Intensified competition for deposits among UK banks becomes a key focus of financial reports

Bitget

News

智通财经2026/11/02 14:06

Show original

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

The core issue in the Q3 financial reports of major UK banks is not bank taxes, rising interest rates, inflation, or artificial intelligence, but rather deposit competition.
UBS analyst Napier stated during the Lloyds Banking Group earnings call that deposits have become the primary area of concern for investors.
Other analysts even apologized for repeatedly raising questions about deposits.
The reports from various banks highlight the intensity of deposit competition: In the three months ending September 30, Lloyds Bank’s UK retail savings deposits decreased by £300 million.
NatWest Group’s private banking and wealth management deposits also experienced a similar-scale decline.
Barclays’ UK corporate banking deposits fell by £2 billion compared to the previous quarter.
HSBC Holdings indicated that while a key profitability metric remained stable, new competitive pressures on customer deposits in markets including the UK offset part of the positive impact.
Deposits are a source of funds for banks at a lower cost than the wholesale funding market; banks use these deposits to provide loans and generate income.
A contraction in deposit volume means banks must either reduce loan issuance or bear higher funding costs.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

Intensified competition for deposits among UK banks becomes a key focus of financial reports

You may also like

Crypto prices