Credit Strategy
LinkedIn
Twitter
0 £0.00
This item was added to your basket

Dear visitor,
You are viewing 1 of your 2 free articles


To view more free articles, please register

Free registration or Login

Co-op Bank up for sale amid "significant loss"

The Co-operative Bank has today (February 13) announced it has put itself up for sale.


Amber-Ainsley   Pritchard

Share on Twitter Linkedin black
Amber-Ainsley   Pritchard
Share on Twitter Linkedin black

It said this is based on the bank’s constrained capacity to generate income as a result of lower than expected interest rates.

 

The bank’s board is looking for buyers for 100 percent of the shares in the bank and said interested parties do not have to publicly identify themselves.

 

It also said it is considering ways to raise equity capital from existing and new capital providers and a potential liability management exercise of its outstanding public debt.

 

The board of the Co-operative Bank said it has engaged Bank of America Merrill Lynch and UBS Investment Bank for these activities and will continue to engage and consult with the bank’s shareholders.

 

In a statement the Co-operative Bank said it expects to report a significant loss for the year ending December 31 2016.

 

Liam Coleman, chief executive of the Co-operative Bank, said there is considerable potential to build the bank’s retail franchise further.

Share on Twitter Linkedin black
Add New Comment

YOU MIGHT ALSO LIKE

The CS Interview

The patriot

The patriot

Features

Ahead of the curve: Five reasons why Intelligent Environments secured the Best Collections Technology Award
Share on TwitterLinkedin black

Ahead of the curve: Five reasons why Intelligent Environments secured the Best Collections Technology Award

Opinion

"There are upcoming opportunities for both government and regulators to step up and deliver meaningful change"

"There are upcoming opportunities for both government and regulators to step up and deliver meaningful change"

Credit 500 - 2017/2018

Will you help to shape the next Credit 500?
Share on TwitterLinkedin black

Will you help to shape the next Credit 500?

Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group