HSBC spoils TSB results party with appearance before MPs – but they don’t mind February 25, 2015 It can be nerve-wracking hosting a party for the first time – what if nobody comes? Have I bought enough food? Will it clash with a more glitzy event in the social calendar? The same applies in the City, too. Yesterday was a big day for TSB, presenting its first set of full-year financial results [...]
TSB share price edges up as profits double February 25, 2015 The figures TSB shares opened 1.5 per cent higher this morning, after it reported statutory profit before tax of £170m in 2014, over 100 per cent up on the previous year. The group is strongly capitalised with a Common Equity Tier one capital ratio of 19.7 per cent. TSB landed 500,000 new bank accounts over [...]
German tech firm Aixtron is Europe’s most shorted stock pre-results February 23, 2015 German tech firm Aixtron came top of the pile as Markit, the financial information firm, yesterday released its review of the most short-sold European companies due to announce results in the coming week. Aixtron, a perennial target for short sellers, saw its shares out on loan rise by 19 per cent in the last month [...]
TSB chief Paul Pester: Seven day bank account switching service fails too many people February 11, 2015 The bank account switching service does not help customers who rely on overdrafts, TSB Bank chief Paul Pester complained yesterday. It is harder for those customers to move, letting the big banks keep hold of them – and their juicy fees – with little competition, he claimed. “Those customers who could benefit most from switching [...]
TSB share price rises on third-quarter profits jump October 24, 2014 Shares in TSB jumped 3.2 per cent this morning, after it published figures showing profits had soared 28.8 per cent to £33.1m in the three months to 30 September as it picked up nearly one in 10 new current accounts in the UK. Franchise banking net interest margin remained stable at 3.61 per cent, while [...]
TSB gaining market share with strong current account switches July 31, 2014 Relaunched high street bank TSB yesterday reported pre-tax profits of £128.5m in the first half of the year. In its first set of results since floating on the stock market, the bank pleased investors with a strong flow of new customers. TSB accounted for 9.2 per cent of all new current accounts in the period, [...]
TSB could be planning to buy the mortgage portfolio of taxpayer-owned “bad bank” July 19, 2014 TSB has expressed an interest in buying the mortgage portfolio from Britain’s so-called bad bank, made up of the remains of Northern Rock and Bradford and Bingley, for £1.4bn according to Sky News. A TSB spokesperson said the bank “did not comment on rumour and speculation” but the boss of the newly-listed bank Paul Pester [...]
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 [...]
Why TSB’s share price has jumped by 13pc on its first day June 20, 2014 On its first day of trading TSB shares have moved up by more than 13 per cent, buoyed by strong investor demand. Lloyds floated the bank at 260p per share, valuing the bank at £1.3bn. The sale was 10 times oversubscribed. For now, trading is only conditional – institutional investors are involved but none of [...]
TSB IPO: Lloyds raises the stakes on bank spinoff June 20, 2014 Lloyds is selling a bigger chunk of TSB than had been expected as the part-nationalised lender takes a bullish approach to spinning off the new challenger bank this morning. The bank is selling 35 per cent of TSB, more than originally expected thanks to a surge in demand. And with shares priced at 260p, firmly [...]