Latest news with #TSBBank
Scoop
2 days ago
- Business
- Scoop
TSB Lifts Profit And Builds Momentum For Digital Investment
TSB Bank has reported another year of strong financial performance and strategic progress. The Bank delivered a net profit before tax of $57.6 million for the year ending 31 March 2025, up $6.7 million on the previous year. In the 2025 financial year $15m in dividends have been declared to shareholder Toi Foundation Holdings Limited (the investment management entity of philanthropic organisation Toi Foundation), an increase on the $10m declared in the prior financial year. Performance was underpinned by a $7.8 million increase in net operating income and a 1.7% reduction in operating costs. Lending and deposit growth remained strong, with commercial lending up 29% and deposits increasing by 2%. TSB also maintained strong asset quality, with non-performing loans at just 0.5%, below the industry average of 0.7%. Chair Mark Darrow says the results reflect the Bank's focus on simplifying operations to pave the way for accelerated investment in digital capability. 'TSB is now in a strong position to evolve into a digital-first bank that delivers on the expectations of modern consumers and businesses, while staying true to our customer-first values and high-quality service,' Darrow says. 'We're laying the foundations for long-term growth by investing in the right technologies, talent and tools. Our goal is to build a bank that earns trust through great service today and innovation for tomorrow - and to do so in a way that reflects our deep community roots.' Chief Executive Officer Kerry Boielle says TSB's progress is a testament to the hard mahi of our people and our ongoing commitment to delivering more for our customers and communities. 'We've made great progress this year in strengthening our systems and products, so in the year ahead, people can expect TSB to step up and offer more for everyday New Zealanders and small to medium sized businesses. 'With our community background we know we can provide a fantastic level of care in this space, so that's where we're focused on improving our offering.' TSB was named Canstar's Bank of the Year for Credit Cards for the third consecutive year in 2025 - recognition of its focus on delivering customer value. The Bank also continued to invest in customer protection, enhancing fraud prevention systems including rolling out Confirmation of Payee. Looking ahead, Boielle says regulatory reform is needed to support improved competition and innovation across the sector. 'While regulation is essential to a safe banking system, some requirements are disproportionate and hinder innovation. 'We're calling on policymakers to introduce true proportionality in banking legislation so that New Zealand-owned banks like TSB can invest more rapidly in the products and services our customers need.' With TSB celebrating its 175th anniversary in 2025, Darrow says the Bank is focused on future growth. 'We're incredibly proud of our legacy and excited about what lies ahead. Our ambition is to become New Zealand's digital bank of choice – one that continues to put people first for generations to come.'
Yahoo
19-06-2025
- Business
- Yahoo
Natwest top pick to acquire TSB
British banking juggernaut Natwest Group has been pegged as the 'most likely acquirer' of TSB Bank. Natwest returned to private ownership last month, ending a nearly two-decade-long banking saga and setting the lender up for a deals spree. The bank has purchased over £5bn worth of shares from the Treasury as part of its directed buyback program in the last four years, which now frees up bundles of capital for the lender. 'We think that this transaction makes the most sense for Natwest,' RBC analysts Pablo de la Torre Cuevas and Benjamin Toms said. 'Management has been the most open around potential merger and acquisition.' Analysts said a sales transaction could reach £2.6bn, which would 'not require Natwest to raise capital'. Cuevas and Toms said the takeover would help Natwest 'participate in UK consolidation, whilst increasing its market share in mortgages, where the bank is currently under weight.' TSB Bank's owners, Banco Sabadell, confirmed they had received expressions of interest over a potential takeover of their UK unit on Monday. Sabadell said it 'will assess any potential binding offer it may receive'. TSB was previously owned by Lloyds Banking Group and was acquired by Sabadell in 2015 for £1.7bn. Lloyds could be out of the running for a takeover due to 'market share concerns'. The Competition and Markets Authority (CMA) assesses merger and acquisition deals to ensure they don't substantially lessen competition. Lloyds, as the largest retail bank in the UK, may face scrutiny that a takeover could make it too dominant. But analysts noted the government's ousting of Marcus Bokkerink, former head of the CMA, could 'help facilitate UK deals, meaning that even Lloyds could kick the tyres on TSB.' Analysts said Natwest could afford the takeover through a £1.1bn reduction to buybacks and a marginal hit to its CET1 ratio, which indicates how well-capitalised and more likely to withstand financial stress. Natwest booked £1.8bn in pre-tax profit for the first quarter of the year, surpassing the £1.6bn pencilled in by analysts. A potential takeover would follow an £11bn bid by the group for Santander UK's retail arm earlier this year, according to reports from the Financial Times. Talks between the two lenders are no longer active, but should the takeover have gone ahead, it would have birthed the biggest banking deal since the financial crisis. The bank kicked off its shopping spree last year after snapping up the majority of Sainsbury's banking assets and purchasing Metro Bank's £2.5bn residential mortgages portfolio. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-05-2025
- Yahoo
Fancy a curry? 5 of the best Indian restaurants in Bolton
Bolton has a variety of restaurants to choose from but if you're looking for the best Indian restaurants, you've come to the right place. Whether you can hack a vindaloo or you'd rather play it safe with a korma, there are lots of options in the town. If you're unsure where to enjoy a curry next, here are five of the best Indian restaurants in Bolton, according to Google Reviews. All restaurants listed here have at least a 4-star rating from reviews. Location: Behind TSB Bank, 59 Deansgate, Market Street, Bolton, BL1 1HQ Google Reviews rating: 4.8 One reviewer said: 'Me and my partner try to come here atleast once a month sometimes more. The quality of food and value for money is spot on. On more than one occasion we've been moved to a bigger accommodate the amount we order and every plate goes back clean Staff are always very polite and wait times are minimal. Have personally recommended this place to everyone I speak to about food'. On Tripadvisor, the restaurant is praised by customers and has a 4.7 rating from 26 reviews. One said: 'Second time I've visited Mr Chaat, and I just love this place. Very helpful and friendly staff and a good menu. I just popped in for lunch today and chose the Samosa Chaat. I asked for extra spicy, and it was fabulous. Also had Masala Chai. Great food, cooked to order and at a very reasonable price. What's not to love.' Location: Nelson Square, Bolton, BL1 1JN Google Reviews rating: 4.8 This person shared: 'Had an amazing meal last night. We asked the waiter to recommend some dishes for us and he didn't let us down! The sweetcorn dish was absolutely delicious. Never tasted anything like it! The chef came out to see how we enjoyed the meal. He invented that dish and is obviously very proud of it and rightly so! I highly recommend this place, we'll be back!' Another commented: 'Just eaten here and wow what a fantastic restaurant this is! My waiter Nandu was most charming as he waited on me during my visit. I had paratha, poppodums and a coconut scrumptious! Great vibes with trendy lighting where the ambiance was spot on. Can't wait to dine here again! Thank you team for your great service.' Location: 114 Bradshaw Brow, Bolton, BL2 3DD Google Reviews rating: 4.8 A customer shared their experience: 'First time trying this takeaway after a day of research on Google. 'Ordered a set meal for three. Highly recommend!! Good value for money. Staff are friendly too xxx'. This person commented: 'Excellent takeaway accommodating staff and brilliant food'. Location: 362 Blackburn Road, Astley Bridge, Bolton, BL1 8NE Google Reviews rating: 4.7 One person said: 'It's a great place, nice and tidy, The food tastes delicious, especially fish pakora, lamb chops full of flavour, fresh and juicy, large mix grill very tasty, naan bread with fresh garlic -amazing, busy place but it means people love this food, recommend and Definitely I'll back again'. This customer said: 'Tasty dishes, very busy, good service, clean and tidy. Lamb chops are really juicy as fish pakora are on another level.' Recommended reading: Cosiest pubs to enjoy in Bolton as recommended by readers M6 service station that's 'a real gem' with a farm shop and 'high quality food' Hygiene ratings for all McDonald's restaurants in Bolton Location: 215 Manchester Rd, Kearsley, Bolton, BL4 8QL Google Reviews rating: 4.7 A customer said: 'Absolutely superb food, not your usual run of the mill stockpot curries. So much definition and uniqueness in each dish. Plenty of traditional dishes to choose from plus an array of unusual specials to try. Won't be out last visit that's for sure. Don't hesitate to try this place.' This person commented: 'If you are thinking of trying here don't hesitate. The food was amazing and reasonably priced. Service was spot on and menu choices were comprehensive. Kingfisher, cobra, and other beverages available. All very fresh and curry sauce not oily. Will be back as couldn't fault it.'
Business Mayor
22-04-2025
- Business
- Business Mayor
TSB Bank to close 5 more branches in May – full list of locations
TSB Bank will close five more branches across the UK next month as the shift to online banking continues. The shuttered branches will join the bank's wider list of at least 11 to close in 2025. This move forms part of a broader trend, with thousands of branches already closed in recent years. According to consumer group Which?, more than 6,300 bank and building society branches have closed since January 2015, equating to 53 closures on average every month. A statement from TSB reads: 'The way customers choose to bank with us is changing. Over 95% of transactions are now being made using mobile, online and other ways to bank, instead of in our branches. More customers than ever are using our video and telephone banking service.' Charities are urging greater protection for in-person banking services, warning that older and vulnerable people risk being left behind in the digital shift. Research by Age UK shows that over four million older Britons with bank accounts do not manage their finances online. Caroline Abrahams, charity director at Age UK, said: 'We applaud the banks for coming together to set up shared Hubs, but it's important that alternative services are set up speedily, especially in those areas with the greatest need. 'Physical spaces – whether a bank or building society branch, Banking Hub, or alternative suitable provision – must continue to exist so people can still carry out face-to-face tasks, such as withdrawing and depositing cash, applying for a loan, arranging third party access to their account or starting bereavement proceedings. Read More HMRC warning for anyone who had a baby in the 1980s or 1990s 'The disappearance of face-to-face banking risks cutting a significant minority of the older population out of an essential service, making it difficult if not impossible for them to manage their money and maintain their independence.' Hundreds of 'Banking Hubs' have been launched to fill the void left by high street bank branch closures, giving customers access to cash and services no matter who they bank with. People can find their closest location here. READ SOURCE
Yahoo
22-02-2025
- Business
- Yahoo
Plasterboard collapses on to shops in town centre
A cordon is in place at a shopping centre after plasterboard collapsed on to a row of shops. Shoppers at The Parade in Swindon were being urged to "take extra care" after large amounts of debris fell outside TSB Bank and Second Cup Coffee. Swindon Borough Council said it was working to make the area safe. "Our team is on site to make the area safe while we await some additional support to clear the debris," the council said. Follow BBC Wiltshire on Facebook, X and Instagram. Send your story ideas to us on email or via WhatsApp on 0800 313 4630. Swindon Borough Council
