Sainsbury’s to sell banking portfolios to NatWest

The sale will not include Sainsbury's Bank's commission income businesses, which includes insurance, ATMs and travel money

Sainsbury’s has agreed to sell its banking arm’s personal loan, credit card and retail deposit portfolios to NatWest, in a deal that is set to complete next year. Under the deal, Sainsbury’s Bank will pay NatWest £125m to take on the portfolios.

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