Banking in the United Kingdom was emerged in the 16th century. Most of the top Banks in the UK were formed two decades ago. The Industrial Revolution and increasing international trade has been the primary reason for the burgeoned establishment of banks in the United Kingdom. Most of the banks provides retail and corporate banking services, Insurance and other financial services. The top banks in UK include Barclays, HSBC, Standard Chartered, Royal Bank of Scotland & Lloyds along with banking companies like HBOS, Bank of Scotland, Natwest, Santander & Nationwide. Here is the list of the top 10 banks in UK 2016.
Nationwide Bank was established in 1925, as The Ohio Farm Bureau Federation which was managed by Murray D. Lincoln, the longest served leader in the organization.
In 1955, the company changed its brand name to Nationwide Insurance, and in 1997, Nationwide went public. In 2009, Nationwide Corporation become the wholly owned subsidiary of Nationwide Mutual Insurance Company (Nationwide) purchase all the outstanding shares of Nationwide Financial Services.
Nationwide is a Fortune 100 company that offers a wide range of Insurance and Financial services across United Kingdom. Nationwide is the United Kingdom’s second largest mortgage and savings provider. Nationwide’s common equity Tier 1 ratio and leverage ratio are the key measures of their financial strength. The cost income ratio is the key measure of their efficiency. Nationwide has been encouraging people across the country towards saving money.
In 2013, Nationwide became the first financial services provider to launch digital wallet facility to its customers in UK, which aims to offer better online shopping experience. Nationwide won the Gallup’s Great Workplace Award to the best performing workforces in the world consecutively for last 4 years. In 2016, The Nationwide was awarded the Mortgage and savings provider of the year. It was names in the top 50 employers for women’s list. Nationwide wins best Loyalty rewards for existing customers.
In 2015, Net interest income was 2861 mn Euro which is 458 mn Euro higher than the Net interst income of 2014. The increase in income was contributed by lower retail funding costs and growth in retail assets. The weighted average total assets increased by 2% as growth in retail assets is more than the offset by treasury assets and non-core commercial assets during the financial year.