Natwest set to receive £47m after reducing stake in Irish bank Permanent TSB June 2, 2023 Natwest and the Irish finance ministry have sold nearly 55m shares in Permanent TSB, representing about 10 per cent of the Irish bank’s share capital. The sale reduces Natwest’s share holding from around 16.7 per cent to around 11.7 per cent. The Irish government will continue to hold 57.4 per cent of the bank. The [...]
TSB hit with £48.7m by watchdogs over 2018 IT fiasco December 20, 2022 High street lender TSB has been slapped with a £48.65m by City watchdogs today for “widespread” failings during a 2018 IT update programme, which left millions of customers without access to banking services.
TSB calls on Meta to make ‘urgent’ interventions on fraud or consumers risk losing up to £250m June 14, 2023 TSB Bank has called on Meta to make urgent interventions to protect consumers from spiralling levels of fraud with customers at risk of losing hundreds of millions of pounds. According to current industry projects, consumers could lose up to £250m from Meta platforms in 2023 without action from the tech giant. Earlier this year, TSB [...]
TSB Bank’s ex-chief information officer fined more than £80,000 over IT debacle April 13, 2023 TSB Bank’s former chief information officer has been fined £81,620 by the industry watchdog for failures relating to the botched merger of the firm’s IT services in 2018. The Prudential Regulation Authority (PRA) said Carlos Abarca, who left the bank in December 2019, “failed to take reasonable steps” to ensure that TSB managed the outsourcing [...]
Nationwide, Virgin Money and TSB rapped by Which? for leaving website and app ‘doors open’ to scammers February 7, 2023 Websites and apps used by customers of some of the UK’s largest banks are missing crucial security protections, potentially leaving “open doors” for scammers, consumer group Which? has claimed. Which? tested the customer-facing security systems of 13 current account providers from September to November 2022, with help from security experts at Red Maple Technologies. Account [...]
Record profits place TSB on course for £50m dividend but impairment charges rise on recession fears January 26, 2023 TSB Bank proposed a £50m payout to its parent company in the first quarter of 2023 as its yearly pretax profit increased to a record level. Pretax profit in the 2022 financial year rose to £183.5m from £157.5m in 2021, reflecting lending growth, higher interest rates and higher deposit margins. This figure includes the costs [...]
TSB: Quarter of fraud payment victims denied money back in new scheme as regulator urged to rethink January 7, 2023 TSB is urging a regulator to reconsider proposals which could mean one in four people who are tricked into transferring money to a fraudster being denied their money back. The bank said the Payment Systems Regulator (PSR) should reconsider the plans for a new bank transfer fraud refund mechanism that would allow banks to exclude [...]
TSB’s Debbie Crosbie becomes Nationwide’s first female chief exec December 3, 2021 Nationwide Building Society, Britain’s second-biggest provider of home loans, said this morning it has appointed Debbie Crosbie as its new chief executive officer. Crosbie, who is currently the chief exec of Spain’s Sabadell’s TSB unit, will take over from Joe Garner in the new year. She will be the group’s first female executive director, Nationwide [...]
Cough up cash for small suppliers TSB tells rivals April 19, 2022 High street lender TSB has called on rivals Co-Operative Bank and Metro Bank to speed up supplier payments after data found the banks are among the worst culprits for paying suppliers late.
4,500 TSB staff to be given £1,000 payment to weather cost-of-living crisis July 25, 2022 Around 4,500 staff at TSB are to be given a £1,000 payment after the high street lender became the latest firm to announce payouts to help employees weather the cost-of-living crisis. The payment will be made to all staff at the bank earning £35,000 or less and will be made in two stages – one [...]