THE DAILY TELEGRAPH: Marks & Spencer is to open its first bank branch, making current accounts available alongside sandwiches, socks and cashmere sweaters.
The retailer has announced plans to open an in-branch banking service in its Marble Arch flagship store in London, with plans to expand the service to 50 larger outlets across the country in the next two years.
Mortgages will not be offered initially, however the retailer expects to extend the range of services it provides, which will start with current accounts, to include home loans.
M&S added that the branches "will be open twice as long as traditional high street banks; mirroring M&S store opening hours and enabling customers to bank while they shop, seven days a week".
Marc Bolland, chief executive, said: “M&S is one of the most trusted brands on the UK high street and we’ve achieved this by continually listening and responding to the needs of our 21m customers. This bank will be built on M&S values; putting the customer at the heart of the proposition and delivering the exceptional service that sets us apart from the competition.”
The launch of M&S Bank will create 500 UK jobs by the end of 2013. Read on and comment » | Harry Wilson, and Harry Wallop | Friday, June 08, 2012
