The Co-Op Bank Puts Itself Up For Sale

[mikey4444]

http://www.bbc.co.uk/news/business-38954115

This is rather worrying. I have banked with the Co-op, since I was about 20 years old.
I have never had any trouble with them, and have recommended them to many people.

Not sure who would be interested in buying the Co-op Bank now ?

[EDDIE51]

As suggested in the link merger with The TSB may be the answer.

[Buenchico]

Within the UK only TSB is likely to be interested.

Looking further afield, DZ Bank is a strong possibility. Their predecessor, DG Bank, which merged with GZ Bank to creat DZ, expressed interest in buying the Co-op bank when it was put on the market in the mid-1990s and, if the right price could be agreed, they might well still feel that the Co-op's financial model fits in well with their own.

https://en.wikipedia.org/wiki/DZ_Bank

[mikey4444]

Buenchico...that doesn't fill me with calm I'm afraid. The main reason that I chose the Co-op bank, all those years ago, was on a recommendation from my Union Secretary, over its ethical stance. Will DZ have the same ideas ?

[OldBather]

I agree with mikey,
When the bank is sold off,will the new owners have to maintain it's ethical stance?Probably not.

[Buenchico]

DZ has a 'co-operative' background, with a strong emphasis on environmental issues and sustainability. See the links from the grey box with 'DZ BANK' in it here:
https://www.dzbank.com/content/dzbank_com/en/home.html

The reason that I would never consider banking with the Co-op bank is because of it's so-called 'ethical stance'. Banks are there to make money and that's all that I expect them to do. When I opened my student account in 1971 I deliberately chose to bank with Barclays because they refused to be pressurised into not trading in South Africa. I'm still happy to bank with them today.

[youngmafbog]

I've heard Nationwide and Virgin Money bandied about. Cant see why Nationwide would want it but I could see benefits for Virgin Money.

Will it maintain it's 'ethical' approach? I doubt it there are not enough customers with that sort of thought pattern.

[ToraToraTora]

I can remember taking the books of blue stamps to the coop for my mum! Also I remember when they used to sell big boxes of broken biscuits, us kids loved that!