TSB promises rapid growth to new investors May 27, 2014 NEW HIGH street bank TSB yesterday set out plans to grow by 50 per cent over the coming years, hoping to attract investors with an ambitious expansion plan. Lloyds is selling the 631-branch bank and published its intention to float the lender on the stock market yesterday. The sale comes at a tricky moment as [...]
Lloyds chief Antonio Horta Osorio warns breaking up banks will hurt small businesses February 10, 2015 Splitting off new high street banks from Lloyds and RBS has not helped boost competition for small businesses, Lloyds’ chief claimed yesterday. In a carefully worded warning to Ed Miliband – who wants to break up the big banks – Antonio Horta Osorio said other solutions are needed to help SMEs shop around. “Many things [...]
TSB share price slips after retail investors enter trading party June 25, 2014 Shares in TSB Banking Group weakened yesterday after it moved to formal trading on the London Stock Exchange. The stock closed down four per cent at 285p, taking some of the froth off the newly-listed company’s market debut. TSB roared out of the blocks when it was informally traded last week, rising from an issue [...]
Chinese banks’ brands overtake HSBC and Santander by value February 1, 2015 CHINESE banks are leaping up the league tables of valuable brands, overtaking western titans according to a study out today from Brand Finance and The Banker magazine. ICBC’s valuation rose by 20 per cent on the year, climbing from sixth place to second, overtaking HSBC and threatening number one brand Wells Fargo. Agricultural Bank of [...]
The 100 City people you need to follow on Twitter this year, day three: Chairmen and chief executives January 7, 2015 Last year was a tough one to be a leader in the City. As regulators got tough on businesses in the finance, energy and infrastructure sectors, there was a moral panic about who pays how much tax, with various companies having their dirty washing put unceremoniously on display. So you can forgive chairmen and chief [...]
TSB set to sell for twice what Co-op offered June 9, 2014 TSB’S flotation could value the bank at as much as £1.44bn when the price range is announced – which could come as soon as today. The initial public offering (IPO) valuation is almost twice the £750m maximum offered by the Co-op Bank, which had previously tried to buy the 631 branches being sold by Lloyds [...]
TSB IPO: What you need to know about the float and the new bank June 19, 2014 Strong demand from investors in TSB has led to Lloyds increasing the amount of stock it is offering in TSB. The volume on offer has been increased by 40 per cent on the first morning, with 175m shares offered to the public. Higher than expected interest is raising hopes that Lloyds will meet its target [...]
EU green lights TSB’s flotation May 13, 2014 THE EUROPEAN Commission has given the final go-ahead to Lloyds Banking Group’s plans to float TSB bank next month. The EU authority confirmed that the bank’s restructuring plan was within the bloc’s rules yesterday, meaning that an initial public offering of shares in the separated TSB bank by the end of next month. The Commission also offered [...]
TSB plans to offer bonus shares to long-term investors May 27, 2014 NEW HIGH street bank TSB is expected to try to attract more long-term investors by offering a bonus for those shareholders who stick with the business. The lender is being sold off by Lloyds, and the details of the stock market flotation could be announced as soon as today. It wants the initial public offering [...]
TSB plans to offer bonus shares to long-term investors May 27, 2014 NEW HIGH street bank TSB is expected to try to attract more long-term investors by offering a bonus for those shareholders who stick with the business. The lender is being sold off by Lloyds, and the details of the stock market flotation could be announced as soon as today. It wants the initial public offering [...]