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NatWest acquires Sainsbury’s banking division

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June 20, 2024
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British retail giant Sainsbury’s has announced that it will be selling the majority of its banking business to NatWest, a high street lender. This acquisition will bring approximately one million new accounts to NatWest, as well as £2.5bn in gross customer assets. This includes £1.4bn in unsecured personal loans and £1.1bn in credit card balances, as well as £2.6bn in customer deposits.

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