TSB bad debts drop by pounds 227m to pounds 205m

Sir Nicholas Goodison, the chairman of TSB, yesterday revealed that reorganisation, mainly of the banking and insurance businesses, cost pounds 44m in the latest half-year, while another 1,100 jobs were lost. He said fewer jobs are to go in the second half. Since the start of 1990, TSB has shed 5,500 jobs. He also reported a sharp drop in bad debts, down pounds 227m on the second half of last year to pounds 205m, though pounds 40m higher than a year ago. The shares fell 3.5p to 194p.

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