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City

Co-op Bank bolstered by higher interest rates as it hails turnaround progress

The Co-operative Bank has surpassed £100 million in profits after its turnaround plans gathered steam and higher mortgage rates boosted its margins. The once-flailing bank reported its seventh consecutive quarter of profits after being rescued by a ...

10 Nov 2022 at 14:20

City

Co-op Bank hails ‘landmark’ 2024 despite drop in earnings

The Co-operative Bank has revealed shrinking profits but hailed 2024 as a “landmark” year as it prepares to return to mutual ownership through its merger with Coventry Building Society. The banking group said it generated lower income and ...

26 Jul 2024 at 12:39

City

Co-op Bank and Coventry Building Society in exclusive talks over possible merger

The Co-operative Bank and Coventry Building Society have entered into talks over a possible merger of the two high street lenders. Co-op Bank told investors it had begun “exclusive discussions” with the building society in order to ...

21 Dec 2023 at 11:13

City

Co-op Bank exploring ‘strategic’ opportunities

The Co-operative Bank has revealed it is looking at “strategic opportunities” following a turnaround in recent years, amid reports that suitors are weighing up bids. The lender – which is no longer part of the wider Co-operative ...

08 Nov 2023 at 12:45

Former Co-op bank boss facing fraud charge suffers stroke

Former Co-op Bank boss Paul Flowers suffered a stroke the day before he was due in court accused of fraud by abusing his position, a judge has been told. Flowers was not present for the brief hearing at Manchester Magistrates’ ...

06 Sept 2023 at 11:28

City

Co-op Bank strikes £464m deal to buy Sainsbury’s Bank mortgage book

The Co-operative Bank has secured a £464 million deal to buy Sainsbury’s Bank’s mortgage portfolio. The move comes almost four years after Sainsbury’s said its banking operation would stop all new mortgage sales and it was ...

11 Aug 2023 at 15:23

City

Coventry Building Society sees yearly profit fall as mortgage costs ease

Coventry Building Society has reported a drop in its annual profits after seeing mortgage costs reduce, as it kicks off merging with The Co-operative Bank after buying the rival lender at the beginning of the year. The ...

07 Mar 2025 at 08:13

City

Co-op Bank’s profit rises fourfold as boss boasts rate rises for all savers

The boss of Co-operative Bank has said it has benefited from being more “nimble” than the UK’s big five banks as it reported soaring profits on the back of higher interest rates. Nick Slape, the group’s chief ...

01 Mar 2023 at 13:28

City

Co-op Bank buoyed by interest rate rises amid takeover speculation

The Co-operative Bank has reported a jump in income as the latest lender to be boosted by higher interest rates which have pushed up the cost of borrowing. The company said its net interest income – the ...

28 Apr 2023 at 12:00

Former Co-op Bank boss in court accused of fraud

Former Co-op Bank boss accused of £196k fraud

Former Co-op Bank boss Paul Flowers has appeared in court accused of a £68,000 fraud by abusing his position. Flowers, 73, made his first court appearance after two earlier hearings were aborted when ...

05 Oct 2023 at 09:56

City

Coventry Building Society confirms purchase of Co-op Bank in mega-deal

Coventry Building Society has finalised its £780 million deal to buy rival lender the Co-operative Bank, and confirmed it will not be giving its members a vote. The tie-up will create a banking ...

24 May 2024 at 12:12

Monzo rated as Britain’s top bank in survey of 36,000 people

JP Morgan’s Chase has become one of Britain’s top-rated consumer banks three years after launching while Monzo once again took top spot. Royal Bank of Scotland (RBS) was at the bottom of a key ...

15 Aug 2024 at 16:16

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