TESCO Bank chief executive Benny Higgins said there was a lot of negativity towards traditional banks as the supermarket seeks to take on established high street names with the launch of its long-awaited mortgage product on Monday.
Launched as a joint venture in 1997, Tesco bought out Royal Bank of Scotland's 50% share of what was then called Tesco Personal Finance in 2008 for £1 billion.
It currently offers products such as loans and insurance and is planning to follow up the mortgage launch with a Cash ISA and a current account.
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