Retailing legend Feargal Quinn also tried to enter the Irish banking sector at the end of the 1990s when setting up Tusa, a joint venture between his [broken link removed] supermarket chain and Permanent TSB.
However, after two years, the innovative banking group had attracted just 10,000 customers and had written less than 500 mortgages. As losses spiralled, the Tusa business was shuttered in 2001.
On that basis, I can't see Tesco opening any kind of bank system.
Could you have a debit card without a current account?
However, the company, which owns the Superquinn, Supervalu and Centra retail brands in Ireland, said it was considering the possibility of offering insurance products to its customers, but said it was only in the early stages of such plans. Commercial and personal loans are not part of its potential financial offering.
An Post are already partnered with AIB as part of AIB's branch closure rationalisation.... An Post seems an obvious possible partner for me.
Musgraves have denied it
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