The source defines challenger and specialist banks as those which have a UK banking licence but are not one of the five biggest UK banks by total lending.
Figures obtained from several editions of the same report.
Citation formats
SME lending market share of challenger banks in the UK 2019-2024
Challenger banks significantly expanded their SME lending between 2019 and 2024, leading to a notable increase in their market share. From 2021 onward, they accounted for more than **** of all SME lending, and by 2024, their share had risen to ** percent.
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British Business Bank. (February 27, 2025). Market share of challenger and specialist banks in gross bank lending to SMEs in the United Kingdom (UK) from 2019 to 2024 [Graph]. In ÌÇÐÄÆÆ½â°æ. Retrieved July 24, 2026, from /statistics/1617954/challenger-banks-market-share-sme-lending/
British Business Bank. "Market share of challenger and specialist banks in gross bank lending to SMEs in the United Kingdom (UK) from 2019 to 2024." Chart. February 27, 2025. ÌÇÐÄÆÆ½â°æ. Accessed July 24, 2026. /statistics/1617954/challenger-banks-market-share-sme-lending/
British Business Bank. (2025). Market share of challenger and specialist banks in gross bank lending to SMEs in the United Kingdom (UK) from 2019 to 2024. ÌÇÐÄÆÆ½â°æ. ÌÇÐÄÆÆ½â°æ Inc.. Accessed: July 24, 2026. /statistics/1617954/challenger-banks-market-share-sme-lending/
British Business Bank. "Market Share of Challenger and Specialist Banks in Gross Bank Lending to Smes in The United Kingdom (Uk) from 2019 to 2024." ÌÇÐÄÆÆ½â°æ, ÌÇÐÄÆÆ½â°æ Inc., 27 Feb 2025, /statistics/1617954/challenger-banks-market-share-sme-lending/
British Business Bank, Market share of challenger and specialist banks in gross bank lending to SMEs in the United Kingdom (UK) from 2019 to 2024 ÌÇÐÄÆÆ½â°æ, /statistics/1617954/challenger-banks-market-share-sme-lending/ (last visited July 24, 2026)
Market share of challenger and specialist banks in gross bank lending to SMEs in the United Kingdom (UK) from 2019 to 2024 [Graph], British Business Bank, February 27, 2025. [Online]. Available: /statistics/1617954/challenger-banks-market-share-sme-lending/