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Marks & Spencer to open bank branches and offer mortgages

Marks & Spencer is reportedly gearing up to launch a chain of bank branches which will include a mortgage offering.

Retail Week reports the first M&S branch will open next month within the M&S flagship retail store in Marble Arch in London, with a further 20 branches planned. All bank branches will be housed in existing stores and will be open on weekends.

M&S already operates a financial services arm under the trading name M&S Money, which is owned by HSBC.

M&S Money offers investments through HSBC’s world selection portfolios. It also offers savings accounts, general insurance, loans, travel money and credit cards.

News of M&S’s potential entry into the mortgage market comes ahead of the launch of a mortgage range from Tesco Bank which is expected in the coming months. The mortgage range has been delayed following technical glitches in moving its existing loan and savings products onto a new IT system.

M&S declined to comment.


M&S to offer mortgages through bank venture

Marks & Spencer has revealed that it will offer mortgages through its new banking venture, M&S Bank, but says it has no planned launch date. Over the next two years, 50 M&S Bank branches will open in its stores across the UK, with the first scheduled for July at its flagship Marble Arch branch. M&S […]

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Neptune video: Abenomics: the impetus for Japan’s fast-track recovery?

The remarkable performance of the TOPIX over the past year has caused many sceptical equity investors to look again at the Japanese market. These returns have come despite very significant problems facing the Japanese economy. Chris Taylor, manager of the Neptune Japan Opportunities Fund, discusses these problems and whether Abenomics will be able to overcome them, enabling the market to continue to rise.

In the video, Taylor addresses the following:

• The size and speed of Japan’s unprecedented monetary policy
• Abenomics and the implications should it fail
• Corporate Japan and beneficiaries of government policy


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