 | It has been suggested that Trustee Savings Bank be merged into this article. (Discuss) Proposed since April 2024. |
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| Company type | Subsidiary |
|---|---|
| Industry | Banking Financial services |
| Predecessor | Lloyds TSB Cheltenham & Gloucester |
| Founded | 2013 |
| Headquarters | Edinburgh, Scotland |
Number of locations | 212 branches (2024) |
Area served | United Kingdom |
Key people | Nicholas Prettejohn (Chairman) Robin Bulloch (Chief Executive) |
| Products | Retail banking Commercial banking General insurance Life insurance |
| Revenue | £1.1 billion (2022) |
| £181 million (2022) | |
Number of employees | 5,592 (2022) |
| Parent | Sabadell Group |
| Website | www |
| Footnotes / references [1] | |
TSB Bank plc is a British retail and commercial bank based in Edinburgh, Scotland. It has been a subsidiary of Sabadell Group since 2015.
As of 2022[update], TSB Bank operates a network of 220 branches.[1] TSB was launched on 9 September 2013. Its headquarters are located in Edinburgh, Scotland, and it has more than five million customers[2] with over £37 billion of lending and £36 billion of customer deposits. The bank was formed from the existing business of Lloyds TSB Scotland plc, into which a number of Lloyds TSB branches in England and Wales and all branches of Cheltenham & Gloucester were transferred,[3] and renamed TSB Bank plc.
A European Commission ruling that the British government's 2009 purchase of a 43% stake in Lloyds Banking Group counted as state aid made it necessary for Lloyds Banking Group to sell a portion of its business; TSB was divested. Post-divestment, TSB offered an initial public offering and was listed on the London Stock Exchange in June 2014.[4] In 2015, it was acquired by Sabadell Group.[5]
- ^ a b TSB Banking Group plc: Annual Report and Accounts. TSB (Report).
- ^ "2020 Full Year Results" (PDF). TSB Bank. 19 January 2022.
- ^ Emma Simon (26 November 2012). "Millions of Lloyds customers told banking details to change". The Daily Telegraph. Archived from the original on 27 November 2012. Retrieved 16 March 2013.
- ^ "TSB shares jump on trading debut and lift prospects for future Lloyds sell-off". The Guardian. 20 June 2014. Retrieved 20 June 2014.
- ^ "Banco Sabadell acquires 100% of TSB shares – Banco Sabadell". bancsabadell.com. Retrieved 17 July 2015.