Tuesday 21 November 2017

TSB Banking Group: new British bank posts 2.3pc rise in pre-tax profit

A woman walks into a branch of TSB bank in London. Reuters/Neil Hall
A woman walks into a branch of TSB bank in London. Reuters/Neil Hall

New British bank TSB Banking Group said its full-year pre-tax profit rose 2.3pc, as the number of new accounts increased.

TSB, which became Britain's 7th biggest lender after it was hived off from Lloyds Banking Group last June, said it would consider inorganic growth opportunities.

Pretax profit rose to £133.7m (€182.3m) for the year ended Dec. 31 from £130.7m (€178.2m) in 2013.

British regulators are keen for new banks to challenge Britain's big four lenders - Lloyds, Royal Bank of Scotland , Barclays and HSBC, which provide three-quarters of personal current accounts.

Reuters

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