Coventry Building Society to Create Lender with Almost 5m Customers and £89bn Balance Sheet

Friday, 24 May 2024, 09:24

Coventry Building Society has finalized the acquisition of the Co-operative Bank for £780m, marking a significant development in the financial sector. The deal will lead to the establishment of a prominent lender with nearly 5 million customers and an impressive £89bn balance sheet. This move signifies a strategic shift for the Co-operative Bank back to its mutual roots under the ownership of Coventry Building Society, demonstrating a strong commitment to serving its customer base and strengthening its position in the market.

https://store.livarava.com/b2c4c4c3-19b0-11ef-a3d8-9d5fa15a64d8.jpg — Coventry Building Society to Create Lender with Almost 5m Customers and £89bn Balance Sheet

Coventry Building Society Acquisition of Co-operative Bank

Coventry Building Society has successfully completed the acquisition of the Co-operative Bank for £780m, solidifying its position in the financial industry.

Key Highlights:

Amount: £780m
Customers: Almost 5 million
Balance Sheet: £89bn

The agreement marks a significant milestone for both institutions, paving the way for enhanced services and offerings for their customer base.

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