High street lender TSB has revealed that profits dropped by almost a quarter for the past half-year due to weakness in the mortgage market. The firm, which is part of Spain’s Banco Sabadell, reported a pre-tax profit of £111.6 million for the six months to June, down 24.5% against the same period a year earlier.
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00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post. Here
00:06are your headlines for this morning. The high street lender TSB has revealed that profits
00:12dropped by almost a quarter in the past half year due to weakness in the mortgage market.
00:19The firm, which is part of Spain's Banco Sabadell, reported a pre-tax profit of £111.6 million
00:27for the six months to June, down 24.5% against the same period a year earlier. TSB said this
00:35was due to lower income, which fell by 6.1% to £548.7 million for the half year. So update
00:44this morning from the high street lender TSB, which has revealed that profits dropped by
00:49almost a quarter for the past half year. My name is Greg Wright. I'm the Deputy Business
00:54Editor of the Yorkshire Post.