Co-op takes £126m knock from cyber attack as boss quits Retail Retailer Co-op has slumped to a £126m loss as it reels from the cyber attack which cost the firm nearly £300m last year, as its chief executive quit. The grocery chain is preparing to slash costs in the coming year, as it plans to cut £200m of spending in 2026. Co-op’s cyber attack in April [...]
Five top paying savings accounts – earn up to 7.5 per cent Money Savings accounts are staging a fiery comeback as UK providers battle to attract customers. With the cost-of-living still rumbling on and interest rates beginning to shift, there’s prime opportunities to put money to work. A number of top accounts have upped rates in recent months – some over seven per cent – helping in a [...]
Just started a business? How to pick the right business account Personal Finance So you’ve decided to take the leap and set up your own business. Once you’ve fine-tuned your idea, it’s time to think about logistics – how do you pick the right business bank account for you? Do I need a business bank account? Business bank accounts are legally required for those looking to set up [...]
Co-op Bank mortgage applications soar following takeover March 7, 2025 Mortgage applications boomed at Coventry Building Society’s new subsidiary, The Co-op Bank, in its first batch of financial results since the acquisition. The bank recorded £116.2m in pre-tax profit for 2024, down from the £120.9m booked in 2023 but in line with company expectations. It said lower mortgage margins and increased savings rates weighed on net interest income, dampening [...]
Coventry Building Society to take over Co-op Bank in January November 28, 2024 Regulators have given the green light for Coventry Building Society to acquire The Co-operative Bank in January as consolidation sweeps through Britain’s mid-sized banking sector. The two lenders said on Thursday that the Financial Conduct Authority and Bank of England’s Prudential Regulation Authority had approved the £780m deal, which was agreed in May. The takeover [...]
Co-op Bank unveils £90m dividend ahead of Coventry sale November 26, 2024 The Co-operative Bank is to pay out £90m to investors after reporting lending growth in the third quarter, ahead of a £780m tie-up with Coventry Building Society.