Agreement for sale of TSB

TSB Bank PLC
02 July 2025
 

TSB Bank PLC

2 July 2025

 

Banco Sabadell announced on 1 July that an agreement has been reached to sell TSB to Santander Group for an eventual sale price of £2.9 billion, subject to shareholder and regulatory approval.

 

The press release from Sabadell is here and the market announcement is here.

 

Marc Armengol, TSB CEO, said:

 

"TSB is a truly special bank, run by a first-class team that deliver trusted service and support for customers, day in and day out. Today's announcement represents the next exciting chapter for this successful business, as part of Santander, a highly regarded banking group. I believe this will prove to be an excellent fit for our loyal customers."

 

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