CEO of Sabadell ‘open to selling off’ TSB Bank unit

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The boss of Sabadell had to clarify that, although he was open to selling TSB, there's no deal in the works

The chief executive of TSB Bank’s Spanish owner Sabadell said it was open to selling off the UK high street bank if the right offer came along.

Chief executive Cesar Gonzalez-Bueno said Sabadell would continue to hold on to TSB for now.

There aren’t any offers on the table, the bank boss said.

“We are not longer forced to sell (…) If at some point there is a (potential) buyer interested at a later stage, we are open to it, now we don’t even want to hear about it,” Gonzalez-Bueno said during an event held in Barcelona.

In April TSB said it planned to launch 43 ‘pop-up’ bank services across the UK after announcing plans to axe more than a third of its branches.

In its last full set of results earlier this year TSB posted a statutory loss before tax was £204.6m in 2020, compared to a £46m profit in 2019.