Deposits at the UK’s four biggest banks have fallen by close to £80bn over the past year.
NatWest, Lloyds, HSBC and Barclays experienced total outflows of about £78bn in the 12 months to June 2023, according to an analysis of corporate filings.
That is the largest drop over four quarters since June 2018, the most recent year for which data is available for all of the lenders.
While the “big four” still hold close to £240bn more in deposits than they did in 2019, rival lenders’ offer of higher interest rates is forcing them to improve their own deals.
