Tesco's banking business booms

April 2009
SCTWeek;4/27/2009, Vol. 14 Issue 17, p4
The article focuses on Tesco Personal Finance, the banking business of Tesco PLC. Tesco Personal Finance now has about 6 million credit card and savings accounts, up from 5 million in 2008, and also, it has opened an additional 100,000 accounts so far in 2009. Tesco CEO Terry Leahy has called the aftermath of prevailing banking crisis as an ideal time to nurture a financial services business. It is stated that Tesco is doing in Great Britain, what Wal-Mart Stores Inc. wanted to do in the U.S.


Related Articles

  • $aving Grace. Gaines, Amanda // Retail Merchandiser;Jul/Aug2009, Vol. 49 Issue 4, p2 

    The author comments on an article in the "Financial Times" which reported a trend of international retailers moving into the banking industry. The article mentions retail chain Tesco, which is expanding its relationship with Royal Bank of Scotland. It also indicated that Walmart's entry into...

  • A Wal-Mart Rival Hits La-La Land. Shinkle, Kirk // U.S. News & World Report;11/19/2007, Vol. 143 Issue 18, p84 

    The article describes the arrival of Great British retailer, Tesco PLC, in the U.S. grocery market, making it the only true competition for Wal-Mart Stores Inc. The company opened six Fresh & Easy Neighborhood Markets in 2007, and plans a total of 30 stores by the end of 2007 as far east as...

  • Measuring the Carbon Footprint. Smith, Jeremy N. // World Trade;Jan2009, Vol. 22 Issue 1, p50 

    The article focuses on the emerging practice of measuring the carbon footprint by multinational companies. On January 18, 2007, Sir Terry Leahy, chief executive officer (CEO) of Tesco, addressed a concerned audience in central London, England. His immediate concern was not corporate revenue or...

  • Tesco tries to allay fears over Asda.  // Marketing Week;7/1/1999, Vol. 22 Issue 22, p8 

    Reports that Tesco PLC chief executive Terry Leahy told company managers not to panic in the wake of Wal-Mart Corp.'s acquisition of ASDA Group.

  • A Look at Finance Efforts By Europe's 'Wal-Mart' Cohn, Laura // American Banker;12/4/2006, Vol. 171 Issue 231, p1 

    This article reports that U.S. bankers seeking insight into Wal-Mart Stores Inc. as a financial services provider would do well to examine Tesco PLC's experience in Great Britain. Tesco, in Cheshunt, England, has gained success as a financial service provider but has not been competitive in...

  • Industry Comment: Tesco: becoming the Tesco of financial services.  // MarketWatch: Financial Services;Apr2009, Vol. 8 Issue 4, p5 

    In this article the author discusses the progress of Tesco as its financial services becomes independent. It notes that its competitive edge over some of its potential rivals could be attributed to its vast customer base, broad store network and solid brand reputation. It points out that its...

  • Questions Remain for Tesco. Pinto, David // MMR;11/29/2010, Vol. 27 Issue 18, p8 

    The article reports on the impact of the retirement of U.S.-based Tesco PLC chief executive officer (CEO), Terry Leahy, on the future of the retailer.

  • Leahy's Legacy at Tesco Thrust Into the Spotlight. Woldt, Jeffrey // MMR;7/22/2013, Vol. 30 Issue 12, p16 

    The author reflects on the decline in the legacy of retail company Tesco PLC, left by Terry Leahy, former chairman of the company.

  • Companies sign up to sustainability measure.  // Horticulture Week;2/21/2014, p29 

    The article focuses on statements from horticultural solutions provider Grodan's sustainability manager Stuart Lambie regarding the sustainable product approach of various companies such as retailer Walmart and grocery chain Tesco.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics