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 35th largest bank in the United Kingdom in terms of total assets. In 2017 its total assets were 12 558,30 mln GBP, providing the bank with the market share of 0.14%. In 2017 the bank's annual profit was 137,40 mln GBP.
Tesco Personal Finance PLC participates in deposit guarantee scheme of the United Kingdom. This scheme covers accounts up to 85,000 GBP per bank per depositor.
Tesco Personal Finance PLC is headquartered in Edinburgh.