Sainsbury's Bank Guide, Meaning , Facts, Information and Description
Sainsbury's Bank is a UK based bank operated by J Sainsbury plc and HBOS plc (Halifax Bank of Scotland), with 55% and 45% shares respectively.Sainsbury's was the first major UK supermarket group to establish a banking arm, with operations beginning on February 19 1997. The company has access to over 11 million customers who visit Sainsbury's every week and offers credit cards, savings, insurance, mortgages and loans.
Other UK supermarkets have entered the financial services market, e.g. Tesco Financial Services offering similar products. Both companies link many products to their reward schemes, for example bonus points for purchasing a new product.