Tesco’s Banking Arm Is Said to Attract Interest From Lloyds
- Grocer’s banking arm has around five million customer accounts
- Several mid-market UK lenders are looking to consolidate
A Tesco Bank in London.
Photographer: Betty Laura Zapata/BloombergThis article is for subscribers only.
UK grocer Tesco Plc’s banking business is attracting initial interest from Lloyds Banking Group Plc, people with knowledge of the matter said.
Lloyds is among a number of suitors that have been studying a potential deal involving Tesco Bank, the people said, asking not to be identified because the information is private.