British Bank

By: EconomyWatch Content   Date: 2 November 2009

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EconomyWatch Content

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EconomyWatch, Content Team

 

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Established under a Royal Charter, the Royal British Bank was established in 1849. Due to scandals, the bank collapsed in 1856 as it was a British joint stock bank. The probes and convictions found each of the eight directors of the bank guilty and got them incarcerated. However, it was only until 1858 that all except one were released.

With time, many new banks emerged, with concrete organization structures and transparent processes. In fact, many of them have market value as huge as £125.02 billion.

British Bank: The Top Five

On the basis of market value, the following are the top 5 British banks:

HSBC Bank: With its UK headquarter in London and the market value at £125.02 billion, The HSBC bank leads the pack with the biggest market proportion. The bank has a diversified portfolio of financial products such as:

·        current accounts

·        savings

·        investment options

·        credit cards

·        loans

·        mortgage

·        insurance

·        international banking

The bank also offers innovative solutions for corporate houses.

Barclays Bank: With a market value of £42.31 billion, the Barclays Bank was the country’s first bank to have installed an ATM for money withdrawals. Their rich portfolio of products is:

·        insurance

·        current accounts

·        savings

·        loans

·        mortgages

·        credit cards

·        financial planning

Standard Chartered: With its headquarters in London and market value at £32.27 billion, this bank is highly trusted for its customized products and priority banking services. Priority banking offers benefits such as:

·        special prices for deposits and loans

·        special fee waiver on routine banking transactions

·        free international transfer

They also offer:

·        credit cards

·        current accounts

·        corporate loans

Royal Bank of Scotland Group: With its HM treasury holding almost 70.33% and thereby controlling the major shares, this bank has a market value of £27.25 billion. It has its headquarters at Edinburgh and offers a gamut of financial solutions such as:

·        retail banking

·        wealth management

·        insurance

·        corporate loans

·        mortgage

 

Lloyds Banking Group: The bank holds a market value of £25.36 billions.          The UK government holds a 43% controlling stake in the bank but the bank remains in the private sector. This bank offers almost the same portfolio at different rates.

Another popular British Bank is the Co-operative B with its total assets worth £39 billion.


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