TSB Reports Record Profits Ahead of Santander Takeover
ByAinvest
Friday, Feb 6, 2026 7:44 am ET1min read
SAN--
TSB reported record annual profits of £350.4m for 2025, up 20.7% from the previous year, driven by cost cuts and a 3.6% rise in income. The bank also reduced operating expenses by 4.4% to £786m. Despite this, loans to customers fell 0.2% to £36.3bn, and customer deposits were broadly flat at £35.2bn. TSB's net interest margin rose from 2.68% in 2024 to 2.89% in 2025. The bank's CEO, Marc Armengol, will leave TSB ahead of its expected takeover by Santander.
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