The UK's biggest retailer is to kick off a review of its presence in the financial services sector that could trigger a formal sale process, Sky News learns.
Based in Edinburgh, Tesco Bank employs 3,800 people and generated adjusted operating profits of £67m in its last half-year results.
Tesco Bank retreated from the UK mortgage market in 2019, announcing the sale of its existing mortgage book to Lloyds Banking Group for a cash consideration of £3.8bn. Her appointment follows the departure of Sir John Kingman, the former Treasury mandarin who had chaired the bank since 2019.Tesco's potential exit from the banking business comes 15 years after it paid £950m to acquire the then crisis-hit Royal Bank of Scotland's 50% stake in their Tesco Personal Finance joint venture.
The list of potential buyers of Tesco Bank would be expected to include other mid-sized UK lenders as well as financial investors.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Shoppers rush supermarket giant to buy Fairy dishwasher tablets that are 78% offSHOPPERS are rushing to a supermarket giant to get hold of bargain Fairy dishwasher tablets. Sainsbury’s has slashed the price of Fairy Platinum Plus dishwasher tablets and shoppers are thril…
Lire la suite »
Tesco announces major update as new delivery service expanded to 800 storesTesco's new service is promising to bring groceries to your door in as little as 30 minutes
Lire la suite »
Paperchase flogging stationery for 35p as website closes head of Tesco takeoverPaperchase flogging stationery for 35p as website closes head of Tesco takeover affiliate
Lire la suite »
Tesco makes big change to 800 stores - and it's good news for shoppersTESCO is making a huge change at hundreds of its stores and shoppers will be delighted. The supermarket giant is expanding its Whoosh rapid delivery service to ferry groceries to customers’ d…
Lire la suite »
Tesco shoppers say 36p chocolate tastes SO good it's better than Cadbury'Very, very good. Doubt you could tell the difference between the own-brand and Cadbury.'
Lire la suite »