Latest news

03 July 15 from saveourbank.coop, www.livingwage.org.uk

The Co-op Bank has gained Living Wage Accreditation. This fulfils a commitment made at the announcement of the new Ethical Policy in January.

Save Our Bank wholeheartedly welcomes this announcement.

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12 June 15

12th June 2015

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10 April 15 from gu.com

In his Economics Blog, Guardian economics editor Larry Elliott welcomes the announcement by the Co-operative Group that it made a profit in 2014.

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28 March 15 from www.theguardian.com

The Co-op Bank has announced its results for 2014. The bank lost money but much less than in 2013.

The Guardian (see link) focuses on the retention of Niall Booker and the possible pay package and quotes Peter Hunt of Mutuo who calls the package 'unethical'.

The bank gave Save Our Bank this statement:

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19 January 15

The Co-op Bank has finally unveiled its new Ethical Policy - and the good news is that, in the words of an old TV ad, there’s “nowt taken out”.

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16 December 14 from www.theguardian.com

The Bank of England announced this morning that The Co-operative Bank had - as expected - failed the most recent round of stress tests. Other banks - RBS and Lloyds scraped through.

In a statement released by the Co-op Bank, CEO Niall Booker said that a revised plan had been accepted by the regulator. The bank further says it has no plans to raise further capital.

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03 November 14 from www.saveourbank.coop, www.saveourbank.coop

After the launch of the bank's Ethical Policy poll, we expressed our surprise that some of the statements in the bank's existing Ethical Policy were not included in the survey.

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03 November 14

The Chair of the Co-operative Bank has announced he will step down 1 October - earlier than originally planned.

Richard Pym was brought in to help stabilise the bank following a credit downgrade and take it through the re-capitilisation process last year. He replaced Paul Flowers, who was subsequently embroiled in a scandal involving illegal drugs.

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03 November 14

The Co-operative Bank announced today - Bastille day - that it has received 73,000 responses to its ethical survey. This is almost as many as the last survey, which was backed by a much bigger publicity campaign including TV advertising. It is a strong indicator of the importance customers still place with the ethical stance of the bank.

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26 September 14 from www.uk.coop, www.thenews.coop

Co-operatives UK, the federation representing the UK's co-operative sector, has said that the Co-operative Bank can keep using its name, providing that it satisfies certain criteria. These include requirements that the bank should “exist in order to promote co-operative activity” and “operate in line with co-operative values, and not discredit the co-operative business model”.

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