Distribution of monetary financial institutions (MFIs) in the UK 2020

As of January 2020 there were a total of 454 monetary financial institutions (MFIs) operating in the United Kingdom (UK), of which the majority where credit institutions (banks). The definition of MFIs according to the European Central Bank (ECB) is "Monetary financial institutions" (MFIs) are resident credit institutions as defined in European Union (EU) law, and other resident financial institutions whose business is to receive deposits and/or close substitutes for deposits from entities other than MFIs and, for their own account (at least in economic terms), to grant credits and/or make investments in securities."