TSB lending growth fuelled by mortgages

Mortgage Introducer

July 29, 2021

TSB saw customer lending increase by £2.2bn over the first half of 2021 with growth driven by mortgages.

The Bank’s interim results revealed a 6.6% growth in total lending to £35.5bn.

Statutory profit before tax stood at £42.9m, compared to a pre-tax loss of £65.5m in H1 2020 and a pre-tax profit of £21.1m in H1 2019.

Debbie Crosbie, TSB’s Chief Executive, said: “These results show a significant improvement on last year and demonstrate the impact of our Money Confidence purpose in delivering for our customers.

“With a relentless focus on what our customers want and innovating to serve them better, we have grown our balance sheet and increased income, while reducing operating costs further.

“I want to thank everyone at TSB for their efforts in supporting our customers and communities, helping them feel more money confident and in driving TSB’s wider contribution in the first half of the year.”

TSB planted over 16,000 trees in H1 to offset every house move involving a TSB mortgage.

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