TSB suffered a $137,66m (£105.4m) loss and had to pay customer compensation and fraud costs of around $163m (£125m).

The IT outage is estimated to cost a total of $431.3m(£330.2m) with $199.8m (£153m) of the total being covered by computer provider Sabis.

The  major outage left customers without service for weeks and resulted in Paul Pester stepping down from his position as CEO of the company.

Source: ITProPortal