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Co-operative Bank Hedge-Funders Looking to Sell
Legacy_user
Posts: 0 Newbie
The hedge-funders who own the Co-operative Bank are working with Goldman Sachs to court potential buyers. More information here. Lloyds Banking Group, RBS and Barclays are said to have been approached.
As a Co-operative Bank customer I am very interested in what you guys think might happen. Quite obviously it's all conjecture but is the Nationwide in the mood for expansion and maybe formalising an ethical policy? I'm wondering if the Co-operative Bank was purchased by one of the major players would the ethical policy be maintained and the bank remain a separate entity?
Thoughts most welcome!
As a Co-operative Bank customer I am very interested in what you guys think might happen. Quite obviously it's all conjecture but is the Nationwide in the mood for expansion and maybe formalising an ethical policy? I'm wondering if the Co-operative Bank was purchased by one of the major players would the ethical policy be maintained and the bank remain a separate entity?
Thoughts most welcome!
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Comments
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Why are you so obsessed with all things “ethical”?0
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What a very strange comment! I try to buy ethically where I can. Is that really so odd? Many customers of the Co-operative Bank are customers precisely because of the bank's ethical policy. Those of us who try to support businesses run on ethical lines are not peculiar in any way you know.Why are you so obsessed with all things “ethical”?This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Well that lasted long... only had co-op around 2 years.
Clearly not performing as well as expected.
Virgin seem to be on a expansion.Life in the slow lane0 -
I wonder if CYBG would be interested in swallowing up the Co-operative Bank though. They've only just bought up Virgin after having lots of issues with PPP compensation and closing a fair few Yorkshire and Clydesdale Bank branches. I hadn't considered them to be honest. Interesting.born_again wrote: »Virgin seem to be on a expansion.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
I don't know. Hedge funds tend to buy up ailing concerns then sell them on. The Co-operative Bank seems to be moving forwards and is aggressively advertising its ethical policy. It has officially recognised the Save Our Bank campaign which aims to keep the bank to its promises regarding its ethical stance and has reinstated external auditing of its policy. Only recently it has reintroduced personal loans (through a third party) and is courting businesses.born_again wrote: »Clearly not performing as well as expected.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
I am saddened by the way that the Co-op Bank is now compared to the bank I was with for years and subsequently smile (that's the online bank) at their inception.
I departed them when that Paul Flowers individual became chairman, whatever were they thinking?
"Ethical Policy", maybe but do they follow it?0 -
I wonder if CYBG would be interested in swallowing up the Co-operative Bank though. They've only just bought up Virgin after having lots of issues with PPP compensation and closing a fair few Yorkshire and Clydesdale Bank branches. I hadn't considered them to be honest. Interesting.
CYBG PLC is no more - it's been
VIRGIN MONEY UK PLC since the first of November.
While the legal position is that CYBG bought Virgin Money, the reality is that the Virgin Money shareholders swapped their 100% holding in VM for ~38% of the merged group.
Whether the group would want to acquire the Co-op bank while they're trying to integrate the Northern Rock IT system with the recently updated CYBG IT system, and rebranding to Virgin, is an open question.Eco Miser
Saving money for well over half a century0 -
What a very strange comment! I try to buy ethically where I can. Is that really so odd? Many customers of the Co-operative Bank are customers precisely because of the bank's ethical policy. Those of us who try to support businesses run on ethical lines are not peculiar in any way you know.
Why do you believe they are ethical, because they say so?
The bank went bust and dragged down much of the wider co op business with it, with all the associated drug and vice issues surrounding it.
I'm not aware any hedge funds have an ethical policy, only criteria is making money and typically avoiding prosecution, though the vampire squid is obviously known as a very ethical business.0 -
Problem is ethics can mean many things to many different people.Life in the slow lane0
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So should we not bother?born_again wrote: »Problem is ethics can mean many things to many different people.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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