TSB to bid for €1.8bn ‘zombie bank’ loans

TSB, which recently floated on the London Stock Exchange, is reportedly planning to bid for £1.4bn (€1.8bn) worth of British state-owned mortgages.

TSB is interested in acquiring the residential loan book of UK Asset Resolution, a so-called “zombie bank” that is winding down the loans of Northern Rock and Bradford & Bingley.

Both building societies were nationalised in the run-up to the 2008 financial crisis.