There could be a long wait until fixes to TSB’s IT systems are fully complete, according to the bank’s new chief executive.

In a presentation seen by The Sunday Times, TSB chief executive Debbie Crosbie is reported to have said: “By the end of 2019, we’ve got over 400 fixes going in, so it’s really important that we get them behind us.”

Crosbie, who has served as chief executive at TSB since May this year, told staff that although the bank has made “a lot of progress” in fixing its IT infrastructure after last year’s meltdown, there are still a “number of things to fix”.

Following the resignation of CEO Paul Pester in September 2018, Crosbie has faced a significant challenge in restoring the bank’s reputation following a high-profile technical fiasco.

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Pester found himself in hot water amid claims that he misled MPs investigating the matter. While he denied misleading a parliamentary inquiry, a report published by IBM at the time appeared to contradict statements he gave to MPs.

The financial Conduct Authority (FCA) launched a formal investigation in June last year, which is still ongoing.

Nearly two million customers were locked out of their accounts in April 2018, with some reporting they even had access to other customers’ accounts. The meltdown occurred during the migration of customer records from the Lloyds Banking Group platform to the Sabadell Proteo platform.

TSB separated from Lloyds in 2011 and was acquired by the Spanish banking giant Sabadell in 2015. The IT meltdown cost TSB more than £300 million last year.

Following last year’s issues, Crosbie insisted that the bank only had “one major incident” in the past quarter, marking a move toward greater stability at the institutions. However, IT defects have still taken a significant toll on branches across the UK, with staff in Glasgow contending with sluggish systems “three Mondays in a row”.