After the recent spate of grim news for local banks, Edinburgh's battered financial industry got a much-needed boost yesterday.
Tesco, Britain's biggest retailer, announced plans to create 200 new Edinburgh jobs as it sets up a headquarters for its expanding Personal Finance arm in Edinburgh's Haymarket area.
Tesco Personal Finance bought out its joint venture partner, Royal Bank of Scotland, in December and it now plans to offer more banking services.
The retail giant has signed a 15-year lease for its Haymarket headquarters. Around 250 staff will relocate from its current offices in South Gyle to Haymarket with 200 new staff recruited over the next year.
"Edinburgh is the ideal place from which to move what is already a successful business into the next stage of its development," said Tesco Personal Finance chief executive Benny Higgins.