Tesco Personal Finance was formed in July 1997 following the successful launch of Sainsbury's Bank by its main UK competitor, Sainsbury's. The bank was launched as a joint venture with the Royal Bank of Scotland, which processes all its financial transactions. Subsidiary companies of the Royal Bank, such as Direct Line and Lombard Direct help Tesco Personal Finance provide insurance products. Tesco Personal Finance has been a great success for both Tesco and the Royal Bank of Scotland, returning profits of £202 million for the financ ...

See also:

Tesco Personal Finance, Tesco Personal Finance - Formation, Tesco Personal Finance - External link

Read more here: » Tesco Personal Finance: Encyclopedia II - Tesco Personal Finance - Formation