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The Co-operative Bank p.l.c. [1] is a British retail and commercial bank based in Manchester, England. Established as a bank for co-operators and co-operatives following the principles of the Rochdale Pioneers, the business evolved in the 20th century into a mid-sized British high street bank, operating throughout the UK mainland. Transactions ...
On 21 January 2009, Co-operative Financial Services and Britannia Building Society proposed a merger, with the new "super-mutual" being brought under the stewardship of The Co-operative Group. [4] On 29 April 2009 the merger, the first under the so-called Butterfill Act , was agreed by Britannia members.
The Co-operative Bank head office building at 1 Balloon Street, Manchester, England. The Co-operative Bank severed its ownership link with the Co-operative Group in September 2017. The bank had been a wholly owned subsidiary until 2014 when the group was forced to sell the majority of its holding to US hedge fund investors to raise funds for ...
The two groups have been in discussions over a possible merger for several months. Coventry Building Society agrees potential takeover of Co-op Bank for £780m Skip to main content
The Co-operative Bank: Website: Official website: ... This latter merger led to a further reduction in the society's name to the Coventry Building Society. Assets ...
[13] [14] On 29 April 2009, Britannia members voted overwhelmingly to become part of Co-operative Financial Services, the first such merger between different types of mutual under the Butterfill Act. [15] [16] [17] CFS, which incorporated the Co-operative Bank and Co-operative Insurance Society, was itself a subsidiary of the Co-operative Group ...
Date. Acquiring bank. Acquired bank. Purchase price. Sept. 30, 1998. Bank of America. NationsBank. $62 billion. July 1, 2004. J.P. Morgan Chase. Bank One. $58 billion
In 2009, following its merger with Britannia Building Society, [6] Flowers was appointed non-executive chairman of the Co-operative Bank. On 26 March 2010 he was appointed non-executive chairman of Co-operative Financial Services; the holding company for both the Co-operative Bank and the Co-operative Insurance Society. [23]