Published by Michele Maatouk on 4th August 2025
(Sharecast News) - High street banks across the UK have lost the equivalent of £100bn in savings as more customers turned from traditional lenders towards online banks and building societies, figures show. Experts at KPMG said rival banks - including new challenger banks, specialist lenders and building societies - had lured customers away from incumbent banking groups with higher savings rates. The traditional banks' market share in deposits dropped from 84% in 2019 to 80% in 2024, it added. - Guardian