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TSB Bank plc is a retail and commercial bank in the United Kingdom and a subsidiary of Sabadell Group
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TSB Bank plc is a retail and commercial bank in the United Kingdom and a subsidiary of Sabadell Group. TSB Bank operates a network of 536 branches across England, Scotland and Wales but has not had a presence in Northern Ireland since 1991. TSB in its present form launched on 9 September 2013. Its headquarters are located in Edinburgh and it has more than 5.2 million customers with over £20 billion of loans and customer deposits. The bank was formed from the existing business of Lloyds TSB Scotland plc, into which a number of Lloyds TSB branches in England and Wales and all branches of Cheltenham & Gloucester were transferred, and renamed TSB Bank plc. A European Commission ruling that the British government's 2009 purchase of a 43% stake in Lloyds Banking Group counted as state aid made it necessary for Lloyds Banking Group to sell a portion of its business; TSB was divested.