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Tuesday 12th of January 2010

News Tag: High Street banks

January 8, 2010

Virgin Money buys regional bank Church House Trust

by Kay Murchie
Sir Richard Branson’s Virgin Money has announced it is to buy regional bank Church House Trust for £12.3 million and will invest £37.3 million into the business. Virgin Money, which was unsuccessful in acquiring crisis-torn Northern Rock two years ago, already offers savings, credit card and investment products to around 2.5 million customers. The purchase comes at a time ...

August 20, 2009

Tesco to open finance centre in Glasgow

by Kay Murchie
Supermarket giant Tesco has announced it is opening a finance centre in Glasgow with the creation of 800 jobs. The move is part of Tesco Personal Finance’s expansion programme, which will see it compete with High Street banks. Tesco, which has a 30% share of the grocery market, already offers credit cards, savings accounts and insurance via its Tesco Personal Finance (TPF) ...

January 20, 2009

Banks to stop selling single premium PPI

by Kay Murchie
Several High Street banks are to cease selling single premium payment protection insurance (PPI) with their unsecured personal loans. Alliance & Leicester, Barclays, Co-Operative Bank, Lloyds Banking Group and RBS/Natwest will be opting out of the controversial market for single premium PPI by the end of this month. The Financial Services Authority (FSA) has welcomed the move, adding that some firms, along ...