TSB Bank (United Kingdom)
TSB Bank plc is a British retail and commercial bank in Edinburgh, Scotland. It has been a subsidiary of Sabadell Group since 2015.
| Company type | Subsidiary |
|---|---|
| Industry | Banking Financial services |
| Predecessor | Lloyds TSB Cheltenham & Gloucester |
| Founded | 2013 |
| Headquarters | Edinburgh, Scotland, UK |
Number of locations | 220 branches (2022) |
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 | |
As at 2022, TSB Bank operates a network of 220 branches. TSB was launched on 9 September 2013. Its headquarters are located in Edinburgh, Scotland, and it has more than five million customers 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, 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. In 2015, it was acquired by Sabadell Group.