TSB swung to a loss in the first six months of the financial year after taking a big hit from loans it expects to go bad, as coronavirus causes waves in the economy. It pushed TSB to a pre-tax loss of £65.5 million for the half, a year after making a £21.1 million profit. Despite the challenging context, our balance sheet and capital position remain strong Debbie CrosbieTSB highlighted the slow housing market and rising unemployment as two major threats. Expand Close TSB online problems (Andrew Matthews/PA) PA / FacebookTwitterEmailWhatsapp TSB online problems (Andrew Matthews/PA)Chief executive Debbie Crosbie said: “We had a strong start to the year, but the external environment changed significantly when Covid-19 struck. “I’m particularly proud of how TSB colleagues have responded, learning new skills, taking on new responsibilities, demonstrating real resilience, and above all putting customers first – showing TSB at its best.”PA Media

Source: Irish Independent July 31, 2020 10:18 UTC