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its Common Equity Tier 1 capital ratio remained strong at

19.2%.

While around 26,000 customers switched their bank account

away from TSB, more than 20,000 customers opened a new

bank account or switched their account to TSB in the second

quarter of the year. (2)

Pester commented:

“Our priority in the second half of the year

continues to be putting things right for our
customers. Looking further ahead we are

determined to get back to bringing more

competition to UK banking and ultimately making

banking better for consumers and small

businesses.” (2)

TSB remains one of the most strongly capitalised banks in

the UK with a healthy liquidity reserve. Moreover, it is

discussing with Sabadell Group how TSB might “in source”

its IT infrastructure from Sabis and manage it directly.

Given its financial position in the long-run TSB will aim to

create a platform that will deliver benefits to consumers –

and more importantly enable it to achieve its local business

focus right across the UK.