TSB Bank names new boss as Robin Bulloch to retire Banking TSB Bank has appointed Marc Armengol to be its new chief executive as current boss Robin Bulloch prepares to retire after a 45-year career in banking. The bank said on Friday that Armengol, director of operations and technology at Spanish parent company Banco de Sabadell, is expected to rejoin TSB in early 2025. He previously [...]
TSB Bank handed huge fine for failing customers in arrears Banking The financial watchdog has fined bank TSB almost £11m over its treatment of customers, but the penalty could have been even worse. TSB Bank will have to pay £10,910,500 after the Financial Conduct Authority (FCA) found it had failed to ensure customers in arrears were treated fairly. The FCA said it also didn’t have sufficient [...]
BBVA secures UK approval to acquire TSB Bank in hostile takeover bid Banking The UK's main banking regulator has given BBVA permission to take indirect control of TSB Bank, as the lender's Spanish parent Sabadell fends off its hostile takeover attempt.
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.
TSB shifts Square Mile hub as staff defy work from home expectations June 16, 2024 The controversial work-from-home trend, catalysed by the Covid-19 lockdowns, has drawn criticism by some business leaders and politicians.
Will TSB be the next challenger bank to go up for sale? May 20, 2024 A potential sale of TSB Bank is back in focus as its Spanish parent company Sabadell grapples with a rare hostile takeover attempt by larger domestic rival BBVA.
BBVA could raise offer for Sabadell by selling TSB, analysts say May 13, 2024 Analysts have argued Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBVA) could raise its hostile takeover bid for smaller domestic rival Banco Sabadell by selling its UK arm TSB.
BBVA launches hostile takeover bid for TSB owner Sabadell May 9, 2024 BBVA has launched a hostile takeover bid for Banco Sabadell after its first offer was rejected.
TSB Bank to cut 250 more jobs and close 36 branches in cost-cutting drive May 8, 2024 TSB Bank is planning to cut around 250 jobs as part of a broader restructuring effort, joining other mid-sized high street lenders looking to reduce costs.
BBVA refuses to raise offer for Spanish bank merger with TSB owner Sabadell May 8, 2024 Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBVA) has written to smaller domestic rival Banco Sabadell saying that it would not raise its offer for a merger, which Sabadell rejected earlier this week.