Co-op looks to funeral arm in hunt for turnaround from cyber-attack Retail Co-op posted a jump in turnover at its funeral arm, as the member-owned group said it is setting out the foundations to recover from a costly cyber-attack last year. Kate Allum, interim chief executive of the food-to-insurance firm, said the group is facing a “year of two halves” and will see its turnaround plan deliver [...]
Coventry Building Society to take over Co-op Bank in January Banking 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 Banking 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.
‘I’m £5,000 down’: Co-op Bank apologises after duplicate payments glitch June 12, 2024 The Co-operative Bank has apologised to customers after complaints that a glitch had caused payments to be taken twice from some small business accounts.
Coventry Building Society and Co-op Bank £780m tie-up confirmed May 24, 2024 The combined group will be led by David Thorburn as Chairman and Steve Hughes as Chief Executive Officer.
Co-op Bank says transformation plan ‘materially complete’ ahead of agreed £780m Coventry merger May 2, 2024 The Co-operative Bank has said its multi-year transformation plan is "materially complete" as the lender progresses with an agreed £780m takeover by Coventry Building Society.
Takeover bids, millionaire CEOs and angry members: Building societies are looking a lot like the big banks May 1, 2024 Runaway profits, big-ticket acquisitions and bumper executive pay rises, Britain's building societies are starting to look a lot like banks.
Coventry Building Society sees profit boost from rate hikes as Co-op Bank merger talks continue February 29, 2024 Higher interest rates have boosted Coventry Building Society's annual profits as the lender continues to negotiate a potential merger with the Co-op Bank.
Profit slips at the Co-op Bank as Coventry Building Society continues to circle February 28, 2024 Despite seeing an increase in net interest income, thanks to higher interest rates, the bank saw costs increase significantly which dented its bottom line.