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