Banks have taken up more than four times as much office space in the City of London than in Canary Wharf over the past five years, as the financial sector has increasingly gravitated away from the docklands.

In the City of London, banks have taken on close to 1.1 million square feet of new office space since 2020, according to data provided to Financial News by real estate firm Knight Frank. This compares with 233,639 square feet in Canary Wharf over the same period.