Tesco to push its bank this year

Tesco, the world's third-biggest retailer, will make its long-awaited push into banking this autumn, and will not do so by buying Lloyds branches or bidding for state-owned Northern Rock, its head of retail services Andrew Higginson told a conference yesterday.
He said the firm was focused on growing its own business. “Certainly we will be picking the pace of that up as we get toward the back end of the year,” he said, adding that Tesco is aiming to build a mortgae book worth £10bn.