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Tesco Bank reveals plans to launch mortgage range
Wed, 21 Apr 2010
Tesco Bank has confirmed plans to launch a mortgage range by the end of the year.

As part of plans to build the brand into a fully-fledged retail bank, Tesco has revealed that it aims to launch mortgage and savings products by the end of 2010, with current accounts to follow next year.

The retail giant made the statement in its annual accounts published yesterday (April 20th), which show that subsidiary Tesco Bank reported a pre-tax profit of £114 million.

Added to this, the annual accounts revealed that its retail services division, which includes Tesco Bank, grew its customer accounts by more than 400,000 in the last year.

Meanwhile, Yorkshire Building Society revealed recently that it has witnessed a staggering increase in mortgage applications at the start of the year.

According to the provider, it has seen a 400 per cent rise in applications during the first three months of 2010 compared to the last three months of 2009.

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