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Tesco to create 800 jobs in finance division

In a bid to grab a significant share of the UK finance market, Tesco has announced the opening of a banking call centre in Glasgow and the creation of 800 jobs. In a further direct attack on the UK banking sector the company will be rebranding its Tesco Personal Finance division as Tesco Bank and will in due course increase the number of products available in the UK.

This is an interesting move at a time when the UK banking sector is in trouble although Tesco can depend upon millions of customers a day, a significant portion of which will obviously at least take a look at the banking offers. The potential for cross selling and cross promotion is enormous and in the past Tesco has shown itself to be more than adept in this particular area of marketing.

Tesco bank will also look to open current accounts by the end of next year which when added to the existing loan, credit card and insurance services currently available will make the company a force to be reckoned with. The move to introduce 800 new jobs in Scotland has also been received at a time when unemployment in the UK continues to rise.

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