SNL Financial has released a new report exploring the state of the U.K’s banking system. Using the latest financial data, the report contains a ranking of the U.K’s 10 largest banks and building societies, an economic and industry overview, risk profile of the sector, branch network information, profiles of the major banks, M&A, regulation and a summary of common stock offerings.

Highlights:

• Among the top four U.K. banks, HSBC’s 7.46% ROAE, 1.83% net interest margin and 64.16% cost-to-income ratio put it in the leading position in 2014.
• Among the big four, Lloyds Banking Group had the lowest gross impaired loans ratio at 2.93% in 2014 while its Core Tier 1 ratio of 12.80% was the strongest.
• At the other end of the spectrum, Royal Bank of Scotland Group had the highest proportion of gross impaired loans at 8.04% and was the only bank among the four to report a loss for 2014. The company also reported the worst net interest margin and cost-to-income ratio at 0.94% and 88.03%, respectively.
• The U.K. banking sector held £7.927 trillion of assets as of June 30, 2014, down 14.7% since June 30, 2010.
• U.K. banks have far fewer branches than their peers in other parts of Europe. In 2012, the U.K. had 1.8 branches per 10,000 residents, compared to between 4.5 and 7.2 branches per 10,000 residents in Spain, France, Germany and Italy in 2013.
• From Jan. 1, 2013, to March 18, 2015, U.K.-based banks have completed 22 common stock offerings worth more than £13 billion, according to SNL data.
  

*Santander UK Plc was not included in SNL’s 2013 world ranking because it was based on the ultimate parent institution. Only one institution per corporate structure was included. Banco Santander SA was ranked at number 18.