By Ian Walker
J Sainsbury PLC said Friday that it has ended talks to sell its banking arm as it believes the business will deliver better value for shareholders being kept within the group.
The U.K.'s second-largest grocer by market share said it continues to make progress strengthening and simplifying its financial-services business, and remains comfortable with consensus profit forecasts for the unit.
Current market forecasts for the financial-services arm is for underlying operating profit of 26 million pounds ($35.9 million) for fiscal 2022 ending in March, and GBP43 million for fiscal 2023, it said.
Sainsbury said on Nov. 17 that it had received a number of expressions of interest for its banking business.
Write to Ian Walker at ian.walker@wsj.com
