NatWest to acquire the banking business of Sainsbury’s.

NatWest, a major retail and commercial bank, agreed to acquire the banking business of Sainsbury’s, an owner of chain of supermarkets. Financial terms were not disclosed. “NatWest’s values and customer focus are a close fit with ours, and as one of the UK’s leading banks, NatWest’s scale and financial services expertise will ensure our existing financial services customers continue to be well looked after,” Simon Roberts, Sainsbury’s CEO.