Bankers at TSB and Santander UK are at risk of having their annual bonuses slashed after the high street lenders were hit with multimillion-pound fines by the City regulator last month.
The retail banks’ respective pay committees are currently deliberating how much money to allocate to staff-wide bonus pools, and are understood to be taking penalties related to failings around TSB’s IT meltdown in 2018, and Santander UK’s anti-money laundering controls, into account.
