Tesco Plc reports 100% growth in operating profit to £2.821 billion in FY 23/24

LONDON: Tesco Plc has announced its financial results for the fiscal year 23/24, showcasing significant gains across various financial metrics. The retail giant reported group sales of £61.477 billion, marking a 7.4% increase at actual rates compared to the previous year’s £57.216 billion. This growth remained consistent at constant rates with a 7.2% rise, reflecting…

Barclays Bank UK to acquire retail banking business of Tesco Bank for £600 million

LONDON, UK: Barclays PLC announced that Barclays Bank UK has entered into an agreement with Tesco Personal Finance plc (Tesco Bank) to acquire the retail banking business of Tesco Bank, which includes credit cards, unsecured personal loans, deposits and the operating infrastructure.  Additionally, Barclays UK will enter into a long-term, exclusive strategic partnership with Tesco…