Tesco Bank and Virgin Money also have their headquarters based in the capital.

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That was then being run by Benny Higgins, now head of Tesco Bank.

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Tesco Bank has also announced plans to launch an account soon.

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Overall, Asda Money is still dwarfed by the operation of Tesco Bank, which is fully owned by the supermarket, has 6.5 million customers, and - unlike Asda - has its own banking licence.

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Tesco to Metro Bank to PayPal and all-electronic banking organizations like First Direct.

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In Britain, for example, Goodwin's niche brands besides NatWest and RBS range from Coutts (bankers to the Queen of England) to Tesco Personal Finance (a bank that's a joint venture with the supermarket chain) to DirectLine (insurance sales over the telephone).

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In the past five years, Tesco has also moved into financial services, through an arrangement with Royal Bank of Scotland, and has one of Europe's most successful online retailing businesses.

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Under the Basel system, regulators ordained - for example - that banks could lend more relative to their capital if they were providing mortgages to house buyers than they could if they were lending to a giant multinational company: regulators deemed it was less risky for a bank to provide you with a mortgage than to lend to Tesco.

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He was named along with Kenyon, former FA chairman Geoff Thompson, Professional Footballers' Association chief executive Gordon Taylor, Tesco chief executive Sir Terry Leahy and Lord Stern of Brentford, formerly chief economist of the World Bank.

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