Key figures for Tesco Bank 2019-2020

Founded in 1997, Tesco Bank is a retail bank headquartered in the United Kingdom (UK). In the year end February 29th, 2020 Tesco Bank has seen a decrease in a number of financial indicators due to the selling of it's mortgage business in September 2019 to the Bank of Scotland plc. Despite the sell off of the mortgage section of its business, Tesco Bank has seen an increase in income, equity and capital in the year ending February 2020 compared to the previous year. During the year ending February 2020, all ratios displayed increased from the previous year.

Challenger banks

The term 'Challenger Bank' is used as a description of banks and financial services that were created after the Global Financial Crisis and have made significant impact in 'challenging' incumbent large banks or have had a significant impact on the market. KPMG describe four main areas in which challenger banks have appeared in the market in the United Kingdom. These include full-service retail banks such as CYBG/Virgin Money, Metro Bank, TSB Bank and the Co-op, Specialist lenders such as OneSavings Bank and Aldermore, retailer banks including Tesco's and Sainsbury's and Digital Banks. As the newest and perhaps the most exciting facet of challenger banks, Digital banks are mobile app-based banks that do not have a physical presence on the high street. Due to their simplicity and ease of use they have attracted significant attention from customers and investors alike.

Key figures and ratios for Tesco Personal Finance Group plc in the United Kingdom (UK) in 2019 and 2020

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Source

Release date

April 2020

Region

United Kingdom

Survey time period

February 28, 2020 and February 29, 2020

Supplementary notes

* Transitional

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Statistics on "Banking channels in the United Kingdom (UK)"

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