Coventry Building Society

The Co-operative Bank brand could disappear from UK high streets amid its acquisition by Coventry Building Society for £780 million.

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

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. 

Coventry Building Society has released a statement which admits the society's exaggeration of its financial strength for the last 11 years due to a calculation error. The building society issued a capital update last night which corrected the company's calculation of risk-weighted assets.