United Kingdom (UK) Retail Banking – Competitor Benchmarking 2021

United Kingdom (UK) Retail Banking – Competitor Benchmarking 2021

Summary

This report, which is part of a series of UK content including market analysis and consumer profiles, looks at market performance, retention risk, and current account market share. It ranks the UK's top banks across a range of criteria, from digital adoption and user experience to rewards and money management tools.

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In terms of retail deposit market share, only NatWest and HSBC have made meaningful gains since 2010. Residential mortgage growth has been strong for all banks except Lloyds, Santander, and The Co-operative Bank. Lloyds Bank dominates the credit card space, while Barclays and NatWest saw their personal loan market shares decline over the review period.

Scope

– All incumbents increased total divisional assets (TDA) over the previous fiscal year, with Barclays and NatWest posting the highest gains.

– The UK has seen digital habits retained in 2021, although this may be due to stringent COVID-19 measures remaining in place for parts of the year.

– Competitive prices are ranked as the third most important attribute to consumers in the UK, while loyalty rewards rank fifth. These two factors will be critical to customer retention and acquisition.

Reasons to Buy

– Discover which banks in the UK are performing best.

– Learn which banks are under threat and are perceived as behind the curve by customers.

– Understand the UK retail banking landscape and how it may develop based on key performance indicators.

Table of content

Table of Contents
Executive Summary
Financial Performance, Market Share, and Cross Selling
Channel Visitation Trends and Digital Adoption
Customer Satisfaction
Appendix

 

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