Sainsbury's Bank, now trading as Sainsbury's Finance, is a 50:50 joint venture between J Sainsbury (a leading UK food retailer) and Bank of Scotland (a subsidiary of Lloyds Banking Group). Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. It operates under its own banking license issued by the FSA, separate from Bank of Scotland and Lloyds Banking Group.
Sainsbury’s Bank provides a range of financial products including insurance, credit cards, savings and loans. Customers can apply for products online or over the phone. Sainsbury's Bank products are linked to the Nectar reward scheme.
Sainsbury's Bank has over 1.5 million active customers with deposits in excess of £6 billion.