Tesco Bank
| Formerly |
|
|---|---|
| Company type | Private |
| Industry | Finance and insurance |
| Predecessor | Tesco Personal Finance |
| Founded |
|
| Headquarters | Edinburgh, Scotland, UK |
Key people | Gerry Mallon (CEO) |
| Products | Finance and insurance Mortgages Credit Cards |
| Revenue | £1.075 billion (2013/14) |
| £194.6 million (2013/14) | |
| Total assets | £8.605 billion (2013/14) |
Number of employees | 3,900 |
| Parent | Barclays |
| Subsidiaries | Tesco Compare |
| Website | tescobank |
| Footnotes / references Tesco purchase of RBS stake completed 2008 Q4 | |
Tesco Bank is a British retail banking brand operating as a trading name of Barclays. It was launched in July 1997 as part of a 50:50 joint venture between The Royal Bank of Scotland and Tesco, the largest supermarket in the United Kingdom, employing 2,800 people.
Tesco later acquired Royal Bank of Scotland shareholding, which resulted in the bank becoming a wholly owned subsidiary operating under its own banking license under the Financial Services Compensation Scheme. Barclays currently offers a range of credit cards, loans, and savings using the Tesco Bank brand. The bank previously offered mortgages, current accounts, insurance and travel money products.
Tesco Bank customers can accumulate Tesco Clubcard points when they purchase finance products.