Coventry Building Society acquires Co-operative Bank in a £780m deal, creating a mutual banking group with £89bn in assets.
Coventry Building Society has finalised its £780m deal to acquire Co-operative Bank, creating a banking group with £89bn in assets and millions of customers. The merger will return Co-op Bank to a mutual structure, where it is owned by individual members rather than shareholders and investors, unlike most UK banks. The deal is expected to complete in early 2025, with both organisations retaining their separate brands during the integration period.
May 24, 2024
24 Articles