NatWest's deal for Sainsbury's unit is the latest banking business disposal by a major British retailer, after rival supermarket chain Tesco offloaded most of its banking activities to Barclays in a £600 million deal earlier this year. Photograph: PA MediaNatWest has struck a deal to acquire most of the banking business of UK retailer Sainsbury’s, the companies said on Thursday, in a deal set to grow the British lender’s assets by £2.
The deal is the latest banking business disposal by a major British retailer, after rival supermarket chain Tesco offloaded most of its banking activities to Barclays in a £600 million deal earlier this year.
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