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.

Comments: 1


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.

Comments: 0


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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08 June 14 from www.theguardian.com

In an article for Comment is Free in the Guardian, the Co-op Bank CEO Niall Booker refers to the history of the co-op movement and promises not to drop previous ethical commitments. This is exactly what Save Our Bank has been calling for.

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04 June 14 from www.uk.coop

The Co-operative Bank has joined Co-operatives UK - the federal body for UK Co-operatives.

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30 May 14

A message to the Bank on its Ethics consultation

Dear supporters,

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28 May 14 from uk.reuters.com

The Co-operative Bank has appointed Laura Carstensen, a commissioner at the Equality and Human Rights Commission, as the new chair of its values and ethics committee. Laura Carstensen was previously a partner at lawyers Slaughter and May and is a former deputy chairman of the UK Competition Commission.

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12 May 14 from www.co-operativebank.co.uk

The bank is saying it has met its capital raising target sooner than expected with commitments from shareholders totalling £400m. This includes the Co-operative Group who, as expected, will be diluted to 20% but will remain the largest single shareholder.

In the news release, chief exec Niall Booker is quoted:

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