Sainsbury's Bank launched its first television advertising campaign promoting personal loans on January 8 as part of an aggressive growth strategy.
The four-week campaign features TV chef Jamie Oliver telling his friend to get a bank loan for a fridge while he is out shopping at Sainsbury.
Although Sainsbury will not give a figure, the campaign is estimated to have cost between £2m and £3m. "This campaign is a significant step in accelerating the growth of Sainsbury's Bank. The business became profitable two years after its launch and there is much potential for growth," said the bank's chief executive Tim Pile.
Sainsbury was the first UK supermarket to launch a bank, in 1997, and during the first half of this financial year it has increased customer acquisitions by 90%, insurance sales by 63%, doubled its number of loans and launched car insurance.

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