The banking arm of supermarket giant Sainsbury's will launch two new credit cards this week in an attempt to win market share from rivals.
The Edinburgh-based bank, a joint venture between Sainsbury's and Lloyds Banking Group, will launch a credit card based around its Nectar points award scheme, while the other is a new cashback card. The bank grew pre-tax operating profits by 40% in the financial year 2011/12, which it puts down to linking its products with the Nectar scheme.
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