March 27, 2017 6:03 PM ET

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Company Overview of Tesco Personal Finance plc

Company Overview

Tesco Personal Finance plc, together with its subsidiaries, provides financial products and services to personal customers in the United Kingdom and the Republic of Ireland. It operates through two segments, Banking and Insurance. The Banking segment offers personal savings and current accounts, personal loans, mortgages, and credit cards, as well as ATM, travel money, and online banking services. The Insurance segment provides life, motor, home, pet, travel, health and dental, young drivers' box, and other products. The company was incorporated in 1997 and is headquartered in Edinburgh, the United Kingdom. Tesco Personal Finance plc is a subsidiary of Tesco Personal Finance Group Limited.

Interpoint Building

22 Haymarket Yards

Edinburgh,  EH12 5BH

United Kingdom

Founded in 1997

3,631 Employees

Key Executives for Tesco Personal Finance plc

Chief Executive Officer and Director
Age: 56
Chief Financial Officer and Director
Deputy Chief Executive, Director and Chief Commercial Officer
Age: 57
Managing Director of Banking and Director
Managing Director of Insurance and Director
Compensation as of Fiscal Year 2016.

Tesco Personal Finance plc Key Developments

Tesco Personal Finance plc Announces Unaudited Consolidated Earnings Results for the Six Months Ended August 31, 2016

Tesco Personal Finance plc announced unaudited consolidated earnings results for the six months ended August 31, 2016. For the six months, the company reported net interest income of GBP 209.5 million compared to GBP 198.2 million a year ago. Total income was GBP 396.9 million compared to GBP 386.0 million a year ago. Operating profit was GBP 40.9 million compared to GBP 98.3 million a year ago. Profit before tax was GBP 46.0 million compared to GBP 100.1 million a year ago. Profit for the period attributable to owners of the parent was GBP 72.6 million compared to GBP 80.2 million a year ago. Cash flows generated from operating activities were GBP 174.5 million compared to cash flows used in operating activities of GBP 444.1 million a year ago. Purchase of Intangible assets and Property, plant and equipment was GBP 16.1 million compared to GBP 15.0 million a year ago.

Tesco Bank Announces Executive Changes

Tesco Bank has announced the appointment of Declan Hourican to the position of Chief Financial Officer. Declan will take up the role on October 3, 2016, when he will become a member of the Tesco Bank Executive Committee and Board. Peter Bole will continue in the CFO role until Declan joins in October.

Tesco Bank Launches New Mortgage Broker Service

Tesco Bank has launched its new intermediary service, Tesco Mortgage Intermediaries, through which customers are able to access Tesco's range of mortgages via London and Country mortgage brokers. In the future months Tesco mortgages are scheduled to be made available via a number of firms through Legal & General's remaining Nouveau and Key Partners panel. Intended to provide brokers with an easy and convenient service, the new intermediary service includes a number of features including searchable lending criteria, webchat, and the ability to scan and upload documents and track the status of applications from any device.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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