Tsb Bank Plc — TSB Banking Business Transfer to Santander UK

(LSE:92ZV) TSB Bank plc and Santander UK have jointly applied to the High Court on 30 October 2026 for approval of a Section 111 Part VII banking business transfer scheme. The scheme proposes to transfer substantially all of TSB’s business, excluding certain assets and liabilities, to Santander UK. The High Court hearing to consider the scheme is scheduled for 15 February 2027. If the Court sanctions the scheme, the transfer is proposed to take effect on 22 March 2027. Scheme documents are available on TSB’s website for review by affected parties. Affected parties have the right to object to the scheme. TSB will submit a summary of any objections received to the Court, the Prudential Regulation Authority, and the Financial Conduct Authority. The process is subject to Court approval and regulatory oversight. The announcement provides the timeline and procedural steps for the proposed transfer. The scheme excludes certain assets and liabilities from the transfer. The Prudential Regulation Authority and the Financial Conduct Authority are involved as regulatory bodies in the process. The announcement outlines the opportunity for affected parties to participate in the process by submitting objections. The transfer is contingent on the Court’s sanction at the scheduled hearing.