NatWest to buy most of Sainsbury’s Bank - Financial Times

Jun 20, 2024 · NatWest is to buy most of Sainsbury’s banking business in the first significant deal by new chief executive Paul Thwaite and one that accelerates the supermarket sector’s exit after a failed push into financial services.

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Sainsbury’s To Pay Natwest £125m To Take Bank Division Off Its Hands

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Jun 20, 2024 · Natwest has agreed to acquire Sainsbury’s core retail banking arm – with the …

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Sainsbury's To Pay Natwest £125m To Take Bank Unit Off Its Hands

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Jun 20, 2024 · Natwest has agreed to acquire Sainsbury’s core retail banking arm – with the …

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NatWest To Takeover Most Of Sainsbury's Bank - Which?

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Aug 8, 2024 · The deal will see NatWest acquire £1.4bn of unsecured personal loans, £1.1bn …

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FAQs about NatWest to buy most of Sainsbury’s Bank - Financial Times Coupon?

Does Sainsbury's pay NatWest £125m?

The deal does not include Sainsbury’s Bank’s cash machine, insurance and travel money business or Argos Financial Services. Sainsbury’s will pay NatWest £125mn as part of the deal. ...

Will NatWest buy Sainsbury's retail banking arm?

Natwest has agreed to acquire Sainsbury's core retail banking arm - with the supermarket giant paying the lender £125m to take it off its hands. ...

What does NatWest Group do with Sainsbury's bank?

Natwest Group plc (“NatWest Group”) today announces that it has entered into an agreement with Sainsbury’s Bank plc (“Sainsbury’s Bank”) to acquire the retail banking assets and liabilities of Sainsbury’s Bank which comprises its outstanding credit card, unsecured personal loan and saving accounts. ...

Why did Sainsbury's announce NatWest?

Simon Roberts, Sainsbury’s CEO, commented: “I am pleased to be announcing this news today. NatWest’s values and customer focus are a close fit with ours and as one of the UK’s leading banks, NatWest’s scale and financial services expertise will ensure our existing financial services customers continue to be well looked after. ...

What do NatWest's values mean for Sainsbury's customers?

Simon Roberts, the CEO of Sainsbury’s, said NatWest’s values mean its current customers “will be well looked after”. He said: “There will be no immediate change for our bank customers as a result of this announcement. ...

How did NatWest & Sainsbury's stock perform in early trading?

NatWest shares were up 0.3% at 0706 GMT while Sainsbury's stock gained 2.3% in early trading. The assets acquired include 1.4 billion pounds in unsecured personal loans, 1.1 billion pounds in credit card balances and about 2.6 billion pounds of customer deposits. ...