Nisheeth's Blog

The UK banking system is among the most developed and strictly regulated around the globe. It places at the center of the country's economy and is one of the world's leading global financial centers, with London among the top three worldwide. The system involves numerous different types of banks, along with regulatory frameworks and financial institutions. This includes the following: 1. Type of Banks in the UK: 1.1. Retail Banks: Provide both personal and business banking facilities to all. Products offered: current accounts, savings accounts, loans, credit cards, mortgages, and payment service The major retail banks in the UK are Barclays HSBC Lloyds Banking Group (includes Lloyds, Halifax, and Bank of Scotland) NatWest Group (includes NatWest, Royal Bank of Scotland, and Ulster Bank) Santander UK These banks are broadly represented through their presence of branches and digital banking. 1.2. Investment Banks: Major business streams: corporate banking, wealth management, and ...