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Boots considering move into personal banking

High street health and beauty chain Boots is considering a move into personal banking.

Speaking during an interview, Alliance Boots executive chairman Stefano Pessina said he wouldn’t rule out a move into personal banking as part of the group’s growth plans going forward.

Boots, part of Alliance Boots, has 2,600 stores and pharmacies.

An Alliance Boots spokeswoman says: “Stefano was having a big discussion about all sorts of strategies and potential moves, and he said it wasn’t on his to do list at the moment but of course it is something that a lot of people will be considering, especially with what has happened with the confidence in UK banking.”

Pessina’s comments come after Tesco announced last month that it is to open bank branches in 30 of its stores.

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