Tesco to open bank branches in 30 stores this year

Tesco's move into banking, with its branches expected to be called Tesco Bank, is part of its entrance into the country's financial services sector. "Some banks have grown up using practices that are the opposite of Tesco -- we encourage customer loyalty, but many banks punish loyalty; they get people in with low rates and then make money. Ours is a different philosophy," said Andy Higginson, CEO of Tesco Retailing Services.

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