LONDON, June 20 (Reuters) – NatWest (NWG.L), opens new tab has struck a deal to acquire most of the banking business of UK retailer Sainsbury’s (SBRY.L), opens new tab, the companies said on Thursday, in a deal that would increase the British lender’s assets by 2.5 billion pounds ($3.2 billion).
The first major transaction executed by NatWest Chief Executive Paul Thwaite since formally taking charge last year will also boost the bank’s customer accounts by about 1 million, in line with its strategy to ramp up retail banking.
Source: REUTER
