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Tesco plans 30 bank branches

Tesco is set to open bank branches in 30 of its stores by the end of this year, the supermarket giant has revealed.

The supermarket has already been trialling an in-store bank in Glasgow since 2006 and plans to open three more branches in Brislington, Blackpool and Coventry next month.

Banking facilities on offer will cover Tesco’s existing range of financial services including insurance and credit cards.

Branches will also have terminals providing access to the Tesco Compare website, which compares insurance products.

Tesco bought out Royal Bank of Scotland from their joint venture for £950m in July, signalling its intention to move into the retail banking market.

Benny Higgins, chief executive of Tesco Personal Finance, said last year that it was only a matter of time before the supermarket branched out into mortgages.

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