Leading international banking services
UK is the largest offshore renminbi centre - accounting for a third of offshore renminbi foreign exchange activities outside of China.
Ranked first in Europe for Islamic finance according to the Islamic Finance Country Index 2018, the UK has twice the number of institutions offering Islamic finance services than the US, and is far ahead of any other western country.
Assets of UK-based institutions that offer Islamic finance services totalled around $6bn (equivalent to £4.7bn) in 2017.
A future-ready banking system
The Bank of England has found the UK banking system to be resilient to more severe stress tests than the global financial crisis.
The UK banking sector is a dynamic mix of large retail banks, established challengers, digital challengers and fintechs. Changing consumer demands and technology are reshaping the retail banking sector. Challenger banks, fintechs and new market entrants are helping reimagine the sector’s retail propositions.
A new breed of customer is now demanding seamless digital delivery, excellence in customer service and greater personalisation. The impact of technology will continue to grow. Automation and artificial intelligence will deliver increased cost savings and improved operating efficiency.