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SEP 12, 2013 - New Statesman

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TSB to receive £240m boost from Lloyds

The banking group reaches agreement with HM Treasury.TSB will receive £240m from the Lloyds Banking Group to improve its profits by £200m in aggregate over the next four years. The group, which accepted the Office of Fair Trading’s principal recommendation, has reached an agreement with Her Majesty’s Treasury (HM Treasury) yesterday. Under the agreement, the group will transfer the economic benefit of a portfolio of residential mortgages of approximately £4bn together with the associated capital, as well as provide business and IT services to TSB. In addition, ... Read More

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