Business · 18 August 2026
Asda credit card firm's £50m debt costs more than it earns
Bryn Holmes via Wikimedia Commons (CC-BY-SA-2.0)
Jaja Finance, the business managing the supermarket's credit cards, recorded a pre-tax loss of roughly £36m for 2025. To help fund its ongoing expansion, the company has borrowed almost £50m since March at a steep 15% annual interest rate. Yearly revenue reached £12.4m, but shareholders still had to inject another £42m just to keep the daily operations running.
Reported by City AM · How we write briefs