UK supermarket Tesco is set to create 200 new banking jobs at a new Edinburgh headquarters for its financial services business.
The supermarket - which bought out the Royal Bank of Scotland to take complete control of Tesco Personal Finance in December - has signed a 15 year lease on the new headquarters in the Haymarket area of Edinburgh.
Around 250 members of staff will relocate from existing premises in South Gyle, on the city's outskirts, in the second quarter, with a further 200 new recruits set to join them over the next 12 months.
Benny Higgins, chief executive, Tesco Personal Finance, says: "Tesco has made an important step by committing to expanding its financial services business from Scotland. Edinburgh is the ideal place from which to move what is already a successful business into the next stage of its development."
The Scottish Financial Enterprise welcomed the decision to locate the HQ in the city, calling it a "real boost".
The recruitment drive is part of Tesco's plan to extend its financial services business from "collection of successful financial products to that of a full service retail bank".
This week the unit revealed it has almost doubled the amount of money people deposit with it during the past six months and now has around 500,000 savers.