Media House International Ltd
Search Media House InternationalFollow Media House International on TwitterFollow Media House International on LinkedIn
Media House International

The MHI team are working as normal during the global pandemic and can be contacted by email or mobile.

  • Jack Irvine:+44 (0) 7860 457456
  • Ramsay Smith: + 44 (0) 7788 414856
  • Gary McQueen:+ 44 (0) 7834 694609
  • Lorna Gardner: + 44 (0) 7813 193618
  • Ibrahim Khalil:+ 44 (0) 7943 759 042
  • Caroline Middleton Gordon: + 44 (0) 7759 258844
  • Rebecca Durnin: + 44 (0) 7801 821556
  • Felix Arbenz-Caines:+ 44 (0) 7979 046 378
  • Kristine Baekgaard:+ 44 (0) 7367 616211
Scottish firms receive over £2 billions of support from UK Government schemes
UK Government schemes to support businesses recovering from coronavirus have paid out £2 billion... more >
CBI Scotland outlines six point plan for business to help deal with local lockdowns
CBI Scotland has set out a six step plan for help businesses following the... more >
Tourism businesses urged to target UK and Germany in lockdown recovery
Scottish tourism businesses should target people from the UK and Germany as they try... more >
Caledonia Housing awarded £1 million contract to provide council care service
Caledonia Housing Association have won the rights to continue provide their Care & Repair... more >
Profit warnings for listed oil and gas businesses already above 2019 levels
There was more profit warnings issued in the second quarter of this year by... more >

TSB feels strain of pandemic with loss and increase in lending

TSB saw total customer lending rise to £31.3 billion as they became the latest bank to feel the effects of the COVID-19 pandemic.

The group saw total impairment charges increase by £87.5 million in the first half of the year, reflecting a significant weakening in the economic outlook, including higher forecast unemployment and house price declines.

Total income fell 12 per cent to £445.5 million on the same period last year, whilst pre-tax profit swung to a loss of £65.5 million.

Despite the several economic and market challenges facing the UK over the rest of 2020, the bank remains well positioned to weather the downturn, with a healthy liquidity reserves meaning they remain committed to delivering its strategic plan announced in November 2019.

Commenting on the results, Debbie Crosbie, TSB’s Chief Executive, said: “We had a strong start to the year, but the external environment changed significantly when Covid-19 struck. We’ve benefited hugely from the technology platform we now have in place at TSB, enabling us to accelerate our digital offer for customers when they needed us most.

“Despite the challenging context, our balance sheet and capital position remain strong, we have improved efficiency in our operations, and our purpose to help people increase their money confidence has never been more relevant.

“I’m particularly proud of how TSB colleagues have responded, learning new skills, taking on new responsibilities, demonstrating real resilience, and above all putting customers first – showing TSB at its best.”

TSB also continued its £12 million investment in IT during the lockdown period, filling 80 of the 100 positions at TSB’s new IT centre in Edinburgh during this period

Published in Insider -