Co-Operative Bank

Coventry Building Society has reached an agreement for a potential acquisition of The Co-operative Bank. The deal, valued at up to £780 million, follows exclusive talks between the two entities since mid-December. Pending definitive agreements, the acquisition is poised to reshape both institu

The Co-operative Bank has announced that it will be cutting 350 jobs and close 18 branches in England.  The lender has pointed to the current economic uncertainty and the increasing shift towards online banking as the reason for the cuts. 

Nationwide, Coventry Building Society and Co-operative Bank have returned to offering mortgages on small deposits thanks to the introduction of the stamp duty holiday announced by chancellor Rishi Sunak last week. 

The Co-operative Bank has been hit with a bill of £118.6 million for the mis-selling of payment protection insurance (PPI). The PPI compensation payments pulled the bank further into debt, as it fell to £118.6m for the three months to September 30th, compared with an £87m loss a ye