TSB will move off Lloyds Banking Group’s IT systems and on to its own this year, breaking the link which kept the bank a customer of a major rival and its former parent.

When the bank took over TSB, it agreed to support the charity set up by its new subsidiary. No longer. Stay up to date with notifications from The Independent.

TSB, which was launched as a separate strand by Lloyds in September, is expected to be valued at around £1.5bn. TSB cost Lloyds £172m in the ­quarter, including building it and dual running costs.

Lloyds TSB executives to dominate after merger on facebook ... Lloyds executive Carol Sergeant will be chief risk officer for the new bank and Chris Wiscarson will be group integration director.

Millions of Lloyds TSB customers will be transferred to its new TSB bank from next month, so MoneySavingExpert.com explains what this really means for you. From 9 September Lloyds TSB branches will be ...