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U.K. (FTSE) Banks Industry Analysis

UpdatedAug 01, 2026
DataAggregated Company Financials
Companies13
  • 7D1.1%
  • 3M16.5%
  • 1Y58.2%
  • YTD21.0%

In the last week, the Banks industry is up 2.8%, with HSBC Holdings up 1.5%. This means that the industry has gained 56% over the past year. Looking forward, earnings are forecast to grow by 9.7% annually.

Industry Valuation and Performance

Has the U.K. Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 01 Aug 2026UK£529.3bUK£134.8bUK£39.9b9.7x13.3x3.9x
Mon, 29 Jun 2026UK£491.9bUK£134.5bUK£39.5b9.6x12.4x3.7x
Wed, 27 May 2026UK£468.3bUK£133.3bUK£39.2b8.7x12x3.5x
Fri, 24 Apr 2026UK£451.8bUK£131.5bUK£38.4b9x11.8x3.4x
Sun, 22 Mar 2026UK£394.2bUK£131.5bUK£38.5b8.5x10.2x3x
Tue, 17 Feb 2026UK£444.3bUK£126.5bUK£34.8b9.4x12.8x3.5x
Thu, 15 Jan 2026UK£443.4bUK£125.2bUK£33.7b9.6x13.1x3.5x
Sat, 13 Dec 2025UK£413.1bUK£125.6bUK£33.8b9.1x12.2x3.3x
Mon, 10 Nov 2025UK£393.9bUK£126.3bUK£34.0b8.6x11.6x3.1x
Wed, 08 Oct 2025UK£373.8bUK£121.8bUK£34.5b9x10.8x3.1x
Fri, 05 Sep 2025UK£352.9bUK£122.0bUK£34.5b8.6x10.2x2.9x
Sun, 03 Aug 2025UK£341.1bUK£122.4bUK£34.5b9.2x9.9x2.8x
Tue, 01 Jul 2025UK£329.7bUK£120.2bUK£34.1b8.5x9.7x2.7x
Thu, 29 May 2025UK£324.4bUK£121.4bUK£34.5b8.2x9.4x2.7x
Sat, 26 Apr 2025UK£308.6bUK£122.8bUK£36.4b7.9x8.5x2.5x
Mon, 24 Mar 2025UK£320.0bUK£124.3bUK£36.8b8x8.7x2.6x
Wed, 19 Feb 2025UK£314.8bUK£124.0bUK£38.0b6.2x8.3x2.5x
Fri, 17 Jan 2025UK£287.9bUK£124.6bUK£37.5b4.8x7.7x2.3x
Sun, 15 Dec 2024UK£273.7bUK£122.8bUK£36.8b5x7.4x2.2x
Tue, 12 Nov 2024UK£261.2bUK£121.4bUK£36.3b5x7.2x2.2x
Thu, 10 Oct 2024UK£214.6bUK£96.1bUK£30.4b6x7.1x2.2x
Sat, 07 Sep 2024UK£210.1bUK£97.5bUK£30.6b6x6.9x2.2x
Mon, 05 Aug 2024UK£206.9bUK£98.8bUK£31.1b6.2x6.7x2.1x
Wed, 03 Jul 2024UK£217.9bUK£97.4bUK£31.5b6x6.9x2.2x
Fri, 31 May 2024UK£222.2bUK£97.3bUK£31.5b6.3x7.1x2.3x
Sun, 28 Apr 2024UK£213.8bUK£97.8bUK£31.8b6x6.7x2.2x
Tue, 26 Mar 2024UK£229.8bUK£121.2bUK£36.6b5.2x6.3x1.9x
Thu, 22 Feb 2024UK£210.2bUK£130.3bUK£41.0b5.2x5.1x1.6x
Sat, 20 Jan 2024UK£186.6bUK£109.5bUK£37.5b5.2x5x1.7x
Mon, 18 Dec 2023UK£198.2bUK£109.5bUK£37.5b5.4x5.3x1.8x
Wed, 15 Nov 2023UK£187.9bUK£110.1bUK£37.8b5.3x5x1.7x
Fri, 13 Oct 2023UK£211.6bUK£104.9bUK£34.8b5x6.1x2x
Sun, 10 Sep 2023UK£192.0bUK£103.6bUK£34.4b5.2x5.6x1.9x
Tue, 08 Aug 2023UK£206.4bUK£101.7bUK£33.6b5.2x6.1x2x
Price to Earnings Ratio

6.1x


Total Market Cap: UK£206.4bTotal Earnings: UK£33.6bTotal Revenue: UK£101.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Banks Industry Price to Earnings3Y Average 8.6x202420252026
Current Industry PE
  • Investors are optimistic on the British Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 13.4x which is higher than its 3-year average PE of 8.6x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 4.0x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 5.7% per year over the last three years.
  • Revenues for these companies have grown 9.7% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.K. Financials industry?

GB Market1.17%
Financials0.65%
Banks1.12%
Diversified Banks1.16%
Regional Banks-4.92%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 8.6x.
    • Analysts are expecting annual earnings growth of 9.7%, which is lower than the prior year's growth of 13.8% per year.
  • Investors are most pessimistic about the Regional Banks industry, which is trading below its 3-year average of 21.8x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings growth rate of 5.7% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 9.7% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
HSBA HSBC HoldingsUK£15.761.5%
+UK£4.0b		71.7%PB1.9x
NWG NatWest GroupUK£7.064.4%
+UK£2.4b		38.0%PB1.3x
STAN Standard CharteredUK£21.882.4%
+UK£1.1b		61.5%PB1.2x
LLOY Lloyds Banking GroupUK£1.151.1%
+UK£814.2m		51.4%PB1.4x
HSBK Halyk Bank of KazakhstanUS$32.051.7%
+US$149.8m		30.5%PB1.1x

Latest News

LLOY
UK£1.15
Lloyds Banking Group
7D
1.1%
1Y
51.4%
CBG
UK£4.26
Close Brothers Group
7D
1.1%
1Y
7.0%
NWG
UK£7.06
NatWest Group
7D
4.4%
1Y
38.0%
STAN
UK£21.88
Standard Chartered
7D
2.4%
1Y
61.5%
HSBA
UK£15.76
HSBC Holdings
7D
1.5%
1Y
71.7%
BARC
UK£5.09
Barclays
7D
-3.2%
1Y
42.6%
BGEO
UK£116.10
Lion Finance Group
7D
-0.8%
1Y
52.2%
Narrative Update • Jul 28

BGEO: Higher Rating And Ongoing Capital Returns Will Support Future Upside

Analysts have lifted the Lion Finance Group price target by £800, from £13,100 to £13,900. This change reflects updated views on fair value, discount rate, revenue growth and profit margin assumptions in their models.
ARBB
UK£8.40
Arbuthnot Banking Group
7D
1.5%
1Y
-17.4%
MTRO
UK£1.77
Metro Bank Holdings
7D
-1.2%
1Y
43.2%
SHAW
UK£3.28
Shawbrook Group
7D
-7.3%
1Y
n/a
HSBK
US$32.05
Halyk Bank of Kazakhstan
7D
1.7%
1Y
30.5%
Narrative Update • Jul 08

HSBK: Refined P/E Assumptions And Governance Update Will Support Upside Potential

Analysts have adjusted their price target for Halyk Bank of Kazakhstan to $35.00 from $31.90, citing updated fair value estimates, a slightly lower discount rate, and refined assumptions for long term profit margins and P/E levels. What's in the News for Halyk Bank of Kazakhstan JSC Halyk Bank shareholders approved an amendment to the Charter of JSC Halyk Bank at the Annual General Shareholders' Meeting held on April 23, 2026.
TBCG
UK£48.12
TBC Bank Group
7D
1.1%
1Y
1.5%
Narrative Update • Jul 08

TBCG: Dividend Policy And Leadership Changes Will Support Future Upside

Analysts have modestly lifted their price target on TBC Bank Group to £57.79 from £55.00, citing updated assumptions around discount rates, profit margins and forward P/E multiples. What’s in the News for TBC Bank Group TBC Bank Group appointed Ernst & Young LLP as the company’s auditor at the Annual General Meeting held on May 19, 2026.
STB
UK£15.82
Secure Trust Bank
7D
-1.9%
1Y
62.4%
Narrative Update • Jun 23

STB: Higher Assumed Profitability Will Drive Future Upside Potential

Analysts have modestly adjusted their fair value estimate for Secure Trust Bank to £20.00 per share. This reflects updated assumptions around revenue growth, profit margins and future P/E expectations.