UK’s Tesco Bank has opened its seven millionth customer account and is gearing up to launch a new current account product during the first half of 2014.
Tesco Bank, which is a unit of UK supermarket chain Tesco, is planning to further strengthen its footprint in the country’s retail banking sector.
Go deeper with GlobalData
After taking full ownership in 2008, Tesco Bank has added an additional 1.2 million customer accounts, launched a range of new products including mortgages, ISAs and Box Insurance.
Tesco Bank said that its deposits rose by 58% and customer lending was boosted by 64% since 2008.
The new current account is expected to be designed considering the varying needs of Tesco customers and will feature simplicity, transparency, convenience and reward for loyalty.
Tesco Bank chief executive, Benny Higgins, said, "Since 2008, we have invested to build a bank for Tesco customers.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData"Our goal is to win the trust of our customers by offering straightforward, convenient, transparent products which reward loyalty. We are delighted to be serving more customers in more ways than ever."
