Co-op Bank

Money, investing, mutuals etc
planteria
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Co-op Bank

Post by planteria » Mon Jun 26, 2017 8:34 am

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Re: Co-op Bank

Post by pabenny » Mon Jun 26, 2017 9:15 am

Hardly surprising. Who would want to take on an ailing bank with (presumably) old systems and a branch network (the former Britannia BS branches).
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Re: Co-op Bank

Post by planteria » Mon Jun 26, 2017 10:20 am

they've pruned the branches in the Midlands quite hard

fwiw i think it's good for another player to remain in the market.

it's only part owned by our Co-op now though, unfortunately :think:
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Re: Co-op Bank

Post by pabenny » Mon Jun 26, 2017 6:38 pm

Plenty of new challenger banks (Metro, Shawbrook) launched or on the way without the millstones of the past.
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Re: Co-op Bank

Post by planteria » Tue Jun 27, 2017 10:39 am

fair point. but i'd rather they're in addition to the Co-op rather than instead of it.
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Re: Co-op Bank

Post by Constantine » Tue Jun 27, 2017 2:53 pm

To be honest, the sale of Co-Op Bank was never a realistic prospect. The only question was whether the existing investors (the hedge funds etc that own 80% having bailed it out last time) were going to decide (a) that it was worthwhile putting some more money in to keep it going, or (b) decide to let it go into 'resolution' and (presumably) take a loss.

I'd guess they have picked option a.
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Re: Co-op Bank

Post by planteria » Wed Jun 28, 2017 12:37 pm

the Co-op only own 1% of Co-op Bank now :problem:
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Re: Co-op Bank

Post by planteria » Thu Sep 21, 2017 8:04 am

and now that 1% has gone too..
http://www.bbc.co.uk/news/business-41344946
a sad farce :think:.
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Re: Co-op Bank

Post by macliam » Thu Sep 21, 2017 12:02 pm

Sad indeed. How long will the "ethical" policy remain now?

I joined Smile when it was created because I always wanted to use the Coop bank, but the logistics didn't work for me.

I moved from Smile last month because the faceless few had already wrested 80% control and the writing was on the wall.

Sad.
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Re: Co-op Bank

Post by Constantine » Thu Sep 21, 2017 4:10 pm

What surprises me is that Co-Op got 5 million for their last 1%.

I'd have offered them a tenner,:)
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