Sainsbury’s Bank open to offers as retailer plans to exit finance

Company exploring options as it plans to shift focus back to food and retail, rather than services

Sainsbury’s Bank has opened the door to fresh takeover offers, after the supermarket group announced it would exit the banking business nearly 27 years after its launch.

The company is exploring a number of options for its bank – which offers savings accounts, credit cards, travel money and insurance – after a strategic review suggested it could be a distraction from a years-long overhaul, meant to bring the supermarket’s focus back to its core food and retail operations.