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Sainsbury's Bank plc is a British bank wholly owned by Sainsbury's. The bank began trading on 19 February 1997 as a joint venture between Sainsbury's and Bank of Scotland. Sainsbury's took full ownership of the bank in January 2014. [2] The bank's head office is located in Edinburgh, Scotland, [3] and its registered office in London, England.
In 1997, Sainsbury's Bank was established – a joint venture between J Sainsbury plc and the Bank of Scotland, [151] later a part of the Lloyds Banking Group. Services offered include car, life, home, pet and travel insurance as well as health cover, loans, credit cards, savings accounts and individual savings accounts .
There are a number of other retail banking businesses owned by retailers including: Post Office Money, the trading name used by Post Office Ltd for its branded financial products, most of which are provided by Bank of Ireland UK. Sainsbury's Bank, owned by British supermarket company Sainsbury's.
Brown was president of the Institute of Banking in Ireland. [1] From 2015 to 2017, Brown was chief executive of Williams & Glyn, a division of the Royal Bank of Scotland. [2] He replaced John Maltby in the role, who stood down. [7] On 11 June 2019, Sainsbury's announced Brown had been appointed chief executive of Sainsbury's Bank. [2]
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Since Sainsbury's acquired Argos, more and more standalone stores have been moved into a nearby Sainsbury's store. On 25 September 2019, Sainsbury's announced that over 50 Argos stores would be closing or relocating in order to cut costs. Stores also began to feature digital computers as well as printed catalogues to save costs.