Retailer Marks & Spencer (M&S) is to launch a chain of in-store banks, offering products including mortgages.
The retailer will open its first banking branch in its London Marble Arch store next month and has announced plans for 50 further branches to open over the next two years.
The move will see the company expand on its current M&S Money brand, expanding into current accounts and mortgages for the first time. Current accounts will be available later this year with mortgages following in due course.
M&S Bank will create 500 new UK jobs by the end of 2013 and will be backed by HSBC. Each branch will be designed to create a 'relaxed, modern banking environment' with M&S furniture and flowers, private meeting areas, self-service banking machines and a bureau de change house in each branch.
See below for an image of a prototype M&S Bank branch:
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