Banks in the United Kingdom are mainly focusedon the following areas:
The Governor and Company of the Bank of England
Financial Conduct Authority
Currently there are 325 credit institutions operating in United Kingdom.
In 2022 consolidated banking assets in the United Kingdom were 9,340.36 bln GBP. The consolidated banking assets' evolution is shown at Chart 1 below.
Chart 1. Consolidated banking assets in United Kingdom.
Recent structural changes (2013 - 2022) of the banking sector of United Kingdom are summarised in Table 1.
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
| Opened Banks | 9 | 9 | 9 | 18 | 18 | 18 | 6 | 10 | 4 | 6 |
| Closed Banks | 23 | 9 | 8 | 14 | 10 | 11 | 19 | 23 | 12 | 10 |
| Change | -14 | 0 | +1 | +4 | +8 | +7 | -13 | -13 | -8 | -4 |
Table 1. Recent structural changes in the banking sector of United Kingdom.
The list of the most recently opened banks in United Kingdom is provided in Table 2.
| Name | Start Date |
|---|---|
 | August 2022 |
 | July 2022 |
 | July 2022 |
 | June 2022 |
 | June 2022 |
 | January 2022 |
 | October 2021 |
 | August 2021 |
 | July 2021 |
 | February 2021 |
Table 2. The most recently opened banks in United Kingdom.
All the credit institutions operating in United Kingdom can be classified into several categories. Table 3 summarises the number of banks in each category.
| Category | Number of Banks |
|---|---|
| Banks | 151 |
| Banks | 1 |
| Branches of foreign banks | 128 |
| Building societies | 43 |
| Central banks | 1 |
| Savings banks | 1 |
Table 3. Number of banks by category in United Kingdom.
There are 112 branches of foreign banks from 37 different countries in United Kingdom. Table 4 shows 10 countries having the biggest number of branches in United Kingdom.
| Country of Origin | Number of Branches |
|---|---|
 France | 9 |
 Japan | 7 |
 Canada | 7 |
 United States | 6 |
 Germany | 6 |
 Australia | 5 |
 Switzerland | 5 |
 Spain | 5 |
 Ireland | 5 |
 Bahrain | 4 |
Table 4. Number of branches of foreign banks in United Kingdom grouped by country of origin.
Deposit guarantee scheme is a financial stability mechanism implemented in many countries to protect bank depositors against the loss of their deposits in the case when a bank is unable to meet its obligations to depositors by compensating certain deposits held by depositors of the bank. This compensation is paid out from the contributions which banks have made into a deposit guarantee fund.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in United Kingdom are summarised in Table 5.
Table 5. Deposit guarantee scheme in United Kingdom.
In the United Kingdom there is one deposit guarantee fund, namely Financial Services Compensation Scheme (FSCS).
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
Local currency (Pound sterling) deposit ceiling for United Kingdom is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).
Chart 2. Deposit Rates in United Kingdom. Source: ECB.
