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Anyone still bank with the COOP?



ditchy

a man with a sound track record as a source of qua
Jul 8, 2003
5,205
brighton
I think the end is probably in sight !!


The Bank of England is considering a further intervention into the Co-operative Bank that could lead to the lender being wound up before the end of the year.

John Worth, the finance director of the loss-making bank, warned investors in a brief statement last Thursday that it was set to fall short of the capital targets it had agreed with the regulator.

The bank’s executive team is now scrambling to submit a new restructuring plan to the Bank of England to buy more time. However, the repayment of a £400m bond due this September could complicate matters, City sources said.

Their outstanding corporate bonds have all fallen sharply , with doubts that they may not even be able to pay the outstanding £400m bond due this September.
 




Paul Reids Sock

Well-known member
Nov 3, 2004
4,458
Paul Reids boot
Used to be with the internet side of them Smile. Ended up leaving when I got a joint account with the wife. However I always found them pretty decent and had to use the Co-Op bank to pay I cheques etc. very nice bunch they were
 








Springal

Well-known member
Feb 12, 2005
23,714
GOSBTS
I left them for TSB before Christmas. Quite simply fallen way behind others and hadn't really evolved. Shame as when Smile started it was way ahead of the times
 
















dazzer6666

Well-known member
NSC Patreon
Mar 27, 2013
52,027
Burgess Hill
Well food wise it is generally overpriced and often poor quality, apart from that as you say, why not?

Fresh bread is decent enough, and our local one is half a mile away so use it fairly regularly when I can't be arsed to go any further. It's completely fine for basic stuff.
 


beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,265
Well food wise it is generally overpriced and often poor quality, apart from that as you say, why not?

this. use local occasionally for convenience, but will often travel further to Tesco Metro at more sensible prices.
 


AK74

Bright-eyed. Bushy-tailed. GSOH.
NSC Patreon
Jan 19, 2010
1,187
Despite having the narrowest aisles known to man, the Fiveways Co-Op is ruddy marvellous when an emergency box of Oxo cubes - or equivalent - is required.

As for their banking travails, they're paying the price for a series of strategic blunders made by previous regimes. Play stupid games, win stupid prizes.
 






vegster

Sanity Clause
May 5, 2008
27,867
Sad it they go, the problem is they are not corrupt enough to compete with the likes of RBS and HSBC.
 


beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,265
Sad it they go, the problem is they are not corrupt enough to compete with the likes of RBS and HSBC.

you do know how they got in this mess right? greed got the better of them and they were being run by people who didn't know anything about banking but a lot about the city "entertainment" lifestyle. Coop bank is the reminder to us that alternatives to "big banks" didnt work too well either.
 


Hotchilidog

Well-known member
Jan 24, 2009
8,645
I'm with smile which has been fine for me. Agree with posters who have pointed out that reckless management is not confined to the big banks only.
 




Greavsey

Well-known member
Jul 4, 2007
1,127
Despite having the narrowest aisles known to man, the Fiveways Co-Op is ruddy marvellous when an emergency box of Oxo cubes - or equivalent - is required.

As for their banking travails, they're paying the price for a series of strategic blunders made by previous regimes. Play stupid games, win stupid prizes.

I absolutely detest the Fiveways branch. Bloody impossible to see anything while climbing round or over other shoppers!
 





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