TSB to return as UK 3rd national highstreet bank, float 2014

sabretoothtigger

TSB is only 1 of 3 banks with branches ranging from north Scotland to Cornwall. Lloyds will separate then eventually completely sell TSB into a competing FTSE listed bank

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10293489/Returning-TSB-vows-to-be-local-bank-benefiting-local-businesses.html


Sounds pretty massive to me in theory. Starting a thread to track its progress.
It may get snapped up for by some mega conglomerate but probably not as Lloyds had already offered it up privately for various bidders and none had the money or belief to buy



http://www.tsb.co.uk/

sabretoothtigger

The poll is private, post if you want to say if TSB will fail, succeed or be of no relevance to mortgages, banking, etc

(I own some Lloyds shares so Im biased but then so does HMG ergo the public)

Masomnia

I don't think it'll fail, but I think it'll be bought out at some stage.

I've got Lloyds shares too, so i have an interest. If the price is right I'll buy TSB shares next year, I like the idea of a boring income producing bank, steady dividends and the like.

grizzly1911

Having brought them once I am disinclined to buy them again.

I think many people would just like stable boring old banks back that return fair profits and dividends that keep pace with or anose ahead of inflation. Sadly I don't think this will happen.

If I were a Lloyds customer I would be closing my TSB account and going back to Lloyds or a competitor.

worried_jim

Your fourth option in the poll-"TSB will never operate separate from Lloyds, both will fail first" will be out of date at midnight, so there is only a very short time for this option.
As of tomorrow TSB is a separate bank and Lloyds will not be failing any time soon.
(biased member of Lloyds staff)- I can no longer have any contact with my colleagues in TSB, even those who I spoke to on a daily basis, it would be like trying to call up HSBC and ask them to about their day.

grizzly1911

worried_jim wrote: »

(biased member of Lloyds staff)- I can no longer have any contact with my colleagues in TSB, even those who I spoke to on a daily basis, it would be like trying to call up HSBC and ask them to about their day.

I can understand that you can't talk confidential intra business but are you seriously telling me they are dictating who you can socialise with, informally, out of hours?

The golf courses would be empty.

sabretoothtigger

One old company I used to work for, banned any personal relationship between employees outside of work.
Managers could be fired for it, they all seemed to ignore it though

Jim it sounds alot more advanced then I realised. Legally they may be separate, perhaps we should have always had each bank disjointed like this in event of failure, to help prevent total collapse.
Anyway I will call them separate when Lloyds has no financial benefit from TSB business, and may even curse their success.

Santander 'owns' their banks like this, Spanish failure in theory cant destroy the UK bank and vice versa though they could both suffer cash shortage simultaneously.
Lehmans USA and Lehmans UK was sort of separate but I presume it was face value only as they rolled over right away. I believe UK had no choice but to give all their cash to USA and it was never seen again so not comparable

Thats just the doom doom option for anyone thinking a market failure by year end. I guess TSB might survive that option if they really lack any sub prime, etc

grey_gym_sock

one has to assume that they've mostly put branches etc that they regard as duds in "TSB".

any extra competition in UK banking is welcome. i'd rather the big banks were split up into many smaller banks.

as for take-overs, it depends on the timescale. there has to be a good chance it will be taken over eventually.

atush

I am not voting in the poll as it is biased and doesn't cover all possible outcomes.

grey_gym_sock

yes, my vote is for "none of the above"

Thrugelmir

Given that TSB carries none of the HBOS legacy issues. In time it will provide useful competition in the UK domestic banking markets.

Probably more concerns over the long term future of Santander in the UK rather than the TSB.