JP Morgan, Bank of America Merrill Lynch, Deutsche Bank, Nomura Holdings and Morgan Stanley paid no corporation tax at all, the news agency said.
The banks offset past losses against their taxable income for 2013-14.
The banks have so far declined to comment, but their tax returns say they complied with UK tax rules.
The
research into the financial reports found that seven banks, which also
included Goldman Sachs and UBS, used tax benefits as well as losses
generated during the banking crisis to reduce their corporation tax
bills.
