HSBC UK BANK PLC
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Next accounts due
2026-06-30 (in 1mo)
Last filed for 2024-12-31
Confirmation statement due
2026-08-11 (in 3mo)
Last made up 2025-07-28
Watchouts
Cash
£52B
-20.5% vs 2023
Net assets
£26B
-0.6% vs 2023
Employees
20,034
-1.9% vs 2023
Profit before tax
£6B
-15.5% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £10,807,000,000 | £9,979,000,000 | |
| Operating profit | £6,679,000,000 | £5,647,000,000 | |
| Profit before tax | £6,679,000,000 | £5,647,000,000 | |
| Net profit | £5,254,000,000 | £4,139,000,000 | |
| Cash | £65,719,000,000 | £52,276,000,000 | |
| Total assets less current liabilities | — | — | |
| Net assets | £26,070,000,000 | £25,911,000,000 | |
| Equity | £26,070,000,000 | £25,911,000,000 | |
| Average employees | 20,415 | 20,034 | |
| Wages | £1,007,000,000 | £1,086,000,000 | |
| Directors' remuneration | £1,519,000,000 | £1,877,000,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-7.7%
£10,807,000,000 £9,979,000,000
-
Cash
-20.5%
£65,719,000,000 £52,276,000,000
-
Net assets
-0.6%
£26,070,000,000 £25,911,000,000
-
Employees
-1.9%
20,415 20,034
-
Operating profit
-15.5%
£6,679,000,000 £5,647,000,000
-
Profit before tax
-15.5%
£6,679,000,000 £5,647,000,000
-
Wages
+7.8%
£1,007,000,000 £1,086,000,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 61.8% | 56.6% | |
| Net margin | 48.6% | 41.5% | |
| Gearing (liabilities / total assets) | 92.2% | 92.4% | |
| Interest cover | 6.45x | 5.45x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- HSBC UK BANK PLC 2017-08-21 → present
- HSBC UK RFB PLC 2017-08-08 → 2017-08-21
- HSBC UK RFB LIMITED 2015-12-23 → 2017-08-08
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Board has made appropriate enquiries, is satisfied that the group as a whole has adequate resources to continue operations for a period of at least 12 months from the date of this report, and it, therefore, continues to adopt the going concern basis in preparing the financial statements.”
Group structure
- HSBC UK BANK PLC · parent
- Assetfinance December (P) Limited 100%
- Assetfinance March (D) Limited 100%
- B&Q Financial Services Limited 100%
- HSBC Capital Funding (UK) Limited 100%
- HSBC Equipment Finance (UK) Limited 100%
- HSBC Invoice Finance (UK) Limited 100%
- HSBC Innovation Bank Limited 100%
- HSBC Private Bank (UK) Limited 100%
- HSBC UK Client Nominee Limited 100%
- HSBC UK Pension Trust (UK) Limited 100%
Significant events
- “The Group completed the acquisition of Silicon Valley Bank UK Limited ('SVB UK'), later renamed HSBC Innovation Bank Limited (HINV), on 10 March 2023, which gave rise to a £1.307m non-recurring gain.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
12 active · 18 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MACKAY, Fiona Mary | Secretary | 2024-10-01 | — | — |
| AFOLAMI, Abimbola Olubunmi Edet | Director | 2025-01-09 | Feb 1986 | British |
| BINGHAM, Jonathan | Director | 2026-04-08 | Jan 1975 | British |
| CALVER, Simon John | Director | 2023-04-01 | Jul 1964 | British |
| CORBETT, Oliver Roebling Panton | Director | 2024-01-01 | Jan 1965 | British |
| DITTMEIER, Carolyn Adele | Director | 2024-10-01 | Nov 1956 | Italian |
| FAIRBAIRN, Dame Carolyn Julie | Director | 2026-04-13 | Dec 1960 | British |
| GOLDIE-SCOT, Jenny Fiona | Director | 2022-07-19 | Nov 1955 | British |
| HEGDE, Mridul, Ms. | Director | 2018-02-07 | Mar 1967 | British |
| HENRY, Janet Bernadette | Director | 2022-11-01 | Feb 1969 | British |
| KNIGHT, Zoe Andrea | Director | 2024-01-01 | Oct 1974 | British |
| LINDBERG, David Robert | Director | 2025-12-08 | Mar 1975 | British |
Show 18 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BLACK, Nicola Suzanne | Secretary | 2017-05-30 | 2024-09-30 |
| MUSGROVE, Robert Hugh | Secretary | 2015-12-23 | 2016-03-23 |
| BAIRD, Marie Claire | Director | 2022-01-06 | 2026-03-27 |
| CALLADINE, Jonathan James | Director | 2017-10-02 | 2021-05-26 |
| COYLE, James | Director | 2018-05-01 | 2024-07-31 |
| FURSE, Clara Hedwig Frances, Dame | Director | 2017-04-01 | 2026-04-30 |
| HENNITY, Richard John | Director | 2015-12-23 | 2017-09-19 |
| HOLT, Denise Mary, Dame | Director | 2018-05-01 | 2021-04-20 |
| KEIR, Alan Mcalpine | Director | 2018-02-01 | 2021-12-31 |
| LEITH, Rosemary Blaire | Director | 2018-02-01 | 2022-02-16 |
| LISTER, David William | Director | 2018-05-01 | 2024-04-24 |
| MUSGROVE, Robert Hugh | Director | 2015-12-23 | 2016-03-23 |
| NELSON, Brendan Robert | Director | 2025-01-09 | 2026-04-29 |
| PLATONOVA, Ekaterina | Director | 2022-10-19 | 2023-04-17 |
| STUART, John David | Director | 2017-05-30 | 2026-01-12 |
| VAN DE WALLE, Philippe Leslie | Director | 2018-02-01 | 2023-04-26 |
| WATTS, David Michael, Mr. | Director | 2017-10-02 | 2021-12-14 |
| WOTTON, Stephen James | Director | 2016-03-23 | 2017-09-19 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Hsbc Holdings Plc | Corporate entity | Shares 75–100%, Voting 75–100% | 2021-06-21 | Active |
| Hsbc Uk Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-03-21 | Ceased 2021-06-21 |
| Hsbc Holdings Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-10-26 | Ceased 2017-03-21 |
Filing timeline
Last 20 of 133 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-10-28 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-05 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-30 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-15 | AP01 | officers | Appoint person director company with name date | |
| 2026-04-13 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-30 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-23 | MORT MISC | mortgage | Mortgage miscellaneous | |
| 2026-01-13 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-30 | MORT MISC | mortgage | Mortgage miscellaneous | |
| 2025-12-16 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-05-30 | AA | accounts | Accounts with accounts type group | |
| 2025-01-14 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-09 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-12 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2024-12-12 | CERT17 | capital | Certificate capital reduction issued capital share premium cancellation share premiumn | |
| 2024-12-12 | OC138 | capital | Legacy | |
| 2024-11-18 | SH01 | capital | Capital allotment shares | |
| 2024-10-28 | RESOLUTIONS | resolution | Resolution | |
| 2024-10-01 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-01 | TM02 | officers | Termination secretary company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 11
- Capital events
- 4
- Officers appointed
- 3
- Officers resigned
- 4
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.