.
The move comes amid a torrid environment for medium-sized banks, with near-zero rates and intense price competition depressing margins and casting doubt over the long-term viability of many standalone lenders. Mr Roberts may come under pressure to confirm that it is exploring options for the bank when the group reports half-year results next week.
Sainsbury's took full control of the division in 2013, when it paid £260m to buy a 50% shareholding from joint venture partner Lloyds Banking Group. Sainsbury's also owns the Argos Financial Services business following its takeover of the general merchandise retailer in 2016.
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