- UK-based financial and related professional services accounted for over 11% of total economic output (£290bn) in 2025 – equivalent to around £10,000 for every household in the UK.
- The industry employed one in every 13 people in the workforce – almost 2.5 million people – across the UK in 2024, with two thirds of those jobs based outside London.
- UK-based financial and related professional services generated a trade surplus of £119.1bn in 2024.
New research from TheCityUK shows the significant role UK-based financial and related professional services play in contributing to economic growth, employment and investment across the country.
The ‘Key facts about UK-based financial and related professional services 2026’ report shows that in 2025 (latest available data), the industry contributed around £11 in every £100 of economic output generated in the UK in 2025 (£290bn overall), which is equivalent to around £10,000 for every household in the UK. It also generated a total trade surplus of £119.1bn in 2024, equivalent to 3.2% of GDP. This total was driven by financial services alone generating a £92.6bn surplus, the largest of any single sector in the UK.
The industry remains a major national employer, with almost 2.5 million people employed across the country in 2024, accounting for 7.5% of total UK employment. Around two thirds of these jobs are based outside London, with cities such as Birmingham, Edinburgh, and Manchester each employing around 60,000 people, and 24 other areas each employing over 20,000. This underlines the industry’s important contribution to regional economies and communities across the UK.
The report also makes clear the industry’s role in supporting households and businesses across the UK through savings, pensions and mortgages, as well as lending and investment. For example, UK fund managers managed £12.1trn in assets in 2024, while major banks provided £582bn in lending to UK businesses as of February 2026, with more than a third directed to SMEs.
Anjalika Bardalai, Chief Economist and Director of Economic Research, TheCityUK, said, “The data presented in our new report highlights the scale and breadth of the contribution financial and related professional services continue to make across the UK. The industry plays a critical role in supporting economic growth and productivity, providing tax revenues to help pay for public services and generating consistent trade surpluses. The report also highlights the industry’s broader enabling role within the economy, helping individuals and businesses manage their finances and invest for the future. This includes pensions and mortgage provision for households, and lending, fundraising and advisory services for businesses.”
Other key facts from the report:
- The outstanding amount of loans made available by major banks to UK businesses totalled £582bn as of February 2026, with 34.3% lent to SMEs.
- UK asset managers invested £54bn into UK infrastructure projects in 2024, supporting areas including renewable energy, transport and public health.
- Mortgage lending increased by 20.4% in 2025, to £296.2bn.
- UK and international companies raised £9.2bn through issues of shares on the London Stock Exchange in 2025.
- In 2025, the UK private equity and venture capital sector reached £58.7bn in total fundraising - the highest amount raised on record.
- The industry plays an important role in social initiatives such as financial education, with institutions offering a range of programmes, resources and initiatives to support young people improve their financial capability and digital literacy skills, knowledge, confidence and financial wellbeing.
- Financial services remained the second-largest source of charitable donations among FTSE 100 sectors in 2024, accounting for 20.7% of total donations.