Ranked: The best banks for customer service? Monzo and Starling steam ahead August 15, 2023 Which banks are the best for customer service? A new official ranking has been produced by the consumer regulator
Co-operative Bank picks up £479m Sainsbury mortgage portfolio amid speculation over banking M&A August 11, 2023 The Co-operative Bank has bought the mortgage portfolio of Sainsbury’s Bank for £464m as speculation over the future of the UK’s mid-sized lenders continues. The portfolio contains around 3,500 customers and is worth nearly £480m. The deal’s completion comes after months of negotiations, with reports earlier in the year suggesting talks between the two had [...]
Co-Op announces new chair as ‘ideal person’ to take UK’s fifth biggest grocer forward July 13, 2023 The Co-op announced has announced a new chair, with Debbie White set to succeed Allan Leighton when he steps down in February 2024. White has held a number of important executive roles, having served as chief executive of Interserve and a senior director at Spire Healthcare. White will replace Leighton, who is approaching the end [...]
Co-Op to offer water burials in bid to make funerals more sustainable July 3, 2023 Co-op Funeralcare has announced plans to offer a new form of burial as a sustainable alternative to traditional burials or cremation. The UK’s largest funeral provider announced on Sunday that it will introduce the practice, called resomation – also known as water cremation or alkaline hydrolysis – later this year. The practice consists of the [...]
Live music, wine and food savings on offer as The Co-op follows Tesco and Sainsbury’s with £240m ‘members only’ drive April 19, 2023 The Co-op has revealed plans to invest more than £240m into its membership proposition in a move which will cut prices for customers. The group, which runs more than 2,400 food stores and 800 funeral homes around the UK, announced the five-year investment plan as it continues with its broader turnaround efforts. It said the [...]
Hilton Foods welcomes ex Co-op chief to replace boss of 30 years as profits nosedive April 5, 2023 Meat packer Hilton Foods has blamed “significant” challenges in its seafood wing for nosediving profits, as it welcomes a former Co-op boss to head up the business. The FTSE 250 firm’s share price was down 1.25 per cent this morning, as it witnessed a steep decline in profits down to £29.6m from £47.4m the previous [...]
Co-op warns cost of living crisis will eat into future profits as food to funeral care firm feels pain of inflation April 5, 2023 The Co-operative Group has warned that ongoing inflation and economic uncertainty is likely to reduce its profits in 2023. The food, insurance and funeral care provider revealed its underlying profit remained flat at £100m for the year while EBITDA was down £15m to £490m compared to £505m in 2021. Group revenue for the year was [...]
Co-op welcomes former N Brown finance chief as new group CFO March 7, 2023 The Co-operative group has welcomed Rachel Izzard as chief financial officer and a member of the Co-op group board. The supermarket and funeral care provider said that Izzard will take up the position in June following the end of current interim Mike Hazell’s contract. The financial veteran has held a number of CFO positions, including [...]
Co-op front runner in race to buy Sainsbury’s Bank’s £650m loan book, according to reports February 21, 2023 The Co-operative Bank has tabled an offer for Sainsbury’s Bank’s £650m loan portfolio being, according to reports by Sky News. The Co-operative bank is among a number of parties understood to have tabled a bid for the supermarket bank’s loan book . An insider cited by Sky News said the Co-operative “appeared to be the [...]
Co-operative Bank eyes acquisitions as profits top £103m November 10, 2022 The Co-operative Bank said it was eyeing up potential acquisitions today after it posted a 75 per cent surge in pre-tax profit to £103.1m in the first nine months of the year. The high street lender said profits had more than tripled from £29m on the same period last year as it became the latest [...]