Barclays buys Tesco’s consumer bank for £600m
by Anna Wise
Feb 09, 2024
2 minutes
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Barclays has agreed to buy Tesco Bank’s retail banking operations for £600 million, as the UK’s biggest supermarket sharpens its focus on its food business.
The banking giant will scoop up its credits cards, loans, savings and banking operations as part of the deal.
About 2,800 staff at Tesco Bank will also transfer to Barclays over time.
The announcement
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