The five biggest banks in the UK dominate the domestic market, with an 87% market share between them in 2012, according to Mintel data reported in the Financial Times.
In a speech this Friday, Ed Miliband is expected to call for them to sell off some branches to increase competition in the industry.
The 'Big Five' and their subsidiaries:
- HSBC - includes First Direct, M&S bank
- Barclays - includes Woolwich
- RBS - includes NatWest and Ulster Bank
- Lloyds - includes Halifax, Bank of Scotland, HBOS, TSB
- Santander - includes Abbey, Bradford & Bingley, Alliance and Leicester
More top news
An axe-wielding man who attacked four New York City police officers has been shot dead.
Suddenly demanding £1.7 billion with a month to cough up is as good an opportunity to say 'Non, non, non!' as the PM could have wished for.
A slight slowdown in growth is pretty much as expected. There were signals from various surveys that the economy was slowing.