Lloyds announces TSB flotation

A 25% stake in TSB is to be floated on the stock market next month, owner Lloyds Banking Group has announced.

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TSB has 'indemnity' against misconduct claims

TSB is protected against compensation claims by its parent company, the bank's chief executive Paul Pester says.

Misconduct claims for the missale of payment protection insurance (PPI) have cost the industry billions of pounds, according to estimates from the Financial Conduct Authority.

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