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Top 10 facts


04/05/2007

The UK banking sector contributes significantly to the UK and its economy:

         

  • Banking employs close to half a million people. The wider financial industry employs over 1.1 million and, together with related activities (accountancy, business, computer and legal services, etc), some 3 million people rely on the financial industry for their jobs.

  • Banks and financial services contribute £70bn to the UK's national output (6.8% of GDP)

  • Banks and financial services provide 25% of total corporation tax (£8bn) to the UK Gov

  • The main retail banks provide over 125m accounts, clear 7bn transactions a year and facilitate 2.3bn cash withdrawals per year from its network of over 30,000 free ATMs

  • Banks provide cost-effective banking services to 95% of the UKs population

  • In 2005, 24m personal customers registered to access their bank accounts online, while 42 million are registered to access their accounts by telephone

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