A far higher proportion of complaints made against TSB Bank PLC in the second half of 2018 were resolved in favor of customers than those made against other large U.K. banks, new figures show.
TSB, which endured a costly botched IT migration in April 2018, received 5,764 new complaints during the period, of which 89% were resolved by the Financial Ombudsman Service in favor of customers.
The bank, which is owned by Spain's Banco de Sabadell SA, experienced technical issues when it transferred 1.3 billion customer records to a new banking platform from the legacy IT systems of former parent Lloyds Banking Group PLC. The fiasco led to numerous customer complaints, badly denting the TSB brand.
Bank of Scotland PLC and Lloyds Bank PLC were the most complained-about banks during the period, with the ombudsman receiving 19,538 and 15,848 cases, respectively, against them. However, only 14% and 16%, respectively, were resolved in the customers' favor.
Prudential Assurance Co. Ltd. received the most complaints among large U.K. insurers, with 309 in total, 12% of which were resolved in favor of consumers.
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