About Sainsbury’s Bank
On 19 February 1997, J Sainsbury began trading as a bank, making them the first major UK supermarket to do so. The Bank of England officially approved Sainsbury’s banking status when they granted them a full banking licence in January 1997. Sainsbury’s Bank main operations are based at their Lochside Park offices in Edinburgh with the bank also operating from various locations across Britain.
J Sainsbury plc acquired sole ownership of banking operations when they bought out Lloyd’s Banking Group’ 50% stake and took full control at the end of January 2014. So today Sainsbury’s Bank is wholly owned by the supermarket chain and with over 1.6 million active customers continues to grow rapidly. With access to approximately 24 million Sainsbury’s tractions each week, the bank advertise the products available online and via the phone in their stores to compel shoppers to purchase their range of financial products. In return, customers are rewarded with shopper benefits as well as preferential financial offers.