It said commitments of formal standby facilities, credit lines, mortgage offers made but not drawn down and other commitments to lend, total £7.7bn, its latest financial statement has shown.
It said that it made this commitment in August, the same time it launched into the mortgage market. The £7.7bn commitment has increased from the £7.4bn it made in February.
The bank said the amount is intended to provide an indication of the volume of business transacted and not for the underlying credit or other risks.
Tesco Bank’s mortgage range currently includes two, three and five-year fixed rate products and two-year tracker products. Some features of the range include a payment holiday, a 20% overpayment threshold and Clubcard points paid at a rate of one point for every £4 of monthly repayment.
Overall, Tesco Bank reported a 114% increase in profits for the first half of the year at £94m.
However, overall, the retailer reported a fall in profits for the first time in 18 years. The group blamed the weakness on a slowdown in UK sales and the cost of a £1bn turnaround plan aiming to halt the decline.
Pre-tax profits slumped by 11.6% to £1.7bn in the first half of 2012, which the group attributed to weaker sales in Europe and Asia.
But the company’s chief executive Philip Clarke, said he was “encouraged” by customer reaction to the firm’s turnaround plan, known as ‘Build a Better Tesco’.
The plan has involved hiring 8,000 extra staff, the modernisation of 230 stores and the expansion of the retailers’ meat, bakery and frozen food ranges, in addition to the increased use of Clubcard offers and the expansion of the firm’s online service.
