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TSB Banking Group

  • MPs fear FCA proposals on overdraft rules could end free banking

    January 15, 2019

    The head of the UK’s financial watchdog told MPs this morning that he is “very alert” to the possibility that proposed rules to tackle charges for unplanned overdrafts could raise the cost of planned consumer borrowing. MPs raised concerns that changes to overdraft rules could negatively impact the availability of free banking as banks would [...]

  • TSB boss Paul Pester beaten in AJ Bell London Triathlon race

    August 9, 2015

    TSB chief Paul Pester took to the Thames in Canary Wharf over the weekend for the AJ Bell London Triathlon, but was beaten in the  race by regional managers from his own bank.   Throughout the year, Pester has pestered TSB colleague from across the country to join him in completing the corporate leg of [...]

  • TSB first half profits down 20 per cent as it reaches final stage of Sabadell takeover

    July 23, 2015

    TSB has revealed a double-digit drop in profits for the first half as it enters the final stage of its takeover by Spanish group Banco Sabadell.  The figures: The challenger bank said pre-tax profits were down 20.1 per cent to £44m, while statutory profits fell even further – down 44 per cent to £23.2m in [...]

  • Lloyds Bank profit increase pushes share price up, despite £660m loss over TSB sale

    May 1, 2015

    The sale of TSB has come at a big price for Lloyds, but investors are undeterred. The figures Lloyds share price has gone up 3.38 per cent, after underlying pre-tax profit rose 21 per cent and beat analyst expectations. Lloyds Bank statutory profit before tax slipped 11 per cent in the first quarter of 2015, falling to [...]

  • TSB boss Paul Pester eyes up acquiring other challenger banks

    April 30, 2015

    TSB, the self-styled challenger bank spun-off from Lloyds last year, could gobble up its competition if the bank's boss has his way. Paul Pester wants to "take on the big guys" and would consider buying up other challenger banks to make that happen. "We are Britain's biggest challenger bank, but we want to really take [...]

  • TSB profit rockets 153pc on last quarter

    April 29, 2015

    The figures Profit before tax at TSB jumped 153 per cent in the first quarter of 2015 compared to the last quarter of 2014, to £34.2m. That said, on the same quarter last year, profits fell 27 per cent – down from £47m. That reflected higher costs, partially offset by continued improvement in impairment losses, the bank said. The [...]

  • TSB share price opens higher as Lloyds accepts £1.7bn takeover offer from Banco de Sabadell

    March 20, 2015

    Shares in TSB opened 1.6 per cent higher at 332.47p this morning after its majority owner, Lloyds, have accepted a £1.7bn takeover offer from Spanish rival Banco de Sabadell. Shares in the challenger bank leapt 27 per cent last week, after TSB issued an announcement suggesting it was "willing to recommend" Sabadell's 340p-per-share offer – [...]

  • From BHS and John Lewis to TSB and the Apple Watch: What got us talking this week?

    March 13, 2015

    Jeremy Clarkson punched a man over a steak. Blurred Lines went from being the song with questionable gender politics to being a Marvin Gaye rip-off. And somewhere above our heads, a pilot got bored and drew rude pictures using GPS flight data.   Here is what got us talking at City A.M.  1. After 15 [...]

  • Lloyds to bank £1.5bn if TSB sale to Banco Sabadell goes ahead

    March 12, 2015

    Lloyds is set to receive a final total of £1.5bn for TSB if the Banco Sabadell sale goes ahead – twice the £750m for which it had previously agreed to sell the lender to the Co-op Bank. The giant bank was forced to sell off TSB under the terms of its 2008 bailout.   The [...]

  • TSB share price leaps 27 per cent as Lloyds backs £1.7bn takeover talks with Spanish bank Sabadell

    March 12, 2015

    Lloyds appeared to give its blessing to an offer by Spanish Banco de Sabadell for challenger bank TSB this morning, in which it has a 50 per cent stake. TSB said it had been offered 340p in cash per share, about a 30 per cent premium on last night's closing price, valuing the lender at [...]

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