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August 03, 2015 12:18 PM ET

Banks

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 and mortgages; and credit cards, ATM services, and travel money services, as well as online, mobile, and telephone banking services. The Insurance segment provides motor, home, pet, travel, health and dental, and young drivers' box insurance products; and life insurance products. The company was incorporated in 1997 and is headquartered in Edinburgh, the United Kingdom. Tesco Personal ...

Interpoint Building

22 Haymarket Yards

Edinburgh,  EH12 5BH

United Kingdom

Founded in 1997

3,871 Employees

Phone:

44 1314 791 000

Key Executives for Tesco Personal Finance plc

Chief Executive Officer and Director
Age: 55
Chief Financial Officer and Director
Chief Commercial Officer, Deputy Chief Executive, Director and Member of Executive Committee
Age: 56
Managing Director of Banking and Member of Executive Committee
Company Secretary
Compensation as of Fiscal Year 2015.

Tesco Personal Finance plc Key Developments

Tesco Bank Launches its First 95% LTV Mortgages

Tesco Bank is launching its first range of 95% LTV mortgage products. The new range of 2, 3 and 5 year fixed rate products offer some of the most competitive rates currently available, have no product fee and reward the loyalty of customers with Clubcard points as they repay their mortgage. The highlights of the new products include: Mortgages of up 95% LTV, with no product fee (£195 non-refundable booking fee applies). A competitive range of products, starting from 4.49%, fixed until August 31, 2017 Flexibility to make regular or lump sum overpayments of up to 20% of the outstanding balance each year during the initial rate period, without having to pay an Early Repayment Charge Customers can collect one point for every £4 on their monthly repayments. Available for first-time buyers and those looking to remortgage. All products will move onto the Tesco Bank Standard Variable Rate (currently 4.24%) at the end of the initial fixed rate period. Early Repayment Charges may apply during the initial fixed or tracker rate period.

Tesco Bank Reports Unaudited Earnings Results for the Year Ended February 28, 2015

Tesco Bank reported unaudited earnings results for the year ended February 28, 2015. For the year, the company’s revenue was £1,024 million compared to £1,003 million a year ago. Trading profit was £194 million compared to £194 million a year ago.

Tesco Personal Finance plc Announces Unaudited Consolidated Financial Results for the Year Ended February 28, 2015

Tesco Personal Finance plc announced unaudited consolidated financial results for the year ended February 28, 2015. For the period, the company reported net interest income of £378.6 million against £350.0 million a year ago. Total income was £723.4 million against £687.6 million a year ago. Profit before tax was £168.2 million against £152.6 million a year ago. Operating profit was £162.9 million against £150.2 million a year ago. Profit for the year attributable to owners of the parent was £129.2 million against £118.3 million a year ago. Cash flows used in operating activities was £436.3 million against £318.0 million a year ago. Purchase of non current assets was £74.1 million against £107.6 million a year ago. Adjusting for non-trading items, underlying profit before tax is 5.7% higher at £221.9 million compared to £210 million. Total underlying income was £769.0 million compared to £745.0 million a year ago.

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