// Tesco is planning to review its presence in the UK banking sector which could see the sale of its banking arm, Sky News reports
// The grocer has lined up Goldman Sachs
Tesco is to conduct a review into its banking arm, which could result in its sale.
The big four grocer has lined up Goldman Sachs to advise on the future of Tesco Bank, Sky News reports.
The review is at a very preliminary stage and may not necessarily lead to a formal sale, sources emphasised.
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Another source commented a partial sale or joint venture could also be an option for the retailer.
Tesco Bank, which reported adjusted operating profits of £67m in its last half-year results, could be worth more than £1bn, according to a banking analyst.
The publication said there was no suggestions that the review of Tesco Bank could result in job losses or any form of wind-down.
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