It seems that both TSB and Sabadell have downplayed the extent of the issue which is not fully resolved yet. The remediation costs will be significantly higher than former guidance, albeit remaining limited from a valuation standpoint. A major risk lies in the potential long-lasting harm to the franchise and the regulatory bodies wanting to set an example.
07 Jun 2018
TSB’s IT troubles not fully resolved yet
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TSB’s IT troubles not fully resolved yet
Banco de Sabadell SA (SAB:WBO) | 0 0 0.8% | Mkt Cap: 10,227m
- Published:
07 Jun 2018 -
Author:
David Grinsztajn -
Pages:
2
It seems that both TSB and Sabadell have downplayed the extent of the issue which is not fully resolved yet. The remediation costs will be significantly higher than former guidance, albeit remaining limited from a valuation standpoint. A major risk lies in the potential long-lasting harm to the franchise and the regulatory bodies wanting to set an example.