Coventry takes Co-op Bank for £780m returning it to mutual ownership after more than a decade Coventry Building Society has completed its £780million takeover of The Co-operative Bank, returning it to mutual ownership after more than a decade.
Mutual ownership: Coventry Building Society has completed its £780m takeover of The Co-operative Bank.
Co-op Bank has 50 branches and will expand Coventry’s footprint outside the Midlands and south of England, into areas such as London and the North.
Coventry says that as it will take ‘several years’ to offer a joined-up service, Co-op Bank will operate separately for now.
‘We’ll use our combined experience of almost 300 years to do more of the things that matter,’ said Coventry chief executive Steve Hughes.
