bank Ltd, The
• CIMB Bank Berhad
• Citibank NA
• Commonwealth Bank of Australia
• Credit Suisse
• Deutsche Bank Trust Americas, London Branch
• DBS Bank Ltd
• Emirates Bank International PJSC
• First Commercial Bank
• Gulf International Bank BSC
• Habib Bank AG
• Habib Bank Ltd
• Hongkong and Shanghai Banking Corporation Ltd, The
• HSBC Bank USA NA
• Hua Nan Commercial Bank Ltd UBS AG
• ICICI Bank
• Industrial Bank of Korea United Overseas Bank Ltd
• Israel Discount Bank Ltd
• JPMorgan Chase Bank
• Korea Development Bank, The
• Korea Exchange Bank
• Macquarie Bank Ltd
• Malayan Banking Berhad
• Mashreqbank PSC
• Mega International Commercial Bank Co. Ltd
• Mellon Bank, NA
• Mitsubishi UFJ Trust and Banking Corporation
• Mizrahi Tefahot Bank Limited
• Mizuho Corporate Bank Ltd
• Nacional Financiera SNC
• National Australia Bank Ltd
• National Bank of Abu Dhabi
• National Bank of Canada
• National Bank of Dubai PJSC, The
• Nedbank Ltd
• Norinchukin Bank, The
• Northern Trust Company, The
• Oversea-Chinese Banking Corporation Ltd
• Pt Bank Negara Indonesia (Persero) TBK
• Qatar National Bank SAQ
• Rafidain Bank (Provisional Liquidator Appointed)
• Riyad Bank
• RBC Dexia Investor Services Trust
• Royal Bank of Canada
• Samba Financial Group
• Shanghai Commercial Bank Ltd
• Shinhan Bank Company Limited
• State Bank of India
• State Street Bank and Trust Company
• Sumitomo Trust & Banking Co Ltd, The
• Syndicate Bank
• Toronto-Dominion Bank, The
• Turkiye Is Bankasi AS
• Union Bancaire Privée, UBP
• United National Bank Ltd
• Wachovia Bank, National Association
• Wells Fargo Bank, National Association
• Westpac Banking Corporation
• Woori Bank
• T.C. Ziraat Bankasi A.S.

Banks incorporated in the EEA entitled to accept deposits through a branch in the United Kingdom

• ABN Amro Mellon Global Securities Services BV
• ABN AMRO Bank NV
• Allfunds Bank SA
• Allied Irish Bank plc
• Alpha Bank AE
• Anglo Irish Bank Corporation plc
• Banca di Roma SpA
• Banca d'Intermediazione Mobiliare IMI SpA
• Banca March SA
• Banca Monte Dei Paschi Di Siena SpA
• Banca Nazionale del Lavoro SpA
• Banca Popolare di Lodi
• Banco Bilbao Vizcaya Argentaria SA
• Banco De CajaSeville Plc
• Banco de Sabadell
• Banco Espírito Santo SA
• Banco Itau Europa
• Banco Popolare di Verona & Novara
• Banco Santander SA
• Banco Santander Totta SA
• Bank Insinger de Beaufort NV
• Bank of Cyprus Public Company Ltd
• Bank of Ireland, The
• Bank of Scotland (Ireland) Ltd
• Banque AIG
• Banque Transatlantique SA
• Bayerische Hypo-Und Vereinsbank AG
• Bayerische Landesbank
• BLOM BANK France
• BNP Paribas
• BNP Paribas Private Bank
• BNP Paribas Securities Services
• Byblos Bank Europe SA
• Caixa Geral de Depósitos SA
• Caja de Ahorros del Mediterraneo
• Calyon Natixis
• Commerzbank AG
• Confederacion Espanola de Cajas de Ahorros
• Crédit Agricole SA
• Crédit Industriel et Commercial Piraeus Bank SA
• Crédit Lyonnais
• Danske Bank A/S
• Deutsche Bank AG
• Deutsche Postbank AG
• Dexia Bank Belgium SA
• Dexia Banque Internationale à Luxembourg SA
• Dexia Credit Local SA (Dexia Public Finance Bank SA)
• DnB NOR Bank ASA
• Svenska Handelsbanken AB (PUBL)
• Dresdner Bank AG Sygma Banque
• DZ Bank AG, Deutsche Zentral-Genossenschaftsbank
• EFG Eurobank Ergasias AE
• Emporiki Bank of Greece SA
• Erste Bank der Oesterreichischen Sparkassen AG
• Eurohypo AG
• FIMAT International Banque
• Fortis Bank SA/NV
• GE Corporate Finance Bank SAS
• Glitnir Banki hf
• HSH Nordbank AG
• Hypo Public Finance Bank
• Hypo Real Estate Bank International AG
• ING Direct NV
• ING Bank NV
• Intesa Sanpaolo SpA
• Irish Nationwide Building Society
• IXIS Corporate & Investment Bank
• Jyske Bank A/S
• Kas Bank NV
• KBC Bank NV
• Landesbank Baden-Württemberg
• Landesbank Berlin Girozentrale
• Landesbank Hessen-Thüringen Girozentrale
• Landsbanki Islands hf
• Lehman Brothers Bankhaus AG
• Marfin Popular Bank Public Company Ltd
• Merrill Lynch International Bank Limited
• National Bank of Greece SA
• Norddeutsche Landesbank Girozentrale
• Nordea Bank Finland plc
• Rabobank International (Coöperatieve Centrale Raiffeisen-Boerenleenbank Ba)
• Raiffeisen Zentralbank Osterreich AG
• SEB AG
• Skandinaviska Enskilda Banken AB (PUBL)
• Société Générale
• State Street Bank GmbH
• TD Waterhouse Bank NV
• Triodosbank NV
• Ulster Bank Ireland Ltd
• Ukio Bankas AB
• UniCredito Italiano SpA
• Westdeutsche ImmobilienBank AG
• Western Union International Bank GmbH
• WestLB AG

Foreign banks incorporated in the United Kingdom

• Bank of New York Mellon Europe
• Bank of Philippine Islands (Europe)
• Citibank International
• Credit Suisse International
• Credit Suisse (UK)
• DB UK Bank
• ICICI Bank UK
• JP Morgan Europe
• JP Morgan International Bank
• Mitsubishi UFJ Securities International
• Mizuho International
• Philippine National Bank (Europe)
• United National Bank
• Sun Bank
• Credem Bank

References

1. ^ "Lloyds TSB confirms deal to take over HBOS" (2008-09-18). Retrieved on 2008-09-18.
2. ^ "Recommended acquisition of HBOS plc by Lloyds TSB Group plc". Lloyds TSB (2008-09-17). Retrieved on 2008-09-18.
3. ^ BBC News: HBOS confirms Lloyds merger talks; Guardian: Banking crisis: Lloyds TSB in talks to buy HBOS
4. ^ Type company name into "Quote Search" box.
5. ^ the Forbes Global 2000 list, April 2008.
6. ^ BBC: Treasury to nationalise B&B bank; BBC: B&B nationalisation is confirmed

See also

• Banking in the United Kingdom
• Building society

External links

• Consequences of Abbey's potential of Alliance and Leicester
• BBA - British Bankers' Association - BBA Member Banks
• Complete List of Banks in United Kingdom

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