Tesco aims for 10 per cent of financial service market

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The grocery giant Tesco is thought to be planning to grab about 10 per cent of the UK financial services market. Tesco already sells a wide array of financial products but it is the first time that the scale of its ambitions has emerged. The supermarket plans to launch mortgages and current accounts in the next year. A 10 per cent share of the financial services market would make it a similar size to Abbey, owned by Spain's Banco Santander.