The technological problems that affected thousands of customers brought an apology last April from TSB Sam Stephenson/AlamyThe IT debacle that left thousands of TSB customers unable to use their accounts for weeks has led to a £105 million loss at the bank. The problems have cost TSB £330 million so far to resolve, including the costs of compensation for customers and extra staff. The IT problem, one of the most severe to have hit the banking sector, is being investigated by the Financial Conduct Authority and led to the departure of Paul Pester as TSB chief executive in September. He will be replaced by Debbie Crosbie, a former senior executive at CYBG, in the spring. Mr Pester is due to be paid £801,030 this year in severance for loss of office.

Source: The Times February 01, 2019 09:00 UTC