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The Co-operative Bank p.l.c. [1] is a British retail and commercial bank based in Manchester, England.Established as a bank for co-operators and co-operatives following the principles of the Rochdale Pioneers, the business evolved in the 20th century into a mid-sized British high street bank, operating throughout the UK mainland.
Co-operative Banking Group Limited (originally Co-operative Financial Services) [1] was a UK-based banking and insurance company and a wholly owned subsidiary of The Co-operative Group. Established in 2002, its head office was located at the CIS Tower , Miller Street, Manchester .
The Co-operative Bank head office building at 1 Balloon Street, Manchester, England. The Co-operative Bank severed its ownership link with the Co-operative Group in September 2017. The bank had been a wholly owned subsidiary until 2014 when the group was forced to sell the majority of its holding to US hedge fund investors to raise funds for ...
It means Co-op Bank would return to a mutual ownership structure which it had more than 10 years ago when it was part of the wider Co-op Group, meaning it is owned by members rather than shareholders.
Until 2017, the Co-operative Group included The Co-operative Bank; however, despite its name, the Co-operative Bank was not itself a true co-operative as it was not owned directly by its members. Instead it was part-owned by a holding company which was itself a co-operative – the Co-operative Banking Group. [5]
The Co-operative Bank is a New Zealand based and registered bank. It provides everyday banking , deposits, savings, loans, insurance and small-business banking throughout the country. Originally set up in 1928 as the Public Service Investment Society and subsequently renamed PSIS , the Co-operative Bank became a registered bank in October 2011 ...
For all of REI’s idealism—its website states that "Being a member-owned co-operative allows us to focus on shared values, ... The co-op’s merchandise profit margin last year was 38.7%, down ...
Historically, Unity Trust Bank was majority owned by individual trade unions and federations (73.23%) and The Co-operative Bank owned the remainder (26.7%) through its subsidiary, Co-operative Commercial Limited. [1] In 2015, Unity bought back shares from Co-operative Commercial Limited, which reduced The Co-operative Bank's holding to 6.7%. [3]