Tesco Personal Finance was established in 1997, as a joint venture between Tesco Group and Royal Bank of Scotland. In 2008, Tesco bought out the RBS’s share and introduced the new name, Tesco Bank. Tesco Bank provides financial products and services (insurance, savings and current accounts, credit cards, personal loans and mortgages) to the customers who shop at Tesco stores.
Tesco Personal Finance PLC is the 34th largest bank in the United Kingdom in terms of total assets. In 2018 its total assets were 14 312,40 mln GBP, providing the bank with the market share of 0.16%. In 2018 the bank's annual profit was 141,10 mln GBP.
Tesco Personal Finance 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. Tesco Personal Finance PLC is a member of Financial Services Compensation Scheme (FSCS) and makes its contributions into it.
Tesco Personal Finance PLC is headquartered in Edinburgh.
Tesco Personal Finance PLC is authorized and supervised by the Financial Conduct Authority (reference number 186022).