HSBC was the largest bank in the United Kingdom as at the end of 2023, boasting total assets valued at approximately 3.04 trillion U.S. dollars. As of 2023, HSBC was also the largest bank in Europe, and it stood as one of the global banking industry's leading institutions. Following HSBC, Barclays held the second-highest value of assets in the UK, trailed by Lloyds.
Market capitalization of the banking sector in Europe and UK
A different measure, frequently employed to determine the size of a bank, is market capitalization, or the total dollar market value of a company's outstanding shares. Market capitalization is calculated from the current market price of one share and the number of shares outstanding for a company. In 2023, HSBC was the largest bank in terms of market capitalization trading on the London Stock Exchange and overall in Europe.
What does HSBC do?
HSBC is a British multinational bank and financial services institution headquartered in London, United Kingdom. The bank serves customers with commercial banking, global private banking, global banking and markets, and personal financial services. The largest geographical region of the bank, in terms of revenue generation, is Asia. At the end of 2022, the bank had roughly 221,000 employees around the world.
Largest banks in the United Kingdom (UK) in 2023, by total assets
(in billion British pounds and U.S. dollars)
This statistic was compiled by Statista using the annual and interim reports of each displayed bank. Among the displayed banks, HSBC Holdings and Standard Chartered report in U.S. dollars. In these cases, USD to GBP exchange rates as of December 31, 2023, were used to calculate the figures in British pounds. For the other banks, GBP to USD exchange rates as of December 31, 2023, were used. In the cases of Nationwide Building Society and Virgin Money UK, exchange rates as of April 4, 2024, and September 30, 2023, were used.
USD to GBP - June 30, 2023: 0.7855 GBP to USD - June 30, 2023: 1.273 GBP to USD - September 30, 2023:1.2197 GBP to USD - April 4, 2024: 1.2502
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Statista. (June 6, 2024). Largest banks in the United Kingdom (UK) in 2023, by total assets (in billion British pounds and U.S. dollars) [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/386948/uk-banks-total-assets-ranking/
Statista. "Largest banks in the United Kingdom (UK) in 2023, by total assets (in billion British pounds and U.S. dollars)." Chart. June 6, 2024. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/386948/uk-banks-total-assets-ranking/
Statista. (2024). Largest banks in the United Kingdom (UK) in 2023, by total assets (in billion British pounds and U.S. dollars). Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/386948/uk-banks-total-assets-ranking/
Statista. "Largest Banks in The United Kingdom (Uk) in 2023, by Total Assets (in Billion British Pounds and U.S. Dollars)." Statista, Statista Inc., 6 Jun 2024, https://www.statista.com/statistics/386948/uk-banks-total-assets-ranking/
Statista, Largest banks in the United Kingdom (UK) in 2023, by total assets (in billion British pounds and U.S. dollars) Statista, https://www.statista.com/statistics/386948/uk-banks-total-assets-ranking/ (last visited December 30, 2024)
Largest banks in the United Kingdom (UK) in 2023, by total assets (in billion British pounds and U.S. dollars) [Graph], Statista, June 6, 2024. [Online]. Available: https://www.statista.com/statistics/386948/uk-banks-total-assets-ranking/
