A MAJOR bank with five million customers has been officially sold to a Spanish rival.
TSB is set to be taken over by Spanish banking giant Santander after shareholders approved a £2.65billion deal.
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The sale, approved by TSB’s Spanish owners Sabadell, is now waiting for regulatory approval.
And if it gets the go-ahead, it could spell the end of the TSB brand.
Sabadell agreed to sell its UK arm last month, saying the deal fits its plan to focus on growth in Spain, where it sees more opportunity.
The move is set to create the UK’s third largest bank by the number of personal current accounts.
The takeover is expected to be completed during the first three months of 2026.
