Sainsbury’s Bank was incorporated in 1997, making Sainsbury’s the first major British supermarket to open a bank. Sainsbury’s Bank offers a range retail banking products including travel money, insurances, credit cards, savings and loans; these products are provided through multiple channels, including in-store, by telephone and online.
Sainsbury's Bank plc is the 44th largest bank in the United Kingdom in terms of total assets. In 2019 its total assets were 8 832,00 mln GBP, providing the bank with the market share of 0.10%. In 2019 the bank's annual profit was -35,00 mln GBP.
Sainsbury's Bank plc participates in the deposit guarantee scheme of the United Kingdom. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by private individuals, companies and covers up to up to 85,000 GBP per bank per depositor. Sainsbury's Bank plc is a member of Financial Services Compensation Scheme (FSCS) and makes its contributions into it.
Sainsbury's Bank plc is headquartered in Edinburgh.
Sainsbury's Bank plc is authorized and supervised by the Financial Conduct Authority (reference number 184514).