And finally…Edinburgh revealed as UK’s second most cash rich city



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Edinburgh is the second cash richest city in the UK, with £16.9 billion in business bank accounts across the Scottish capital, according to new research.

The study, carried out by private company information platform, DueDil, reveals that the only city with more available funds is London, with an eyewatering £274.5bn in accumulated cash.

Joining Edinburgh and London in the top five richest cities are York, Manchester and Birmingham.

Top ten cash rich cities:

  1. London £274.5bn
  2. Edinburgh £16.9bn
  3. York £13bn
  4. Manchester £9.6bn
  5. Birmingham £5.7bn
  6. Coventry £4.8bn
  7. Bristol £3.9bn
  8. Leeds £3.3bn
  9. Glasgow £2.2bn
  10. Newcastle £2.2bn

In total, there is a staggering total of £366 billion sitting in business accounts across the UK.

Overall, the sum of cash conserved by UK businesses has increased by £61.9bn from the previous year, signifying a 17 per cent rise.

This may be down to companies choosing to keep more money in their reserves as a precautionary measure to safeguard their organisation from financial turmoil as Brexit uncertainty persists.

Sum of Cash by Scottish Cities

  1. Edinburgh £16.9bn
  2. Glasgow £2.2bn
  3. Aberdeen £1.4bn
  4. Dundee £961m
  5. Perth £184.4m
  6. Stirling £126.3m
  7. Inverness £125.3m

Out of Scottish cities, there was a large disparity between the amount of cash in the three largest cities.

Edinburgh has almost eight times as much cash as Aberdeen and twelve times as much as Aberdeen in available funds.

The top industries in Edinburgh include finance and tech.

Nuclear Liabilities Fun Ltd was found to be the most cash rich company in Edinburgh with £7.5bn in available funds, followed by TSB Bank PLC with £3.7bn and Standard Life Assurance Ltd which has £1.5bn.

Out of all UK regions, Scotland produces £22bn in cash, making it the second richest region in the UK.

In contrast, Northern Ireland and Wales both produce just £1.6bn each.

Sum of Cash by UK Region:

 

  1. London 274.5bn
  2. Scotland 22.0bn
  3. Yorkshire & the Humber 19.4bn
  4. West Midlands 13.3bn
  5. North West England 13.3bn
  6. South West England 5.8bn
  7. East of England 5.3bn
  8. South East England 3.9bn
  9. East Midlands 3.6bn
  10. North East England 2.4bn
  11. Northern Ireland 1.6bn
  12. Wales 1.6bn