Tesco Bank sold to Barclays

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I find this quite interesting, as until very recently it was an open secret that Tesco was looking to fully offload the bank.

I suppose the “partnership” is a way to continue offering banking products, and even make some money off that, without the overheads associated with running the bank themselves.

I’m curious to see how Barclays adapt the bank over time, and whether Tesco will keep the agreement going beyond the initial 10 years.

They could certainly do with some tech investment from Barclays, in my view!