Sell that arm of the business off to Revolut perhaps? Or another EU/US fintech looking to buy their way into the U.K. market?
Depends what they plan to do with their other financial products, I guess.
I think they will keep the bank, at least for a while, for the credit card.
That must be easier to make a profit out of, and is a “sticky” product which encourages shopping at M&S.
Savings may continue in some capacity to help fund the credit card lending, like at Sainsbury’s Bank; or they may quietly stop offering savings accounts and concentrate solely on the credit card, like at John Lewis Finance.
I doubt that they would get acquired or look to sell, but you never know - who saw Harrods Bank turning in to Tandem coming!
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