The Association of Foreign Banks (AFB) is a trade body which represents the interests of the foreign banking sector in the UK to industry stakeholders including the Government, regulatory bodies, and financial services organisations. Founded in 1947, the AFB today has around 200 international banking group members, representing about 80% of the UK’s foreign banking market, providing financial services through branches, subsidiaries, and representative offices in the UK.
The AFB’s membership includes some of the world’s largest banks; their UK firms, and affiliated organisations range from the largest with several thousand staff to the smallest with ten or less staff. Foreign banks engage in a wide range of banking and investment business activity in the UK, primarily in the wholesale banking markets. They make a significant contribution to London’s standing as a major international financial centre and to the depth and breadth of the European Financial Markets, facilitating global trade.
As a trade body, the AFB ensures that the views of foreign banks in the UK are represented to policy makers, and that they have the opportunity to engage in and help shape the AFB’s activities with the industry’s key stakeholders.
In addition to representing the sector, the AFB also provides a platform for foreign banks to discuss key industry topics and share information which may be of mutual benefit to the sector. This helps to ensure that the foreign banks continue to thrive in the UK and that London’s standing as a major global financial centre continues.