LONDON — The world’s biggest financial services company, Lincoln Financial Ltd., is one of the top 10 financial services firms in the world, according to an analysis by The Economist.
The research was based on the number of transactions made by its customers, and a number of other factors including its global revenue and profitability.
“Lincoln Financial is the world leader in the area of global financial services, having grown from a small bank to become the worlds biggest bank,” said Andrew Rea, senior analyst at The Economist Intelligence Unit.
“Its size and growth in its industry has allowed it to dominate the industry with a variety of products and services.”
The bank, based in the UK’s capital London, is the second-largest financial services provider in the United Kingdom and the fourth-largest in the European Union.
It has more than 9,000 customers in the U.K. and a market capitalization of nearly £100 billion ($154 billion).
Lincoln Financial is one in a growing number of financial services giants, including the American financial service giant Citigroup Inc., the London-based credit giant UBS AG and the Swiss financial services firm UBS Group AG.
“Financial services are becoming increasingly popular as consumers become more reliant on them to make money, to meet their financial commitments, and to manage their finances in a cost-effective manner,” Rea said.
“It is critical for financial institutions to make it easier to manage customers’ money, so they can grow and innovate.”
The study looked at the number and type of financial transactions by customers.
“The most important factors that influence financial performance are customer service and customer experience,” Reas said.
The study focused on the UK and United States for the first time.
In addition to being the largest financial services market in the EU, Lincoln is also one of Europe’s largest, having established itself in the region in the early 2000s.
It’s also the largest provider of services in the eurozone, with an estimated turnover of nearly $1.2 trillion ($1.5 trillion).
“Lithuanian and British companies have made remarkable progress in financial services since the 1980s,” said David Tredinnick, chief executive of the UK-based financial services trade body, the Financial Services Alliance.
“While some financial services are still in the late stages of growth, they are seeing significant gains and are poised to be the dominant providers of financial and credit products to consumers.”
Financial services are a growing sector for the U to UK economy and an important part of the British economy.
More than 1,600 banks are based in Britain and more than 1.5 million employees work in the sector.
Lincoln Financial operates more than 500 branches in Britain, the U, the Netherlands, Germany, Austria, Belgium, France, Italy, Spain, the United States and Singapore.