The Tesco would strengthen its banking business branch

The Tesco would strengthen its banking business branch significantly. The store chain partially offset the recent weak performance with this step – portfolio.hu. wrote after Reuters.

Although the company’s income from banking activities does not reach two percent of Tesco’s total turnover, but compared with low-margin retail activities the company can gain a much larger profit on banking services.

The Tesco Bank has primarily gained meaningful market share in the UK on the credit card market. One in eight credit cards transactions can be linked to Tesco in the UK. (portfolio.hu)