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Charity Banking Spotlight report March 2016 with foreword_Layout 1 18/03/2016 11:39 Page 1 Charity Banking Spotlight report March 2016 with foreword_Layout 1 18/03/2016 11:39 Page 2 Charity Banking Spotlight Contents 2 Introduction 3 Banking spotlight report 4 The most popular banks 5 Top 25 banks used by the top 5,000 charities 6 Banks listed by client cash 8 Banks used by the top 100 charities 9 Longevity of contracts 10 The value of charity cash 11 Top charities by cash Produced by Slack Communications for Charity Financials www.charityfinancials.com 1 Charity Banking Spotlight report March 2016 with foreword_Layout 1 18/03/2016 11:39 Page 3 Charity Banking Spotlight Introduction Barclays are delighted to sponsor this Spotlight Banking Report. 2016 has brought fresh pressures that charities are having to address. But, tough times demand innovative approaches, and charities are embracing creative commercialisation fuelled by diversity of ideas, to support their main charitable cause. With efficiency at a premium, we believe there is an increasingly rational case for consolidation within the sector. The benefits of bringing two back offices together for example can provide significant advantages, and help a charity leverage its brand wider, reaching more beneficiaries and we expect to see more mergers in 2016. The digital agenda is also set to drive major change within the sector. The increasing influence of social media presents a huge opportunity to charities. Whilst it has been used very effectively for individual campaigns, the charity that can find the way to harness the power of social media for regular donations will be a market leader and drive significant change in fundraising. We hope this Spotlight Report will be a tool that allows you to benchmark your bank, and consider how they support the growth of your charity. Barclays are committed to working with the Charities and Not-for-Profit sector to make a real difference to people’s lives. Our dedicated Charities team are focused solely on providing banking services and solutions to charities across the UK. As part of this, we invest heavily in innovation and thought leadership to enhance the quality of the overall sector offering for the better. We hope you enjoy the report and welcome you to contact me with any questions you might have. David McHattie Head of Charities Team Tel: 0207 116 4898 Email: [email protected] www.charityfinancials.com 2 Charity Banking Spotlight report March 2016 with foreword_Layout 1 18/03/2016 11:39 Page 4 Charity Banking Spotlight Banking spotlight report This report brings news that Barclays has overtaken NatWest as the most used bank by the top 5,000 charities. Barclays increased its number of clients by 17 while NatWest increased by six, as eight of the top ten banks recorded increases. Elsewhere: n CAF Bank gained the most clients, up 24, while the Co-operative Bank lost the most, shedding 21; n Among the top 100 charities, Barclays has the most clients with 32, well ahead of HSBC with 15; n Some 58% of the top 5,000 charities have been with their bank for a decade or more; n The cash held by the top 5,000 charities increased by 1.9% on the previous year’s figure; n The charity with the most borrowing is Aston Student Villages with £169.5m. Methodology Charity Financials records the names of all the advisers employed to provide services to the top 5,000 charities. These include auditors, investment managers, banks and legal advisers, as well as any others mentioned within charities’ annual financial statements. By recording the names of the advisers listed by each charity every year, we have identified when changes take place, the length of time relationships exist for, and how often charities make such changes. Background to the top 5,000 charities To be included in Charity Financials’ top 5,000 charities, an organisation must have either an annual income greater than £1.526m, annual expenditure greater than £1.548m, or total funds/net assets greater than £3.458m. Only one of these criteria needs to be met. Some organisations are excluded despite having charitable status, namely independent schools, universities and housing associations. Those organisations which are included are a varied group, both in terms of size and activity. Some focus on local services while others are involved in complex international projects. Some exist to provide funding to other organisations. One thing they have in common is that they all need some form of banking service provider. www.charityfinancials.com 3 Charity Banking Spotlight report March 2016 with foreword_Layout 1 18/03/2016 11:39 Page 5 Charity Banking Spotlight The most popular banks Barclays overtakes NatWest to become the market-leader After a couple of years narrowing the gap with NatWest, Barclays has become the market leader as the most popular bank among the top 5,000 charities in the UK. Barclays now has 1,029 clients compared to 1,026 for NatWest. NatWest has consistently had over a thousand clients for each year over the past five years but Barclays has grown its client base from 947 in 2011 to 1,029 in 2015 and has therefore become the most popular charity bank. Among the new clients belonging to Barclays are the Guide Dogs for the Blind Association, Alexandra Palace and Park and Diabetes UK. Meanwhile NatWest lost some clients allowing Barclays to take the top spot. Among them were Ashgate Hospice, Northampton Theatres Trust and the Springboard Sunderland Trust which now bank with Barclays. Figure 1: Top 10 banks used by the top 5,000 charities Market share (%) Top banks used by top 5,000 charities: Market share (%) 20.58 Figure 1 20.52 0 5 10 15 20 25 13.38 12.04 Barclays 20.58 10.76 6.2 NatWest 20.52 5.54 5.04Lloyds Bank Corporate Markets 13.38 3.54 2.04 HSBC Bank PLC 12.04 Royal Bank of Scotland Group plc, The 10.76 CAF Bank Ltd 6.2 Bank of Scotland Corporate 5.54 The Co-operative Bank plc 5.04 Coutts & Co 3.54 Unity Trust Bank PLC 2.0 www.charityfinancials.com 4 Charity Banking Spotlight report March 2016 with foreword_Layout 1 18/03/2016 11:39 Page 6 Charity Banking Spotlight Figure 2: Top 25 banks used by the top 5,000 charities Previous Rank rank Bank 2015 2014 2013 2012 2011 12Barclays1,029 1,012 977 953 947 21NatWest 1,026 1,032 1,028 1,040 1,033 33Lloyds Bank Corporate Markets 669 683 680 674 675 44HSBC Bank PLC 602 602 590 586 568 55Royal Bank of Scotland Group plc, The 538 517 503 499 503 67CAF Bank Ltd 310 286 274 267 258 78Bank of Scotland Corporate 277 263 234 248 238 86The Co-operative Bank plc 252 273 279 258 246 99Coutts & Co 177 177 171 168 162 10 10 Unity Trust Bank PLC 102 102 96 84 79 11 11 Clydesdale Bank PLC 99 86 75 67 59 12 12 Santander UK PLC 83 80 71 63 43 13 13 C Hoare & Co 63 59 55 48 42 14 14 Allied Irish Bank (GB) 5253515264 15 16 Scottish Widows Bank PLC 50 50 43 29 11 16 15 CCLA 48 50 51 31 11 17 18 Triodos Bank 4739333029 18 17 Yorkshire Bank PLC 45 46 46 40 41 19 19 Child & Co 23 24 24 25 25 20 20 Bank of Ireland 17 20 20 21 26 21 21 Cater Allen Private Bank 1515273533 22 - TSB 147311 23 25 Close Brothers Limited 13 11 9 5 3 24 23 Citibank 1211952 25 22 Standard Chartered Bank (CI) Limited 11 13 12 11 10 Barclays success can be seen in figure 2 by examining the number of clients they had in 2011 and comparing to the number they currently have. With an increase of 82 clients they have made strides in their client base. Despite Barclays’ long term success, the biggest annual net increase in clients was at CAF Bank, up by 24 following the addition of charities like Manchester and District Home for Lost Dogs and York Conservation Trust. There was also a strong performance from RBS, up 21 with the addition of the General Medical Council and the Education and Training Foundation. Figure 3: Banks with biggest net client increases Total clients Number Net rank Bank of clients Change 6 CAF Bank Ltd 310 24 5 Royal Bank of Scotland Group plc, The 538 21 1 Barclays1,029 17 7 Bank of Scotland Corporate 277 14 11 Clydesdale Bank PLC 99 13 The Co-operative Bank has lost the most clients since last year, down by 21, probably as a result of its well-publicised financial problems. Its losses include the UK Biobank, the Retired Greyhound Trust and the Lifeline Project. www.charityfinancials.com 5 Charity Banking Spotlight report March 2016 with foreword_Layout 1 18/03/2016 11:39 Page 7 Charity Banking Spotlight Figure 4: Banks with biggest net client decreases Total clients Number of Rank Bank clients Net change 8 The Co-operative Bank plc 252 -21 3 Lloyds Bank Corporate Markets 669 -14 2 NatWest 1,026 -6 20 Bank of Ireland 17 -3 26 Investec Bank (UK) Limited 10 -3 In total, 86 banks are used by the top 5,000 charities down one from the 87 reported last year, and the top 10 banks provide services for 4,307 of them. Banks by client cash HSBC increases cash levels by £331.7m Figure 5 shows which banks hold the most cash on behalf of the top 5,000 charities.
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