Finance Breaking news Sabadell looks to offload TSB as BBVA merger falls through last financial news
Breaking-Finance.Com - Spanish bank Banco Sabadell is considering the sale of its troublesome UK unit TSB Bank, following the collapse of merger talks with BBVA.
Breaking-Finance.Com - Spanish bank Banco Sabadell is considering the sale of its troublesome UK unit TSB Bank, following the collapse of merger talks with BBVA. Sabadell says it intends to launch a new strategy that will prioritise is Spanish domestic business after its ended talks with BBVA over an agreed price.A merger between the two banks was on the cards after BBVA sold off its US banking business to PNC earlier this month.Sabadell says it will also analyse "strategic alternatives for creating shareholder value with regard to the Group's international assets, including TSB".
.TSB has since separated its computer systems from Sabadell, creating an opportunity for a relatively clean break should the business find a buyer.The news comes as TSB suffers its second outage in as many months, with the bank's Website crashing overnight and intermittent problems continuing into the morning on the busiest online shopping day of the year.At the end of October its mobile and Internet services failed to load, leaving some customers unable to access accounts on payday.
Source = Breaking-Finance.ComFinancial breaking news