Marks & Spencer is to launch its own chain of banks, with the extended product range set to include mortgages.
Retail Week reports the chain will open its first banking outlet in the Marks & Spencer branch at London’s Marble Arch this summer. The retail giant also has plans for at least 20 further branches to open.
Marks & Spencer already offers a number of financial services through its M&S Money arm, which is wholly owned by HSBC.
Each banking branch will be located in an existing M&S store, with opening hours set to include evenings, Saturdays and Sundays.
Neither Marks & Spencer or HSBC were available to comment.
