LONDON (dpa-AFX) - Sainsbury (J) Plc (JSAIY.PK, SBRY.L) said on Thursday
that it has signed a deal for the sale of Sainsbury's Bank Plc's personal loan,
credit card, and retail deposit portfolios, together the 'Core Banking Business'
to NatWest Group Plc (NWG NWG.L).

The sale does not include Argos Financial Services, insurance, ATMs, and travel
money of the seller.

The financial terms of the transaction, expected to be completed in the first
half of calendar year 2025, are not known.

Simon Roberts, Sainsbury's CEO said: 'Today's news means we will focus all our
time and resources going forward on growing our core retail business, delivering
great quality and value, week in week out.'

Post transaction, Sainsbury's Bank is expected to return excess capital of at
least 250 million pounds to Sainsbury's.



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