Tuesday, July 1, 2025
24*7 News World
  • Home
  • World

    Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman Highlights Key Policy Measures to Promote Export-led Growth at Exim Bank’s Trade Conclave

    Tobacco control efforts protect 6.1 billion people – WHO’s new report

    MB Patil Showcases Karnataka’s Investment Potential During Denmark Roadshow

    Roche’s Lunsumio and Polivy combination significantly prolongs remission for people with relapsed or refractory large B-cell lymphoma

    | Meghna Ghodawa-
PHOTO CREDIT-

    Beat the monsoon greys in style with India’s first UPF resort-wear line by Meghna Ghodawat

    PHOTO CREDIT:The Jamaica Tourist Board (JTB)

    Jamaica Tourism Launches a Brand-New Campaign “70 Days of Jamaica Love” to Celebrate 70 Years of Jamaica

  • National
    • All
    • Economy & Politics
    • Election

    *Padma Shri Dr. Prahalad Rama Rao, Project Director (DRDO) felicitated.

    Tata ClassEdge Limited Announces Strategic Collaboration with Tata STRIVE to Bridge Education and Employability

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    60% of Indians Sleep less than 6 Hours Nightly as Sleep Supplements Surge 650%

    SOUL Festival Announces its Third Chapter – 9th to 13th October at Soneva Fushi

  • Business

    Viridian Financial Group Welcomes Strategic Growth Investment from TA Associates to Expand Leading Diversified Financial Services Business in Australia

    Patrick Vith, CEO of thyssenkrupp Steering (L), with Rajkumar Ravindranathan, Chief Business Officer – EMEA & RoW, LTTS (R).

    L&T Technology Services and thyssenkrupp Steering Business Unit Enter Into a Strategic Partnership to Establish a Global Software Hub in Pune, India

    source:Syngenta Group

    Syngenta to become global leader in biologicals; expanding nature inspired solutions for farmers

  • Health

    Apollo Cancer Centres Launches ‘CanWin’.

    Protect and Perfect: How Face Yoga and Sunscreen Can Transform Your Skin

    Panasonic-partners-with-MeitY-Nasscom-Centre

    Panasonic partners with MeitY Nasscom Centre of Excellence (CoE) to accelerate innovation in Smart Residential Living

    Herbalife Logo

    Herbalife’s Aloin Identification Method for Aloe Vera Officially Recognized by AOAC INTERNATIONAL

    “Indian patients no longer need to look abroad for advanced treatment,” said Dr. Sharat Damodar, Senior Consultant, Haematologist and Head of Adult BMT at Narayana Health City, Bengaluru and Chairman of the Oncology Collegium at Narayana Health.

    WHO issues first global guideline to improve pregnancy care for women with sickle cell disease

  • Technology
    • All
    • Environment
    • Science

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    AMD Unveils Vision for an Open AI Ecosystem, Detailing New Silicon, Software and Systems at Advancing AI 2025

    U.S. Insurers to More than Double AI Investment in the Next 3-5 Years: Wipro Report

    Union Minister for Agriculture and Farmers Welfare Shivraj Singh Chouhan to visit Hyderabad on Monday

  • Auto

    Odysse Electric Clocks 344 Units Sold in June, Records 54% Monthly Growth

    DGCA carries out comprehensive surveillance at major airports, including Delhi and Mumbai

    India Opens Doors to Global EV Giants with Portal Launch under SPMEPCI

    Force Motors along with BMW Group India Celebrates the Roll-Out of its 100,000th engine from the Chennai Plant

  • Sports

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    BCCI mourns the passing of Dilip Doshi

    PHOTO CREDIT:Amruta Fadnavis

    Amruta Fadnavis Ropes in Arjun Kapoor & Nushrratt Bharuccha for Soulful Yoga Day with 1,000 Marginalised Women

    Union Minister Dr. Mansukh Mandaviya leads Fit India Sundays on Cycle in New Delhi in collaboration with Yogasana Bharat; Says Even One Pedal in cycle is Making India a Fitness Powerhouse

  • Entertainment
    Vogue Wedding Atelier presented by HSBC India at Taj Palace, New Delhi, from 8-10 August 2025

    A New Era in Luxury Weddings – Vogue Wedding Atelier Debuts in India

    GenS Life and Dowith Lit Present ‘Senior Spotlight’: Bengaluru’s Open Mic Celebration for the 55+

    PMJ Jewels Launches PMJ SuperStar Bracelet and ‘Celebrating Daughters’ Campaign

    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

    Sri Sai Gold Palace’s 7th store inaugurated in Malleshwaram,Bengaluru.

    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

  • Lifestyle
    • All
    • Food
    • Travel

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    60% of Indians Sleep less than 6 Hours Nightly as Sleep Supplements Surge 650%

    SOUL Festival Announces its Third Chapter – 9th to 13th October at Soneva Fushi

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    Anantha Foods Opens Its Third Outlet in Bengaluru

    Board Games & Brews: McCafé hosts community Game Night

No Result
View All Result
24*7 News World
  • Home
  • World

    Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman Highlights Key Policy Measures to Promote Export-led Growth at Exim Bank’s Trade Conclave

    Tobacco control efforts protect 6.1 billion people – WHO’s new report

    MB Patil Showcases Karnataka’s Investment Potential During Denmark Roadshow

    Roche’s Lunsumio and Polivy combination significantly prolongs remission for people with relapsed or refractory large B-cell lymphoma

    | Meghna Ghodawa-
PHOTO CREDIT-

    Beat the monsoon greys in style with India’s first UPF resort-wear line by Meghna Ghodawat

    PHOTO CREDIT:The Jamaica Tourist Board (JTB)

    Jamaica Tourism Launches a Brand-New Campaign “70 Days of Jamaica Love” to Celebrate 70 Years of Jamaica

  • National
    • All
    • Economy & Politics
    • Election

    *Padma Shri Dr. Prahalad Rama Rao, Project Director (DRDO) felicitated.

    Tata ClassEdge Limited Announces Strategic Collaboration with Tata STRIVE to Bridge Education and Employability

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    60% of Indians Sleep less than 6 Hours Nightly as Sleep Supplements Surge 650%

    SOUL Festival Announces its Third Chapter – 9th to 13th October at Soneva Fushi

  • Business

    Viridian Financial Group Welcomes Strategic Growth Investment from TA Associates to Expand Leading Diversified Financial Services Business in Australia

    Patrick Vith, CEO of thyssenkrupp Steering (L), with Rajkumar Ravindranathan, Chief Business Officer – EMEA & RoW, LTTS (R).

    L&T Technology Services and thyssenkrupp Steering Business Unit Enter Into a Strategic Partnership to Establish a Global Software Hub in Pune, India

    source:Syngenta Group

    Syngenta to become global leader in biologicals; expanding nature inspired solutions for farmers

  • Health

    Apollo Cancer Centres Launches ‘CanWin’.

    Protect and Perfect: How Face Yoga and Sunscreen Can Transform Your Skin

    Panasonic-partners-with-MeitY-Nasscom-Centre

    Panasonic partners with MeitY Nasscom Centre of Excellence (CoE) to accelerate innovation in Smart Residential Living

    Herbalife Logo

    Herbalife’s Aloin Identification Method for Aloe Vera Officially Recognized by AOAC INTERNATIONAL

    “Indian patients no longer need to look abroad for advanced treatment,” said Dr. Sharat Damodar, Senior Consultant, Haematologist and Head of Adult BMT at Narayana Health City, Bengaluru and Chairman of the Oncology Collegium at Narayana Health.

    WHO issues first global guideline to improve pregnancy care for women with sickle cell disease

  • Technology
    • All
    • Environment
    • Science

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    AMD Unveils Vision for an Open AI Ecosystem, Detailing New Silicon, Software and Systems at Advancing AI 2025

    U.S. Insurers to More than Double AI Investment in the Next 3-5 Years: Wipro Report

    Union Minister for Agriculture and Farmers Welfare Shivraj Singh Chouhan to visit Hyderabad on Monday

  • Auto

    Odysse Electric Clocks 344 Units Sold in June, Records 54% Monthly Growth

    DGCA carries out comprehensive surveillance at major airports, including Delhi and Mumbai

    India Opens Doors to Global EV Giants with Portal Launch under SPMEPCI

    Force Motors along with BMW Group India Celebrates the Roll-Out of its 100,000th engine from the Chennai Plant

  • Sports

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    BCCI mourns the passing of Dilip Doshi

    PHOTO CREDIT:Amruta Fadnavis

    Amruta Fadnavis Ropes in Arjun Kapoor & Nushrratt Bharuccha for Soulful Yoga Day with 1,000 Marginalised Women

    Union Minister Dr. Mansukh Mandaviya leads Fit India Sundays on Cycle in New Delhi in collaboration with Yogasana Bharat; Says Even One Pedal in cycle is Making India a Fitness Powerhouse

  • Entertainment
    Vogue Wedding Atelier presented by HSBC India at Taj Palace, New Delhi, from 8-10 August 2025

    A New Era in Luxury Weddings – Vogue Wedding Atelier Debuts in India

    GenS Life and Dowith Lit Present ‘Senior Spotlight’: Bengaluru’s Open Mic Celebration for the 55+

    PMJ Jewels Launches PMJ SuperStar Bracelet and ‘Celebrating Daughters’ Campaign

    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

    Sri Sai Gold Palace’s 7th store inaugurated in Malleshwaram,Bengaluru.

    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

  • Lifestyle
    • All
    • Food
    • Travel

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    60% of Indians Sleep less than 6 Hours Nightly as Sleep Supplements Surge 650%

    SOUL Festival Announces its Third Chapter – 9th to 13th October at Soneva Fushi

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    Anantha Foods Opens Its Third Outlet in Bengaluru

    Board Games & Brews: McCafé hosts community Game Night

No Result
View All Result
24*7 News World
No Result
View All Result
Home Business

TSB announces 2018 full year results

FWM by FWM
February 1, 2019
in Business
0

While last year was TSB’s most challenging year, the Bank enters 2019 with a modern platform set up to serve more customers in more communities than ever before.

Today, 1 February 2019, TSB announces its financial results for the year to 31 December 2018:

  • TSB’s statutory loss before tax for 2018 was £105.4 million, against a profit of £162.7 million in 2017, reflecting the impact of the issues following the Bank’s IT migration.
  • In total, TSB has recognised post-migration costs, including customer compensation, additional resources, fraud and foregone income of £330.2 million, partially offset by the provisional recovery of £153.0 million from TSB’s IT provider, Sabis.
  • At 31 December 2018, TSB’s total customer lending was £30.0 billion and total customer deposits stood at £29.1 billion.
  • Common Equity Tier 1 capital ratio and liquidity coverage ratio remained very strong at 19.5% and 298.1% respectively, with the loan to deposit ratio at 103.2%.
  • Around 140,000 customers opened a new bank account or switched their account to TSB in 2018.
  • Around 80,000 customers switched their bank account away from TSB in 2018 with volumes peaking in Q2; this compares with around 50,000 customers switching their account away from TSB in 2017.
  • TSB now has 3.8 million current account customers and over five million customers in total.

TSB has continued to make good progress on its three priorities announced in September 2018:

1. Completing the work of putting things right for customers:

  • TSB has resolved around 90% (181,000) of the 204,000 customer complaints received since migration. TSB estimates approximately a quarter of this total would have been received in the usual course of business.
  • New complaints being received are significantly lower in volume and closer to pre-migration levels, with the majority no longer connected to migration issues.

2. Enabling the Bank to achieve full functionality for customers, including availability of all product services and the launch of a leading business banking offer:

  • All critical and urgent IT fixes have been applied, IT services are now stable within the range of industry performance, and the majority of products are available across all channels.
  • In December, TSB was named as part of the Incentivised Switching Scheme for SMEs, and the Bank is bidding for a grant from the Capability and Innovation Fund.

3. Appointing a Chief Executive for the next chapter of TSB:

  • In November, Debbie Crosbie was announced as CEO designate1 and she joins the business in Spring 2019.
  • To recognise the exceptional team effort across the business to put things right for customers, the Board awarded TSB Partners (excluding Executives) £1,500 each in December.
  • The Board has decided that no other bonuses will be paid for 2018.

Looking ahead to 2019:

  • TSB’s new IT system provides a coherent architecture involving significantly fewer platforms with improved and faster service for customers and Partners.
  • Current accounts can now be opened in branch in half the time compared with the old system, and online current account openings have returned to underlying pre-migration levels following the launch of an improved online application.
  • Mortgage brokers can also submit applications in half the time compared with the old system; TSB has already started to see the benefit with the busiest ever week in the Bank’s history for mortgage applications in December 2018.
  • The Bank is committed to strengthening its support for small and local businesses right across Britain with a multi-million-pound investment programme underway to build new banking services for small businesses.
1 The appointment is subject to regulatory approval.

Richard Meddings, TSB Executive Chairman, says: “Last year was TSB’s most challenging year. But we enter 2019 with renewed ambition to re-emerge as the leading challenger bank in the UK – firmly on the side of the customer. We have a truly customer-focused team, a strong banking system that customers are starting to see the benefits of, and look forward to our new CEO, Debbie Crosbie, joining us later this year.

ADVERTISEMENT

“In addition to continuing to improve our offer for consumers, we are going to make a significant move into business banking. We have a multi-million-pound investment programme underway to help us grow our business banking offer across every town and city we serve – as the only challenger bank with a nationwide branch network, and we were named in December as part of the Incentivised Switching Scheme.

“Whilst the migration caused considerable difficulties, we’re now a stronger bank, operating on a more coherent and modern platform, and able to service more customers than ever before. Helping local communities and businesses to thrive is just one element in being an essential part of the fabric of communities and their high streets – along with creating jobs, tackling fraud, and helping those in need through our charity partnerships.

“At a time when some banks are quietly retreating from communities, we’re proud to support local customers and businesses through our branches across the country, alongside digital and telephone banking.”

Tags: TSB
FWM

FWM

Related Posts

Business

Viridian Financial Group Welcomes Strategic Growth Investment from TA Associates to Expand Leading Diversified Financial Services Business in Australia

by FWM
June 30, 2025
Patrick Vith, CEO of thyssenkrupp Steering (L), with Rajkumar Ravindranathan, Chief Business Officer – EMEA & RoW, LTTS (R).
Business

L&T Technology Services and thyssenkrupp Steering Business Unit Enter Into a Strategic Partnership to Establish a Global Software Hub in Pune, India

by FWM
June 30, 2025
source:Syngenta Group
Business

Syngenta to become global leader in biologicals; expanding nature inspired solutions for farmers

by FWM
June 30, 2025
Business

BEL receives orders worth Rs.528 Crore

by FWM
June 30, 2025
Business

Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, chaired the annual review meeting with MDs and CEOs of Public Sector Banks in New Delhi today

by FWM
June 28, 2025

Stay Connected

Viridian Financial Group Welcomes Strategic Growth Investment from TA Associates to Expand Leading Diversified Financial Services Business in Australia

June 30, 2025
Patrick Vith, CEO of thyssenkrupp Steering (L), with Rajkumar Ravindranathan, Chief Business Officer – EMEA & RoW, LTTS (R).

L&T Technology Services and thyssenkrupp Steering Business Unit Enter Into a Strategic Partnership to Establish a Global Software Hub in Pune, India

June 30, 2025

*Padma Shri Dr. Prahalad Rama Rao, Project Director (DRDO) felicitated.

June 30, 2025

Recent News

Viridian Financial Group Welcomes Strategic Growth Investment from TA Associates to Expand Leading Diversified Financial Services Business in Australia

June 30, 2025
Patrick Vith, CEO of thyssenkrupp Steering (L), with Rajkumar Ravindranathan, Chief Business Officer – EMEA & RoW, LTTS (R).

L&T Technology Services and thyssenkrupp Steering Business Unit Enter Into a Strategic Partnership to Establish a Global Software Hub in Pune, India

June 30, 2025

*Padma Shri Dr. Prahalad Rama Rao, Project Director (DRDO) felicitated.

June 30, 2025
source:Syngenta Group

Syngenta to become global leader in biologicals; expanding nature inspired solutions for farmers

June 30, 2025
ADVERTISEMENT

© 2018 | Fortune World Media | MEDIA & ENTERTAINMENT CO. IN | Powered by Raja's Digital

error: Content is protected !!
No Result
View All Result
  • Home
  • World
  • National
  • Business
  • Economy & Politics
  • Election
  • Health
  • Technology
  • Auto
  • Sports
  • Entertainment
  • Lifestyle

© 2018 | Fortune World Media | MEDIA & ENTERTAINMENT CO. IN | Powered by Raja's Digital

Go to mobile version