Retail Saving in the UK, Key Trends and Opportunities to 2018

Consumers' increasing saving motivations since the recession has led to five consecutive years of moderate growth in the retail savings industry, despite low interest rates, high unemployment and lower wages.

Scope

This report provides market analysis, information and insights into the UK retail savings market:

• It provides a breakdown of the different forms of retail savings in the UK

• It analyses drivers and the outlook for the market

• It provides information on the main banks in the UK market

• It covers news and regulatory developments

Key Highlights

Consumers' increasing saving motivations since the recession has led to five consecutive years of moderate growth in the retail savings industry, despite low interest rates, high unemployment and lower wages.

Reasons to buy

• Gain an understanding of the UK retail savings industry

Companies mentioned

Barclays Plc

HSBC Bank Plc

Lloyds Banking Group Plc

Santander UK Plc

The Royal Bank of Scotland Group Plc

Nationwide Building Society Plc

National Savings and Investments

Table of Contents

1 Executive Summary

2 Introduction

3 Market Analysis

4 Consumers

5 Competitive Landscape

6 Porter's Five Forces Analysis

7 Regulations and Compliance

8 Deals

9 News

10 UK Retail Banks

11 Statistics

12 Appendix

List of Tables

Table 1: Banking Industry Definitions 8

Table 2: The UK – Cash ISA Market Summary, Financial Years 2009–2013 15

Table 3: The UK – Retail Savings Market Summary (GBP Billion, end-year), 2009–2013 22

Table 4: The UK – Interest Rate Expectations, 2011–2014 30

Table 5: The UK Retail Saving – Competitor Interest Rates (%), Financial Year 2014/15 33

Table 6: The UK Retail Saving – SWOT Analysis 35

Table 7: Recent and Upcoming Regulatory Changes 40

Table 8: Barclays Plc, Key Facts 44

Table 9: Barclays Plc, Main Savings Products 44

Table 10: Barclays Plc, Board of Directors 45

Table 11: HSBC Bank Plc, Key Facts 46

Table 12: HSBC Bank Plc, Main Savings Products 46

Table 13: HSBC Bank Plc, Board of Directors 47

Table 14: Lloyds Banking Group Plc, Key Facts 48

Table 15: Lloyds Banking Group Plc, Main Products 48

Table 16: Lloyds Banking Group Plc, Board of Directors 49

Table 17: National Savings and Investments, Key Facts 50

Table 18: National Savings and Investments, Main Products 50

Table 19: National Savings and Investments, Board of Directors 51

Table 20: Nationwide Building Society, Key Facts 52

Table 21: Nationwide Building Society, Main Products 52

Table 22: Nationwide Building Society, Board of Directors 53

Table 23: Santander UK Plc, Key Facts 54

Table 24: Santander UK Plc, Main Products 54

Table 25: Santander UK Plc, Board of Directors 55

Table 26: The Royal Bank of Scotland Group Plc, Key Facts 56

Table 27: The Royal Bank of Scotland Group Plc, Main Products 56

Table 28: The Royal Bank of Scotland Plc, Board of Directors 57

Table 29: The UK – Retail Savings Market (GBP Billion), 2009–2013 58

Table 30: The UK – Retail Savings Market (GBP Billion), 2014–2018 58

List of Figures

Figure 1: The UK – Household Cash Deposits – Balances Outstanding (GBP Billion), 2007–2013 11

Figure 2: The UK – Deposits by Institution (GBP Billion), 2008–2013 12

Figure 3: The UK – Balances Outstanding on Household Deposits at Monetary and Financial Institutions (GBP Billion), 2008–2013 13

Figure 4: The UK – Balances Outstanding on Household Deposits at National Savings and Investments (GBP Billion), 2008–2013 14

Figure 5: The UK – Balances Outstanding on Household Deposits in Cash ISAs (GBP Billion), 2008–2013 15

Figure 6: The UK – Cash ISA Balances as a Share of Total Deposit Balances Outstanding (%), 1999–2013 16

Figure 7: The UK – Sight and Time Deposits Balances Outstanding at Monetary and Financial Institutions (GBP Billion), 2008–2013 17

Figure 8: The UK – Average Saving Account Interest Rates (%, End-year), 2011–2013 18

Figure 9: The UK – Household Cash Deposits – Balances Outstanding (GBP Billion), 2014–2018 20

Figure 10: The UK – Balances Outstanding at Monetary and Financial Institutions (GBP Billion), 2014–2018 20

Figure 11: The UK – Balances Outstanding at NS&I (GBP Billion), 2014–2018 21

Figure 12: The UK – Balances Outstanding in Cash ISAs (GBP Billion), 2014–2018 21

Figure 13: The UK – Retail Savings Market Growth Dynamics (%), 2009–2018 22

Figure 14: The UK – Real GDP Growth (%), 2008–2018 23

Figure 15: The UK – Unemployment and Redundancy Rates (%), 2004–2012 24

Figure 16: The UK – Average Weekly Earnings (GBP), 2004–2013 24

Figure 17: The UK – Household Disposable Income (GBP), 1997–2013 25

Figure 18: The UK – Consumer Price Inflation (%), 2004–2013 26

Figure 19: The UK – Bank of England Rate (%), 2004–2014 27

Figure 20: The UK – Household Savings Ratio (%), 2004–2013 28

Figure 21: The UK – Bonus and Standard Savings Account Interest Rates (%), 2011–2013 29

Figure 22: The UK – Number of Complaints About Savings Products, 2006–2013 30

Figure 23: Market Shares of the 10 Leading Retail Saving Institutions (%), 2013 32

Figure 24: The UK Retail Saving – Five Forces Analysis 36

Figure 25: The UK – Banking Regulatory Framework 38

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