Sainsburys Bank

The UK Supermarket group Sainsbury’s has a bank.

http://www.sainsburysbank.co.uk

Started in 1997, as a joint venture with The Bank of Scotland, who is now owned by Lloyds Banking Group, it is now moving to a standalone bank, that is wholly owned and run by Sainsbury’s

[http://www.j-sainsbury.co.uk/media/2475918/sainsburys_bank_ar_2015_-_final_-_jul_15.pdf]

Balance sheet total assets £4,237 million (£4.2 Billion)

What is interesting is that the deposits from savers make up £3,488 million, and has loans of £3,032 million to customers and only is dependent on wholesale funding of £171 million.

Also interesting to see that Sainsburys Bank has Bank of England Reserve account balance of £773m.
What this tells us, is that the bank has deposited cash from its day to day to day operations with The Bank of England. That is 22% of all its customer deposits.

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