M&S Bank has been a wholly owned subsidiary of HSBC since 2004, which is made clear in all customer communication; and Marks and Spencer plc has a share in the profits. It is one of the most trusted brands in the world and we work closely with HSBC to provide a compelling and convenient offer for our customers. M&S Bank has approximately 1600 members of staff, following its launch in July 2012. There are currently approximately 3.7 million customers.