Co-op bank confirms TSB approach October 25, 2021 The Co-op bank has today confirmed it approached Spanish lender Banco de Sabadell over buying fellow bank TSB. The bank said that it sent a letter to Banco de Sabadell but that no discussions are currently taking place between the two banks. More to follow.
High Street bank TSB returns to profit thanks to record mortgage lending January 27, 2022 High street bank TSB has revealed it returned to profit in 2021 thanks to record mortgage lending and a bounce back in the wider economy. The Spanish-owned lender posted annual pre-tax profits of £157.5m against losses of £204.6m in 2020. It comes after TSB notched up its highest-ever gross mortgage lending at £9.2 billion for [...]
‘About a third’ of Facebook Marketplace listings could be scams, MPs told February 7, 2024 A director at TSB Bank has warned a group of top MPs that Facebook Marketplace and cryptocurrency investment are major breeding grounds for scams amid calls for Big Tech to take more responsibility for a wave of fraud on social media.
City bombshell: Hundreds of angry Northern Rock clients sue TSB Bank for £800m after being trapped in high-interest mortgages July 18, 2022 City A.M. was told this morning that TSB Bank is facing a legal action worth up to £800m, brought by customers who claim they were locked into mortgages with ‘excessively high’ interest rates. Today, six years to the day since TSB bought £3.3bn mortgages from Northern Rock, approximately 200 homeowners whose mortgages have been administered [...]
TSB becomes latest bank to announce closures as it shuts 70 branches November 30, 2021 TSB said it will close more branches as use by customers “declines further” and more people are choosing to bank digitally. It said 150 jobs will be affected by the move, but that all staff will be offered alternative roles at TSB. It stressed that it will continue to have the seventh largest branch network [...]
TSB turns down ‘£1bn merger approach’ from Co-Operative Bank October 24, 2021 Co-operative Bank’s £1bn-plus offer for TSB has been rebuffed by its Spanish owners. Sabadell’s board decided to reject the offer at the end of September. The deal would have created a high street lender with 340 branches and over eight million customers, according to Sky News, which first reported the acquisition attempt. This would encompass [...]
Ex-TSB chief Richard Meddings frontrunner: City banker emerges as preferred candidate for NHS England chairman role December 24, 2021 In a bid to make NHS England more “accountable” for its funding, a City banker is set to become the body’s new chairman. The Department of Health and Social Care confirmed former TSB chairman Richard Meddings is the Government’s preferred candidate for the role on Thursday. The Telegraph reported that ministers wanted Mr Meddings to [...]
TSB profits bounceback from Covid lows as mortgage lending recovers July 29, 2021 Profits recovered from Covid lows at bank TSB, driven by the lender reporting lower loan-loss provisions as a wave of predicted defaults triggered by Covid failed to materialise and improved mortgage lending. The bank registered a net profit of £42.9m in the first half of this year compared to a loss of £65.5m in the [...]
CEO of Sabadell ‘open to selling off’ TSB Bank unit June 21, 2021 CEO of Sabadell 'open to selling' TSB Bank
CMA rebukes four banks for failing to provide correct information to customers July 25, 2024 The competition watchdog has publicly rebuked four banks for failing to comply with rules ensuring lenders provide clear and up to date information to their customers.