Tesco Bank

Tesco Personal Finance plc

Formerly	Tesco Personal Finance Limited (1997–2008)[1]
Company type	Private
Industry	Finance and insurance
Predecessor	Tesco Personal Finance
Founded	July 1997; 27 years ago (July 1997)
Headquarters	Edinburgh, Scotland
Key people	Gerry Mallon, CEO
Products	Finance and insurance Mortgages Credit Cards
Revenue	£1.075 billion (2013/14)[2]
Operating income	£194.6 million (2013/14)[2]
Total assets	£8.605 billion (2013/14)[2]
Number of employees	3,900 [3]
Parent	Tesco
Subsidiaries	Tesco Compare
Website	tescobank.com
Footnotes / references Tesco purchase of RBS stake completed 2008 Q4

Tesco Personal Finance plc, trading as Tesco Bank, is a British retail bank which was formed in July 1997 (as Tesco Personal Finance). The bank was formed as part of a 50:50 joint venture between The Royal Bank of Scotland and Tesco, the largest supermarket in the United Kingdom, employing 2,800 people.

Tesco later acquired Royal Bank of Scotland shareholding, which resulted in the bank becoming a wholly owned subsidiary, and now operates under its own banking license under the Financial Services Compensation Scheme.^[4] The bank offers a range of insurance, credit cards, loans, savings, mortgages and travel products. Tesco Bank also launched a current account in June 2014, but has since stopped accepting new current account applications, and all existing current accounts were closed in November 2021.

Tesco Bank customers can accumulate Tesco Clubcard points when they purchase finance products.