TSB Bank PLC
Registered name: TSB BANK PLC
Part of Banco Santander, S.A groupTSB Bank PLC made £1.2bn revenue and £251m profit in the year to 31 Dec 2025.
TSB Bank PLC’s revenue grew 3% to £1.2bn in the year to 31 Dec 2025, with £251m profit and 4,733 employees. The company is classified under “banks” and is based in Edinburgh; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- Edinburgh, Scotland
- Age
- 41 yrs · since 1985
- Type
- Public Limited Company
Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2023 | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £1.2bn | £1.1bn | £1.2bn |
| Operating profit | £304m | £315m | £386m |
| Profit before tax | £236m | £285m | £339m |
| Profit after tax | £173m | £204m | £251m |
| Profit (best available) | £173m | £204m | £251m |
| Employees (average) | 5,568 | 5,047 | 4,733 |
| Ratios | |||
| Profit margin | 15% | 17.9% | 21.4% |
| Revenue per employee | £208k | £225k | £248k |
| Profit per employee | £31.1k | £40.4k | £53.1k |
| Growth (year on year) | |||
| Revenue growth | — | ▼1.7% | ▲3.1% |
| Profit growth | — | ▲17.5% | ▲23.2% |
| Headcount growth | — | ▼9.4% | ▼6.2% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Feb 2025 | Accounts · bulk data Feb 2025 | Accounts · bulk data Feb 2026 |
How the business works
- Profit margin
- 21.4%
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £248k
- Revenue ÷ average employees.
- Profit per employee
- £53.1k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- ▼6%
- Now 4,733
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Banco Santander, S.A (registered outside the UK register)ultimate parent75–100%
- Santander UK Group Holdings PLC75–100%
- Santander UK PLC75–100%
- TSB Banking Group Limited75–100%
- TSB Bank PLCthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- TSB Covered Bonds LLPFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Dec 2025 (profit £251m), from the Companies House accounts bulk data published Feb 2026. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.