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U.K. based supermarket chain Tesco is about to kick off a strategic review of its banking arm, Sky News reports, in a deal that could fetch £1b. The grocery giant has reportedly lined up Goldman Sachs to advise on the future of Tesco Bank, which has more than 5m customers, offering products including pet insurance, savings accounts and credit cards.
"The bank's balance sheet remains strong, and we continue to have sufficient capital and liquidity to absorb changes in both regulatory and funding requirements," it said in its most recent results announcement.
https://news.sky.com/story/supermarket-giant-tesco-to-explore-sale-of-banking-arm-12813796
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