Tesco PLC the world's third-biggest retailer by sales, has its eye on the U.K. mortgage market as the global banking turmoil takes out major players and reshapes the industry.

The Cheshunt retailer may offer mortgages through its bank as a result of the significant changes within the banking industry, Andrew Higginson, its finance and strategy director, said Tuesday, though any mortgage offer is at least 12 months away.

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